This article was last updated in October 2025 and all information is accurate as of this time.
Buying Your First Home in Tasmania
Buying your first home is an exciting milestone, but it can also feel daunting — especially when you’re trying to save a deposit and navigate the different government incentives available. Thankfully, the TAS First Home Buyers Grant gives first-time buyers a valuable head start.
Whether you’re building a new home near Hobart, buying off the plan in Launceston, or constructing a property in regional Tasmania, the grant can make your first step into the property market more achievable.
At QPF Finance, our mortgage brokers help first home buyers across Tasmania compare lenders, manage grant applications, and secure competitive finance tailored to their goals — so you can focus on finding your perfect home with confidence.
What Is the First Home Buyers Grant (TAS)?
The Tasmanian First Home Owner Grant is one of the most generous in Australia, offering $30,000 to eligible first home buyers who purchase or build a new residential property.
You may qualify if you’re:
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Building a new home under a construction contract
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Buying a new home or unit that’s never been lived in or sold
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Purchasing off the plan from a registered developer
The grant can be used toward your deposit or upfront costs, making it easier to buy or build your first home sooner.
Unlike some states, Tasmania does not apply a property value cap, as long as the property meets the “new home” definition.
Example: If you’re building a new home in Launceston or purchasing a newly completed townhouse in Hobart, you may be eligible for the full $30,000 grant to reduce your upfront costs or boost your deposit.
You can view full eligibility criteria and conditions on the State Revenue Office Tasmania website.
Who Is Eligible for the TAS First Home Buyers Grant?
To qualify for the First Home Owner Grant in Tasmania, applicants must meet specific personal, property, and residency criteria. These conditions are designed to ensure the grant supports genuine first-time buyers purchasing or building new homes.
Personal Eligibility
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You must be at least 18 years old.
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You must be an Australian citizen or permanent resident, or applying jointly with one.
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You and your spouse or partner must not have owned or occupied a residential property in Australia before.
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The grant can only be received once per person or couple.
Property Requirements
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The property must be a new residential home, meaning it has never been lived in, rented, or sold.
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Eligible homes include:
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Newly built homes purchased from a builder or developer
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Off-the-plan apartments or townhouses
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Homes built under a construction contract or by an owner-builder
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The home must be located within Tasmania.
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There is no maximum property value cap, provided the property meets all other eligibility conditions.
Occupancy Rules
You must live in the property as your principal place of residence for at least six continuous months, starting within 12 months of completion or settlement.
If you’re building, this period begins once construction is finished and you’ve moved in.
Tip: A QPF mortgage broker can help confirm your eligibility and manage your grant application as part of your home loan approval — saving you time and ensuring everything’s submitted correctly.
Property Value Limits and Eligible Homes
The Tasmanian First Home Owner Grant (FHOG) applies only to new residential properties, ensuring the grant supports new housing supply and genuine first-time buyers entering the market.
Unlike most other states, Tasmania does not set a maximum property value cap — giving first home buyers greater flexibility in where and what they buy.
Eligible Property Types
You may qualify for the grant if you are:
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Building a new home under a building contract or as an owner-builder
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Buying a newly constructed home that has never been lived in or sold
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Purchasing off the plan, where construction is new or still in progress
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Buying a house-and-land package where both are completed as part of the same transaction
All properties must meet Tasmania’s definition of a “new home”, meaning the home:
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Has never been previously occupied or used for short-term accommodation
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Has not been sold or transferred since construction was completed
Ineligible Properties
You won’t be eligible for the grant if you’re:
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Buying an existing or previously occupied home
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Purchasing a holiday house or investment property
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Buying vacant land without an attached building contract
Example: If you buy a brand-new home in Hobart for $700,000 or build a house in Devonport for $550,000, you may be eligible for the full $30,000 grant — provided the property meets the “new home” definition.
How to Apply for the TAS First Home Buyers Grant
Applying for the First Home Owner Grant in Tasmania is simple — and most buyers choose to apply through their lender or mortgage broker so it can be processed at the same time as their home loan.
Here’s how the process works:
1. Confirm Your Eligibility
Make sure you meet the personal, property, and occupancy requirements before applying. Your broker can confirm this and check the fine print for you.
2. Gather the Required Documents
You’ll need:
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Proof of identity (e.g. driver’s licence or passport)
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A copy of your building or purchase contract
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Evidence of completion or settlement
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Bank account details for the grant payment
3. Submit Your Application
You can apply in one of two ways:
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Through your lender or mortgage broker – Recommended, as it’s faster and handled alongside your loan approval.
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Directly to the State Revenue Office (SRO) – Use the First Home Owner Grant application form and upload your supporting documents online.
4. Receive Your Grant
Once approved, the grant is paid directly to your lender at settlement (for new homes) or to you once construction is complete (for owner-builders).
5. Move In and Meet Occupancy Rules
You must move into your home within 12 months of completion or settlement and live there continuously for at least six months.
Tip: A QPF mortgage broker can manage your grant submission alongside your loan application, ensuring everything is approved and processed on time — so you can focus on your move.
Other Government Assistance for First Home Buyers in Tasmania
Alongside the Tasmanian First Home Buyers Grant, several national programs can help you buy your first home sooner or reduce upfront costs:
- Home Guarantee Scheme (HGS) – Allows eligible first home buyers to purchase a property with as little as a 5% deposit, without paying Lenders Mortgage Insurance (LMI). Limited places are available each financial year.
- First Home Super Saver Scheme (FHSSS) – Lets you save for your first home inside your super, taking advantage of lower tax rates and the ability to withdraw up to $50,000 for your deposit.
- Help to Buy (Coming Soon) – A shared-equity scheme launching in 2026, where the Australian Government will co-invest in your property, reducing the deposit and loan size required.
Tip: A QPF Finance mortgage broker can help combine these schemes with the Tasmanian FHOG to maximise your savings and simplify the application process.
Why Use a Mortgage Broker (QPF Finance)
Buying your first home in Tasmania is exciting — but it can also feel overwhelming when you’re comparing lenders, completing paperwork, and trying to understand all the available grants and schemes. That’s where a QPF Finance mortgage broker can make the process easier.
Our brokers work with first home buyers across Hobart, Launceston, and regional Tasmania, helping you:
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Compare home loans from 50+ trusted lenders
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Handle your First Home Buyers Grant application and documentation
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Check eligibility for federal programs like the Home Guarantee or Super Saver Scheme
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Guide you from pre-approval to settlement, ensuring every step runs smoothly
- And our insurance team can help organise Home & Contents Insurance at the same time!*
Unlike going directly to one bank, a broker gives you access to a wider range of options — helping you secure a competitive home loan that fits your goals and budget.
With the right broker by your side, buying your first home in Tasmania can be simpler, faster, and more affordable.
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial or insurance advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial or insurance product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
*Costs may apply. Contact a QPF insurance broker for more details
