Buying your first home in Australia is an exciting milestone—but it can also feel overwhelming, especially when it comes to understanding the financial support available. The good news is that the Australian government offers several grants and schemes designed to make homeownership more accessible for first-time buyers.
In this guide, we’ll break down the key grants and schemes you should know about, and how they can help you step into your first home sooner.
1. First Home Owner Grant (FHOG)
The First Home Owner Grant (FHOG) is a one-off payment provided by state and territory governments to eligible first-time buyers.
Key points:
- Typically available for new homes or substantially renovated properties
- Grant amounts vary by state (often around $10,000 or more)
- Must meet eligibility criteria such as property value caps and residency requirements
This grant can be used toward your deposit or other upfront costs, making it easier to get started.
2. First Home Guarantee (FHBG)
The First Home Guarantee allows eligible buyers to purchase a home with as little as a 5% deposit, without paying Lenders Mortgage Insurance (LMI).
How it works:
- The government guarantees up to 15% of the property value
- You only need a 5% deposit
- Limited number of places available each year
This scheme is especially helpful if saving a large deposit is slowing you down.
3. Regional First Home Buyer Guarantee (RFHBG)
If you’re considering buying in a regional area, this scheme offers similar benefits to the First Home Guarantee.
Highlights:
- Buy in eligible regional locations
- Only a 5% deposit required
- No LMI needed
It’s a great option if you’re open to living outside major cities while still enjoying financial support.
4. Family Home Guarantee (FHG)
The Family Home Guarantee is designed for single parents or legal guardians with at least one dependent child.
Benefits include:
- Purchase a home with as little as a 2% deposit
- No LMI required
- Helps families enter the property market sooner
This scheme provides a strong pathway to homeownership for single-income households.
5. First Home Super Saver Scheme (FHSSS)
The First Home Super Saver Scheme allows you to save for a home deposit through your superannuation.
How it helps:
- Make voluntary contributions to your super fund
- Withdraw those contributions (plus earnings) for your home deposit
- Benefit from potential tax advantages
This is a smart strategy if you want to grow your deposit faster in a tax-effective way.
6. Stamp Duty Concessions
Stamp duty is one of the biggest upfront costs when buying a property—but first home buyers may receive concessions or exemptions.
What to expect:
- Full or partial exemptions depending on your state
- Property value thresholds apply
- Often available for both new and existing homes
This can save you thousands of dollars, reducing the overall cost of buying your home.