Many first home buyers don’t realise they can combine the FHOG with other incentives like stamp duty concessions or the First Home Guarantee. For example, in Victoria, first home buyers can save up to $31,070 on stamp duty for homes under $600,000. The typical steps include:
- Researching all available grants and schemes
- Calculating potential savings
- Structuring your finances to meet eligibility for multiple incentives
- Applying for each grant or concession
A bank, finance broker or lender can review your situation, identifies all available support, and helps you structure your finances for maximum benefit. Their holistic approach ensures you don’t leave money on the table and can move into your first home with more savings.
