Buying your first home is a major milestone, but it can also be financially overwhelming. That’s where the New Home Owners Grant comes into play—a powerful incentive designed to help first home buyers in Victoria take that crucial first step into property ownership. If you’re planning to purchase or build a new home in Victoria, you could be eligible for a government grant worth thousands.

In this guide, we break down everything you need to know about the New Home Owners Grant in Victoria, including how to apply, eligibility criteria, and how FHBA (First Home Buyers Australia) can support you every step of the way.

What is the New Home Owners Grant?

The New Home Owners Grant, officially known as the First Home Owner Grant (FHOG), is a one-time, tax-free payment provided by the Victorian Government. It aims to support eligible first-time buyers who are building or buying a brand-new residential property.

Currently, eligible buyers can receive $10,000 when purchasing or constructing a new home valued up to $750,000 in Victoria. This includes:

1. House and land packages

2. New homes purchased off-the-plan

3. Substantially renovated homes (in some cases)

It’s a fantastic opportunity for new home buyers to reduce upfront costs and get into their dream home faster.

Who Can Apply?

To qualify for the New Home Owners Grant in Victoria, you must meet the following criteria:

✅ Be at least 18 years old
✅ Be an Australian citizen or permanent resident
✅ You or your spouse/partner must not have owned property in Australia before
✅ The property must be a newly built home or a substantially renovated home
✅ The value of the property (including land) must not exceed $750,000
✅ You must live in the home as your principal place of residence for at least 12 months

Why It’s Ideal for First Home Buyers in Victoria

The Victorian property market can be competitive, especially in cities like Melbourne. With rising prices, any assistance matters—and the New Home Owners Grant offers just that.

By accessing the grant:

1. You can reduce your upfront financial burden

2. It may be used as part of your deposit with lender approval

3. You can combine it with other schemes such as stamp duty concessions or the First Home Guarantee

It’s a game changer for first home buyers looking to enter the market without waiting years to save a full deposit.

What Properties Qualify?

The FHOG in Victoria applies to:

1. Brand-new homes

2. Off-the-plan apartments or townhouses

3. Substantially renovated homes (must be the first sale since renovation)

Older, established homes do not qualify unless they’ve been entirely rebuilt or substantially changed.

How to Apply for the New Home Owners Grant

You can apply in two main ways:

1. Through Your Lender or Mortgage Broker – The most common and easiest route. Your broker will handle the paperwork during the loan application process.

2. Directly via the State Revenue Office (SRO) Victoria – This is an option if you're not using a broker or bank to handle your home loan.

To apply, you’ll need:

1. Proof of identity (passport, driver’s license, etc.)

2. Proof of citizenship or permanent residency

3. A signed contract of sale or building contract

4. Proof of property value and construction details

Processing typically takes 10–15 business days.

How FHBA Helps First Home Buyers

First Home Buyers Australia has been helping Australians buy their first homes since 2015. Here’s how they can help you maximize your benefit from the New Home Owners Grant:

- Eligibility Check – They’ll assess whether you qualify
- Application Support – Help completing paperwork accurately and on time
- Home Loan Matching – Connect you with lenders offering low-deposit or no-LMI loans
- Grant Combinations – They’ll show you how to stack multiple grants and schemes together
- Access to New Homes – They work with developers across Victoria to match buyers with eligible properties

Can You Use the Grant as a Deposit?

Yes—but with a caveat. While many lenders allow the New Home Owners Grant to form part of your deposit, it usually must be paired with genuine savings or other schemes (like the First Home Guarantee, which requires only 5% deposit and waives LMI).

First Home Buyers Australia helps structure your loan in a way that satisfies both the bank and the government requirements—so you don’t get stuck in paperwork.

Combine FHOG with Other First Home Benefits

In Victoria, you can stack the New Home Owners Grant with:

1. Stamp Duty Exemptions – Pay no stamp duty for homes under $600,000

2. Stamp Duty Concessions – Discounted rates for homes between $600,000–$750,000

3. First Home Guarantee (FHBG) – Buy with just 5% deposit, no LMI

4. Regional First Home Buyer Guarantee – For regional Victorian buyers

FHBA can guide you through how to access and combine these incentives for maximum benefit.

When Will You Receive the Grant?

1. If you buy a new home, the grant is usually paid at settlement.

2. If you build a new home, it’s typically paid when the first slab is poured (construction begins).

Your mortgage broker or FHBA adviser can ensure timing aligns with your loan and property deadlines.

Ready to Claim the New Home Owners Grant in Victoria?

The New Home Owners Grant is one of the most valuable incentives for first home buyers, but many miss out due to confusion or lack of support. With rising house prices in Victoria, every dollar counts.

At FHBA, we specialize in helping first-time buyers across Melbourne and regional Victoria access all available grants, navigate the mortgage maze, and move into their new home with confidence.

Final Thoughts

Whether you're building in Ballarat, buying in Bendigo, or hunting in the heart of Melbourne, the New Home Owners Grant in Victoria can be the boost you need to make it happen. With expert support from First Home Buyers Australia , you don’t just get a grant—you get a roadmap to your first home.