First Home Buyer Australia 2026: Grants, Schemes & What You Actually Get
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The federal and state governments love announcing “first home buyer” packages, but cutting through the marketing to see what you actually qualify for takes work. Here’s the practical 2026 breakdown.
The Big Federal Schemes
- First Home Guarantee (FHBG): Lets eligible buyers purchase with as little as a 5% deposit without paying LMI. Government acts as guarantor on the rest. Capped places per financial year.
- Regional First Home Buyer Guarantee: Same idea, but for regional areas with different price caps.
- Help to Buy: Shared-equity scheme where the government takes an ownership share to reduce your loan. Income and property price caps apply.
State-Specific Grants
Every state runs its own First Home Owner Grant (FHOG), usually $10,000–$15,000, almost always restricted to new builds or off-the-plan purchases. Buying an existing home? You probably don’t get the grant — only stamp duty concessions.
Stamp duty exemptions or concessions are often the bigger saving anyway. Check your state revenue office for current price thresholds.
What People Get Wrong
- “Grants reduce my deposit” — No. Grants are paid at settlement and reduce the cash you bring. Your deposit still needs to meet the lender’s LVR requirements.
- “I qualify for everything” — Most schemes have income caps ($125–200k single, higher for couples) and property price caps that vary wildly by region.
- “New builds are always cheaper” — They unlock grants and lower stamp duty, but the price premium on new builds often eats most of the saving.
Realistic First Buyer Checklist
- Save at least 5% deposit + 5% buffer for legal, building inspection, moving costs.
- Get pre-approval (not just an online calculator — a written assessment).
- Confirm grant/scheme eligibility before signing a contract.
- Use a buyer’s agent or savvy mortgage broker in your target suburb.
💡 Quick Tip: Stamp duty concessions are usually worth more than the FHOG headline figure. Run the numbers both ways before committing to a new build for the grant alone.