Quick answer: the Victorian First Home Owner Grant is $10,000 for a new home worth up to $750,000. You must live in it for at least 12 months, starting within 12 months of settlement or completion. It can be combined with Victoria’s first home buyer stamp duty exemption (up to $600,000) and the 5% Deposit Scheme.
Victoria’s grant is for new homes only. The bigger saving for many buyers is the stamp duty exemption, which also applies to established homes. Here’s how the grant works.
What counts as a new home
- A newly built home that hasn’t been lived in or sold as a home, including off-the-plan purchases.
- A home you build under a building contract, or as an owner-builder.
- A substantially renovated home bought from the renovator, where most of the home was replaced and nobody has lived in it since.
- A home built to replace one that was demolished.
Established homes don’t qualify for the grant.
Amount and price caps
| Situation | Rule |
|---|---|
| Grant amount | $10,000 |
| Value cap | Up to $750,000 (for off-the-plan, the contract price) |
| Home type | New, off-the-plan, substantially renovated or a contract to build |
Who qualifies
- Each applicant is 18 or over and buys as an individual, not a company or trust.
- At least one applicant is an Australian citizen or permanent resident. For settlements from 26 November 2025, New Zealand citizens are also eligible, whether or not they hold a 444 visa.
- Neither you nor your spouse or partner has received a first home grant before, owned residential property in Australia before 1 July 2000, or lived for 6 months or more in a home you owned since then.
How long you must live there
At least one applicant must live in the home as their main residence for at least 12 months, starting within 12 months of settlement or of construction finishing. If you can’t, you must tell the State Revenue Office within 14 days and repay the grant.
How it’s paid
Most buyers apply through their lender, which lodges the application and pays the grant at settlement or the first construction payment. You can also apply directly with the State Revenue Office within 12 months of settlement or completion.
How it stacks with other help
- Stamp duty: first home buyers pay no duty on a home up to $600,000, with a concession up to $750,000. See our Victoria stamp duty calculator and rates.
- 5% Deposit Scheme: buy with a 5% deposit and no LMI. Price caps are $950,000 in Melbourne and regional centres and $650,000 elsewhere in Victoria.
On a $600,000 new townhouse, an eligible buyer could receive the $10,000 grant, pay no stamp duty and avoid LMI with a 5% deposit.
Off-the-plan in Victoria
For off-the-plan apartments and townhouses, Victoria also lets buyers deduct construction costs from the dutiable value for contracts signed before 21 April 2027, which can cut stamp duty further. Check this with your conveyancer.
First home grants by state: NSW · VIC · QLD · WA · SA · TAS · ACT · NT
Common questions
How much is the First Home Owner Grant in Victoria?
$10,000 for eligible first home buyers buying or building a new home worth up to $750,000.
Can I get the grant on an established home in Victoria?
No, it’s for new homes only. First home buyers of established homes may still get the stamp duty exemption or concession.
How long do I have to live in the home?
At least one applicant must live there for 12 months, starting within 12 months of settlement or completion.
Can New Zealand citizens get the Victorian grant?
Yes. For settlements from 26 November 2025, New Zealand citizens are eligible whether or not they hold a 444 special category visa.
Does the grant affect the 5% Deposit Scheme?
No. You can use both, as long as you meet each scheme’s rules and the home is under the scheme’s price cap.
Sources: State Revenue Office Victoria, First Home Owner Grant; 5% Deposit Scheme price caps. Checked 6 October 2026. General information only; eligibility is assessed by the state revenue office and the participating lender.
