First Home Buyer Guide: Victoria
Everything you need to know about buying your first home in Victoria, including grants, stamp duty exemptions, and the Victorian Homebuyer Fund.
$20,000
Regional FHOG
$31,070
Max Duty Saving
25%
VHF Co-Purchase
$600K
Duty-Free Threshold
🏡 Regional Victoria Bonus!
First home buyers in regional Victoria receive $20,000 FHOG - double the Melbourne grant!
Regional Victoria
$20,000
Double the metro grant!
Melbourne Metro
$10,000
Standard grant
Available Schemes & Grants
First Home Owner Grant (FHOG)
$10,000 grant for buying or building a new home
$10,000 cash grant
- ✓ New home value up to $750,000
- ✓ Australian citizen/PR
- ✓ Never owned property
- ✓ Live in property 12+ months
First Home Buyer Duty Exemption
Full stamp duty exemption or concession
Up to $31,070 saving
- ✓ Property up to $600,000 (full exemption)
- ✓ $600,001-$750,000 (concession)
- ✓ Must be principal residence
Victorian Homebuyer Fund
Government co-purchases up to 25% of property
Reduce deposit & borrowing needed
- ✓ Income under $130,199 (single) / $205,313 (joint)
- ✓ Property up to $950,000 (Melbourne)
- ✓ Min 5% deposit required
First Home Guarantee (Federal)
Buy with 5% deposit, no LMI required
Save $15,000-40,000 on LMI
- ✓ Income under $125,000 (single) / $200,000 (couple)
- ✓ Property up to $800,000 (Melbourne)
- ✓ Owner-occupier only
Victorian Homebuyer Fund Explained
The VHF is a shared equity scheme where the government contributes up to 25% of the purchase price:
How It Works
Government owns 25% of your home. You own 75% with a smaller mortgage.
Buying Back
Buy back government share over time as your equity grows.
Price Caps
Melbourne: $950K, Geelong: $800K, Regional: $700K
Stamp Duty Savings Examples
| Purchase Price | Standard Duty | FHB Duty | You Save |
|---|---|---|---|
| $500,000 | $21,970 | $0 | $21,970 |
| $600,000 | $31,070 | $0 | $31,070 |
| $650,000 | $33,670 | $16,835 | $16,835 |
| $700,000 | $36,070 | $24,047 | $12,023 |
| $750,000 | $40,070 | $40,070 | - |