As an eligible home buyer, you could receive thousands of dollars in state grants or concessions.
Your BCU Bank Mobile Lender can help you to determine your eligibility.
New South Wales
First Home Buyers Assistance Scheme
If you’re a first home buyer in NSW, you may be eligible for a full or partial exemption on transfer duty.
Key features:
- For first home buyers only.
- Available for a new or existing home, or vacant land on which you intend to build a home.
- Property value must be less than $800,000.
Main criteria:
- You must be an individual, not a company or trust.
- You must be over 18.
- You, and your spouse/partner, must have never previously owned or co-owned a home in Australia.
- Australian citizens or permanent residents only.
- You must move into the new home within 12 months after buying the property and live there for at least six continuous months.
First Home Owner Grant
If you’re a first home buyer and you’re buying or building a new home, you may qualify for a $10,000 grant under the First Home Owner Grant (New Homes) scheme.
Amount: $10,000
Key features:
- Available for first home buyers.
- For buying or building a brand new home.
Main criteria:
- Must be for a new home that no-one has lived in before.
- Property value must be less than $750,000.
- Australian citizens or permanent residents only.
- You must be over 18.
- You or one of the first home buyers must move into the new home within 12 months after buying the property, and live there for at least six continuous months.
- You, and your spouse/partner, must have never previously owned or co-owned a home in Australia, or received a first home owner grant in Australia.
More information including full eligibility criteria is available on the NSW Government website.
Queensland
First Home Owners' Grant
The Queensland First Home Owners’ Grant is a state government initiative to help first home owners to get their new first home sooner.
Amount: $15,000
Key features:
- Available for first home buyers.
- For buying or building a new home.
Main criteria:
- You must be over 18 years.
- You must be an Australian citizen or permanent resident (or applying with someone who is).
- You, or your spouse, must not have previously owned property in Australia that you lived in.
- You must be buying or building a brand new home.
- The value of the home including the land is less than $750,000.
- You must move into the new home as your principal place within one year of purchase/construction competition and live there for six months.
More information including full eligibility criteria is available on the QLD Government website.