How much is the first home owner grant in VIC 2026?
The First Home Owner Grant (FHOG) in Victoria is currently $10,000 for eligible new homes. The amount for 2026 is subject to future government review and may change.
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How it works in practice
Understanding the First Home Owner Grant (FHOG) in Victoria
The First Home Owner Grant (FHOG) in Victoria is a one-off payment designed to help eligible first home buyers purchase or build a new home. This includes houses, townhouses, apartments, units, or other dwellings that have not been previously sold or occupied as a place of residence.
Current Grant Amount and Future Projections
As of the current policy, the FHOG in Victoria is $10,000. However, it's crucial to note that government grants and thresholds are often reviewed and adjusted annually. Therefore, the exact grant amount for the 2026 calendar year or financial year is not yet finalized and will depend on future announcements by the Victorian Government. Buyers should always consult official sources closer to the date.
Purpose of the Grant
The grant aims to stimulate the construction of new homes and assist first-time buyers in entering the property market, specifically encouraging them to build or buy newly constructed properties rather than established ones.
Important exceptions
The FHOG in Victoria has several key eligibility criteria. You must be an Australian citizen or permanent resident, at least 18 years old, and you or your spouse must not have previously owned residential property in Australia or received a first home owner grant anywhere in Australia. The grant is only available for new homes and the property must be occupied as your principal place of residence within 12 months of settlement or completion of construction, for a continuous period of at least 12 months. The contract price for the home must not exceed the prescribed threshold, which is currently $750,000.
What you should do now
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Verify your eligibility criteria (citizenship, age, previous property ownership) with the State Revenue Office Victoria.
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Ensure the home you plan to purchase or build is a 'new home' and falls within the current property value threshold.
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Gather all necessary supporting documents, including proof of identity, residency, and property details.
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Complete the official First Home Owner Grant application form through your bank or directly with the State Revenue Office Victoria.
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Submit your application, typically through your lender if you are financing the purchase, or directly online after settlement for cash buyers.
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