The grant is intended to help eligible first home buyers enter the market by purchasing or building a new home. It may cover a newly constructed house, townhouse, apartment or unit, including an eligible home built under a house-and-land arrangement. An established home that has already been sold or occupied as a residence will not ordinarily qualify.
Eligibility depends on the applicants' previous ownership and occupation history, their relationship status, the contract or construction arrangements, the property's value and whether the home will be used as their principal place of residence. A spouse or partner's history may affect the application even if that person is not named as the purchaser. The grant also carries occupation requirements. The applicant generally needs to move into the home within the prescribed period and live there for the required continuous period.
The grant is usually claimed through an approved agent, such as a participating lender, or through the State Revenue Office where the applicable process allows. Evidence may be required to establish identity, ownership history, the contract or building arrangements and occupation.
CMK Legal's property and conveyancing team can help with this.
The grant is not a general payment for any first home purchase. Check that the property is genuinely new, the value limit is met, and every applicant and their spouse or partner satisfies the eligibility rules before relying on the grant in a budget.
Law referenced: *First Home Owner Grant and Home Buyer Schemes Act 2000* (Vic); *First Home Owner Grant and Home Buyer Schemes Regulations 2021* (Vic). Current official guidance: https://sro.vic.gov.au/buying-property/first-home-owner-grant/understanding-first-home-owner-grant