First Home Buyer Concessions: Frequently Asked Questions
If you’re thinking about buying your first home, understanding what concessions and schemes are available can make a huge difference.
Below are the most common questions borrowers ask — with clear answers to help you avoid missing out on valuable savings.
What concessions are available for first home buyers?
Depending on your state, income, and the property you’re buying, you may be eligible for a range of concessions and schemes.
These can include:
- Stamp duty exemptions or reduced (concessional) rates
- The First Home Owner Grant (often for new homes)
- The First Home Guarantee (buy with a smaller deposit)
- Regional or family-focused guarantee schemes
- The First Home Super Saver Scheme
The value of these concessions can range from a few thousand dollars to tens of thousands.
Do all first home buyers qualify for these concessions?
Not automatically. Each concession has its own eligibility rules.
Eligibility usually depends on:
- Your state or territory
- The purchase price of the property
- Whether the home is new or established
- Your income and personal circumstances
- Whether you’ll live in the property
This is why personalised advice matters — assumptions often lead to missed opportunities.
How much can stamp duty concessions actually save me?
Stamp duty is often the largest upfront cost after the deposit.
In some cases, first home buyers can pay no stamp duty at all. In others, they receive a reduced rate.
The exact saving depends on your state and purchase price, but it can easily add up to many thousands of dollars.
Can I really buy with less than a 20% deposit?
Yes — in many cases.
Government-backed schemes may allow eligible buyers to purchase with as little as 5% deposit, often without paying lenders mortgage insurance (LMI).
Understanding which scheme applies — and how to structure the loan correctly — is critical.
Why do so many borrowers miss out on concessions?
Most borrowers don’t miss out because they’re ineligible. They miss out because they don’t get advice early enough.
Common reasons include:
- Assuming they won’t qualify
- Speaking to a lender after committing to a property
- Not understanding state-specific rules
- Relying solely on online calculators
When should I check my eligibility?
Ideally, before you start inspecting properties or making offers.
Checking eligibility early helps you:
- Understand your real buying power
- Plan your deposit and upfront costs
- Avoid delays or surprises later
- Buy with confidence instead of guesswork
What’s the fastest way to find out what I qualify for?
The fastest and most accurate way is a short strategy conversation.
This allows you to quickly confirm:
- Which concessions and grants apply to you
- Whether you can buy sooner than expected
- How to structure your loan from the start
Ready to Check Your First Home Buyer Eligibility?
Don’t risk missing out on concessions that could save you thousands.
A quick conversation can give you clarity and a clear path forward.
