First home buyers grant

First home buyers are able to receive one of the following in Victoria, Australia:

- First Home Owner Grant
- First Home Bonus
- First Home Owner Boost
- A regional bonus

The First Home Owner Grant gives first home buyers who eligible with a grant of $7000. If the property was purchased prior to the beginning of 2010, the grant is not means-tested and not restricted by the price of the property.

If you entered in a purchase agreement after 1st of January 2010 then the grant is only for home owners that purchase homes under the $750000 price mark. There is an exception to this requirement when the contract relates to a home that is on or going to be built on primary production land.

The Owner Boost does not apply anymore and only the Bonus is available if you purchase homes that don't exceed $600000. New homes get a $11000 bonus and established one receive a $2000 bonus.

The first home buyers grant is for people that want to get a kick start when buying their first home. It is there to encourage more people to buy homes.

If you are buying a home for the first time in Victoria, Australia be sure to apply for your first home buyers grant