The First Home Owner Grant (FHOG) across Australia is primarily designed to support the purchase or construction of new homes, rather than established properties. In most states and territories, if you are considering buying an existing home, you will not be eligible for the FHOG. This focus on new builds is intended to stimulate the construction industry and increase the supply of modern, energy-efficient housing nationwide.
However, buyers interested in established homes may still be able to access other forms of government support, such as stamp duty concessions or exemptions. These concessions can significantly reduce the upfront costs of purchasing a home, making it more accessible for first-time buyers. It’s important to remember that the eligibility criteria and benefits of these concessions differ from those of the FHOG and vary by state or territory.
Understanding the differences between new builds and established homes is crucial for first home buyers. New builds often offer the advantages of modern design, energy efficiency, and lower maintenance costs. In contrast, established homes may provide character, mature gardens, and often a more central location. Carefully weighing the pros and cons of each option, along with the government support available in your state or territory, will help you make an informed decision that best suits your needs and budget.
Find out more about grants and concessions in your state or territory:
https://www.firsthome.gov.au
