First Buyers Home Grant: Top Ten Key Facts

1.    Nearly 25,000 first home buyers signed on the dotted line this year already, which is five times the number in the last few months of last year.  This it thought to be due to the boost to the grant.

2.    The First Home Buyer Grant was originally set at $7,000, but in October 2008 it was increased to $14,000 for established homes and $21,000 for building or buying newly constructed homes . Now, the First Home Owners Grant will be reduced as of 31 December 2009.  The original first home owners grant of $7,000 is still available to eligible first home buyers. 

The grant was boosted by the Federal Government during the global financial crisis to boost the property market but is now winding back to the original $7,000.  The grant is designed to help first home buyer onto the property ladder.

The NSW First Home Buyers Supplement will be available until 30 June 2010 and the $7,000 First Home Owner Grant and the First Home Plus schemes will continue to be available after 30 June 2010.

If you would like more information on what you can claim please contact your nearest mortgage broker.



3.    While the grant was increased, more first home owners than ever were looking to buy new houses.

4.    A first time home buyer can access the grant once only

5.    First home buyers can access the government grant from their mortgage broker, or submit the forms themselves

6.    Many Australian states also offer anyone eligible for the FHOG additional grants or concessions on stamp duty

7.    For the purchase of an existing dwelling, payment will be made at settlement.

8.    For a building contract, payment will be made on the first progress payment.

9.    There is no tax payable on the First Home Owner Grant.

10.    Currently there is no limit on the price of the home. However, effective from 1 July 2009 (subject to Federal Government approval) the First Home Owner Grant will be capped and only be available for properties valued up to $750,000.


If you want to find a great mortgage for your first home, call us on .  We will contact a wide range of lenders and talk to them about your financial needs, then we will find you a great home loan.