Getting your head around and keeping track of your first home owner grant isn’t easy. In fact, it’s something that thousands of Australians struggle with, so you’re not alone.

In this article, you’re going to find out everything you need to know about your first owner grant, including what you’re entitled to, if you’re looking to get your foot on the property ladder. Read on to find out more.

What is a First Home Owner Grant (FHOG)?

FHOGs were introduced in 2000 to reduce the effects that GST was having on home buyers. It’s a one-off payment for individuals looking to purchase a property for the first time. Depending on your state, you could be entitled to between $7,000 and $26,000, which for many is a massive help.

If you’re buying a property with someone else, they can also get a grant, but it usually has to be their first property purchase too. Be aware that you’ll both have to meet your state or territory’s legislative and eligibility requirements before getting your grant.

Can I get a FHOG?

This is the eligibility criteria for FHOGs across all of the states and territories in Australia. You should check with your local revenue office to get precise details, as it’s common for these grants to only apply to new or renovated properties.

  • ACT: for properties up to $750,000 – $7,000
  • NSW: for new builds up to $750,000 – $10,000
  • NT: $26,000 for any new properties
  • QLD: $20,000 for any new builds up to $750,000
  • SA: for properties up to $750,000 – $15,000
  • TAS: $10,000 for any new property
  • VIC: for properties up to $750,000 – $10,000
  • WA: for properties up to $750,000 south of the 26th parallel – $10,000. Included for properties up to $1,000,000 north of the 26th parallel

When Can I Expect to Receive My Grant?

The timing of your grant hitting your account will largely be based on where you live, so you should check with your local revenue office to get specific details. As a general rule of thumb, however, your FHOG will be received at settlement if you’re purchasing a new home, or when your slab is laid if you’re having a home built.

How do I Apply for a FHOG?

Applying for a FHOG is simple. You can pursue one of two options:

1) Make an application yourself with your local authority

2) Request that your home loan provider makes the application on your behalf

Regardless of which method you choose, you’ll be required to provide supporting paperwork.

What Other Concessions am I Entitled To?

There’s every chance that, as a first-time buyer, you’ll be able to get additional discounts on your property purchase. Keep an eye out in your state or territory for:

  • Stamp Duty Discounts – in some states, stamp duty will be waived up to a certain property price.
  • Property Concessions – if you’re building or buying in a rural area, you might be able to get a larger grant or more substantial deduction on your stamp duty.