This article was last updated in October 2025 and all information is accurate as of this time.
Buying Your First Home in Victoria
Buying your first home is a major milestone, and for many Victorians, it’s one that feels increasingly out of reach especially in Melbourne’s competitive property market. Between rising prices, saving a deposit, and navigating the many incentives available, it can be hard to know where to begin.
That’s where the VIC First Home Buyers Grant (FHOG) comes in. This government initiative provides eligible first home buyers with a financial boost to help them purchase or build a brand-new home, making it easier to take that important first step onto the property ladder.
Whether you’re building in Ballarat, buying off-the-plan in Geelong, or settling in a new Melbourne development, understanding how the grant works and how it fits with your broader loan strategy can make the process smoother and more affordable.
At QPF Finance, our mortgage brokers work with first home buyers across Victoria to help secure finance, handle grant applications, and compare lenders, so you can move into your new home with confidence.
What Is the First Home Buyers Grant (VIC)?
The First Home Buyers Grant in Victoria is a $10,000 payment from the State Government designed to help first home buyers purchase or build a new residential property.
It applies to homes valued up to $750,000, including:
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Newly built homes (never previously lived in or sold)
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Off-the-plan apartments or townhouses
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Owner-builder projects, once construction is complete
This grant is available across both metropolitan and regional Victoria, helping first home buyers enter the market in a range of locations from city apartments to regional house-and-land packages.
Example: If you purchase a new townhouse in Geelong for $710,000, you could be eligible for the $10,000 grant, which can go toward your deposit or other upfront costs.
The grant only applies to new or substantially renovated properties, not existing homes or investment properties.
You can find full details on the State Revenue Office Victoria website, but below we’ll outline who’s eligible and how to apply.
Who Is Eligible for the VIC First Home Buyers Grant?
To qualify for the First Home Buyers Grant in Victoria, applicants must meet certain personal and property criteria.
Here’s a simple breakdown of what’s required:
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 partner must note have:
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Owned a home in Australia before 1 July 2000
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Owned a home in Australia after 1 July 2000 and occupied that home continuously for more than 6 months.
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You can only receive the grant once — it’s designed for genuine first-time buyers.
Property Requirements
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The home must be brand new, which includes:
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Newly built homes that have never been lived in or sold
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Off-the-plan apartments or townhouses
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Homes built under a building contract
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Owner-builder constructions, after receiving the Certificate of Occupancy
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The property must be located in Victoria and valued at $750,000 or less, including land and construction.
Occupancy Requirements
Victoria’s rules differ slightly from most other states.
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You must move into the home within 12 months of settlement or completion, and
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You must live there continuously for at least 12 months as your main residence.
This longer occupancy period is unique to Victoria and ensures the grant is used to help genuine owner-occupiers.
Tip: If you’re unsure whether your property qualifies as “new,” your broker can check with your builder or conveyancer before applying, saving time and potential delays later.
Property Value Limits and Eligible Homes
The Victorian First Home Buyers Grant applies to new residential properties valued at $750,000 or less, including both land and construction. This means if you’re buying a house-and-land package, the combined cost of the land and build must stay under that threshold.
The property must also meet the state’s definition of “new.” This includes:
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Homes that have never been occupied, rented, or sold
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Off-the-plan purchases where construction is still underway or recently completed
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Substantially renovated properties, where most of the building has been replaced (as certified by the SRO)
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Owner-built homes, once completed and approved for occupancy
The grant does not apply to:
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Established homes (even if recently renovated)
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Investment or holiday properties
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Vacant land without a construction contract
Example: If you buy a brand-new apartment in Melbourne’s west for $720,000 or build a new home in Ballarat for $680,000, you may be eligible for the full $10,000 grant to put toward your purchase or construction costs.
How to Apply for the First Home Buyers Grant in VIC
Applying for the First Home Owner Grant (FHOG) in Victoria is straightforward once you know what to expect. You can apply either through your lender or directly to the State Revenue Office (SRO) but most buyers choose to go through their mortgage broker, as it keeps the process simple and aligns with your loan application.
Here’s how it works:
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Confirm Eligibility
Review the criteria (citizenship, property type, and value limit) and make sure your new home qualifies before you sign contracts. -
Prepare Your Documents
You’ll need proof of identity, the home-building or purchase contract, and evidence that construction has finished or settlement has occurred. -
Submit Your Application
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If you’re applying through a broker or lender, they’ll lodge the FHOG application on your behalf with your loan documents.
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If you’re applying directly, complete the SRO VIC FHOG form and upload the required documentation online.
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Wait for Assessment and Payment
Once approved, the payment is:-
Made at settlement (for newly built homes), or
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Made when construction is complete (for owner-builders).
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Move In and Meet Occupancy Requirements
Remember — you must move in within 12 months of completion and live in the property as your main residence for at least 12 months.
Tip: Applying through a mortgage broker, like QPF Finance, ensures your grant application is coordinated alongside your home-loan approval. It also reduces paperwork and minimises the risk of missing critical deadlines.
Other Government Assistance for First Home Buyers in Victoria
In addition to the Victorian First Home Buyers Grant, there are a few national programs that can help boost your deposit or reduce upfront costs:
- Home Guarantee Scheme (HGS) – Allows eligible first-time buyers to purchase a home with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI). Places are limited each financial year.
- First Home Super Saver Scheme (FHSSS) – Lets you save for your first home inside your super, taking advantage of the tax benefits of superannuation. You can withdraw up to $50,000 of voluntary contributions to use toward your deposit.
- Help to Buy (Coming Soon) – A shared-equity program that will see the Australian Government co-invest in the purchase price of eligible homes, helping reduce the loan amount required.
Tip: A QPF Finance mortgage broker can help check your eligibility for these schemes and combine them with the VIC First Home Buyers Grant to maximise your savings.
Why Use a Mortgage Broker
Buying your first home in Victoria is exciting, but the process can feel overwhelming especially when you’re comparing lenders, juggling paperwork, and trying to understand the different grants and schemes available.
That’s where a mortgage broker can help.
At QPF Finance our experienced brokers work with first home buyers across Melbourne and regional Victoria every week to:
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Compare loans from 50+ lenders to find the best rates and terms
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Handle your First Home Buyers Grant application alongside your loan paperwork
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Check your eligibility for federal programs like the Home Guarantee or Super Saver schemes
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Guide you from pre-approval to settlement, ensuring the process is simple and stress-free
- And our insurance team can also sort out Home & Contents Insurance for you!*
Unlike dealing with one bank, a broker gives you access to a broader range of lenders and products — helping you save both time and money.
With the right broker on your side, buying your first home in Victoria 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
