FHOG vs. Other First Home Buyer Schemes

The First Home Owner Grant (FHOG) is just one of several incentives available to first home buyers in Australia. Understanding how it compares to other schemes, such as stamp duty concessions and the First Home Guarantee, can help you maximize your benefits.

The FHOG is typically a one-off payment for new homes, while stamp duty concessions reduce or eliminate the transfer duty payable on both new and established properties. The First Home Guarantee, on the other hand, allows eligible buyers to purchase a home with a deposit as low as 5% without paying Lenders Mortgage Insurance.

Each scheme has its own eligibility criteria and benefits. By comparing them, you can determine which incentives best suit your situation and make your first home purchase more affordable.

Reference Links:

• National First Home Guarantee: NHFIC First Home Guarantee
• Stamp Duty Concessions by State:
  • Victoria: State Revenue Office – Stamp Duty Concessions
  • New South Wales: Revenue NSW – Stamp Duty Concessions
  • Queensland: Queensland Revenue Office – Stamp Duty Concessions
  • South Australia: RevenueSA – Stamp Duty Concessions
  • Western Australia: WA Department of Finance – Stamp Duty Concessions
  • Tasmania: State Revenue Office Tasmania – Stamp Duty Concessions
  • Northern Territory: NT Revenue Office – Stamp Duty Concessions
• Australian Capital Territory: ACT Revenue Office – Stamp Duty Concessions