First Home Buyers Schemes​

Home Buyers Schemes in Australia. Who is eligible?

Home Buyers Schemes are grants the Australian State and Federal Government offers to assist eligible Australian residents in entering the property market.

Australian citizens or permanent residents who have not previously owned a home and are purchasing a newly-built or off-the-plan property may qualify for the First Home Owner Grant and the First Home Loan Deposit Scheme.

Safeguarding Your Property Journey

Our experts can help you make the most of the Home Buyers Scheme. You could benefit from up to $15,000, discounted or no stamp duty (depending on the property’s value between $500,000 and $750,000), the Home Builder scheme and other state-dependent incentives. To qualify, you must:

  • Be an Australian citizen or permanent resident.
  • Be at least 18 years old.
  • Move in within 12 months and live there for at least 6 months. 

As a specialist debt structuring and property advisory group, ANIG WM will help you design a budget to understand better your cash flow and how things could play out upon taking on the new loan.

To access home buyers schemes in Australia, you'll need to meet the eligibility criteria for each scheme, which may vary depending on the state or territory you are purchasing in. It's important to research each scheme and seek professional advice to determine which scheme suits you and how to apply.

First Home Buyer Assistance scheme:

This scheme is designed to help first home buyers in New South Wales purchase their first home by providing exemptions or concessions on transfer duty, also known as stamp duty. The amount of stamp duty payable is determined by the property's purchase price. To be eligible, you must be an Australian citizen or permanent resident and purchase a property that will be your principal residence.

First Home Owner (New Homes) Grant:

This grant provides a one-time payment to eligible first home buyers in Australia who are purchasing a new home or building a house. The grant amount varies depending on the state or territory you are purchasing in, but it is generally between $10,000 and $20,000. To be eligible, you must be an Australian citizen or permanent resident without a home. You must purchase or build a new home that will be your principal residence.

First Home Super Saver Scheme:

This scheme allows eligible first home buyers in Australia to withdraw voluntary contributions made to their superannuation fund to use as a deposit on a home. The maximum amount that can be withdrawn under this scheme is $30,000, and contributions must be made over a period of at least 12 months. To be eligible, you must be an Australian citizen or permanent resident who has not previously owned a home and intend to live in the property you purchase.

The Home Guarantee Scheme:

This scheme provides a guarantee for eligible first-home buyers in Australia who have a deposit of between 5% and 20% of the purchase price of a property. The guarantee prevents borrowers from paying Lender's Mortgage Insurance (LMI), which can be a significant cost when purchasing a property. To be eligible, you must be an Australian citizen or permanent resident who has not previously owned a home and buy a property that will be your primary residence.

First Home Buyer Choice:

This scheme is available to first-home buyers in Victoria purchasing a newly-built property. The scheme provides a government-backed guarantee for up to 25% of the property's value, allowing eligible buyers to purchase a property with a deposit as low as 5% of the purchase price. To be eligible, you must be an Australian citizen or permanent resident who has not previously owned a home and purchase a new property that will be your principal residence.

ANIG WM is the home of professional Financial Planners and SMSF-accredited Advisers. With our personalised approach, you can trust that your financial future is in good hands.

Why work with ANIG WM Adviser?

As a specialist debt structuring and property advisory group, an experienced ANIG WM adviser can help you design a budget to better understand your cash flow and how things could play out upon taking on a home or investment property loan.
"