First Home Buyers
Updated January, 2014
The Victorian Government funds and provides a first home buyers grant of $10,000 to all first home owners of new homes. This applies to contracts entered into on or after 1 July 2013 to build or purchase a new home.The grant will only be payable where the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.The scheme is on-going with no end date yet specified.
To be eligible to receive the grant:
- You and your spouse/partner have not received a grant in any State or Territory of Australia.
- You and your spouse/partner must not have owned residential property, either jointly, separately or with some other person prior to 1 July 2000, in any State or Territory of Australia.
- You and your spouse/partner must not have occupied for a continuous period of at least 6 months, a residential property in which either of you acquired a relevant interest on or after 1 July 2000 in any State or Territory of Australia.
- You must be a natural person (not a company) and at least 18 years of age at the time of settlement or completion of construction.
- You (or at least one applicant) must be a permanent resident or Australian citizen at the time of settlement or completion of construction of the home.
- You (or at least one applicant) must occupy the home as your/their principal place of residence for a continuous period of at least 12 months, commencing within 12 months of either settlement or completion of construction (the residency requirement). The residency requirement has been extended from 6 months to 12 months for eligible transactions that are completed on or after 1 July 2013.
Which homes qualify?
To qualify, the home must be used as a place of residence. Elegible residences are houses, flats, units, townhosues or apartments and moveable homes relocated onto land owned by the applicant.
For enquiries about the Victorian Government's First Home Owner Grant phone
13 21 61.