First Home Buyers

Government Support for
First Home Buyers in Australia

If you're a first home buyer in Australia, several government initiatives can help ease the financial burden and make home ownership more accessible.

Here are the key programs to consider, these programs can significantly reduce the costs of buying your first home.

First Home Owner Grant (FHOG)

A one-time grant available to first home buyers across Australia. The amount varies depending on your state or territory, and it typically applies to the purchase of a new or substantially renovated home.

First Home Guarantee

This scheme allows first home buyers to secure a home loan with just a 5% deposit without needing to pay for Lenders Mortgage Insurance (LMI). The government guarantees up to 15% of the loan, reducing the upfront cost.

First Home Super Saver Scheme (FHSSS)

This program lets you save for your home deposit through your superannuation. By using this scheme, you can take advantage of lower tax rates, helping your savings grow faster.

Stamp Duty Concessions

Some states and territories offer stamp duty concessions or exemptions for first home buyers, depending on the value and type of the property. This can significantly reduce one of the largest upfront costs of buying a home.