First Home Buyer Australia 2026: Grants, Schemes and How to Save Your Deposit
Updated April 2026 · 10 min read
First Home Buyer Options in Australia 2026
Australia offers more first home buyer assistance than almost any other country. Between federal guarantees, state grants, stamp duty exemptions, and the FHSS scheme, eligible buyers can save tens of thousands of dollars on their first purchase. The key is understanding which programs you qualify for and stacking them for maximum benefit. Use our affordability calculator to see what you can buy.
Stacking the Benefits: Maximum Savings Strategy
Combine: First Home Guarantee (buy with 5 percent, save AUD 15,000 to 30,000 in LMI) plus state grant (AUD 10,000 to 30,000 cash) plus stamp duty exemption (AUD 10,000 to 30,000 saved) plus FHSS (save deposit tax-effectively in super). A buyer in NSW purchasing a AUD 700,000 new home could save over AUD 60,000 through combined schemes.
Start the FHSS as early as possible — contributions grow inside super at the deemed rate while saving tax on the way in. Calculate your mortgage with our mortgage calculator (switch to AUD) and plan your savings with our savings calculator and compound interest calculator.
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Frequently Asked Questions
What is the First Home Guarantee?
The government guarantees up to 15 percent of the home purchase price, allowing eligible first home buyers to purchase with just 5 percent deposit and no LMI. Income limits: AUD 125,000 singles, AUD 200,000 couples. Property price caps vary by location. 35,000 places available per year.
How much is the first home owner grant?
Varies by state: AUD 10,000 in NSW and VIC for new homes, AUD 15,000 in QLD, AUD 10,000 in WA, and up to AUD 30,000 in some regional areas. Generally only for new homes or substantially renovated properties. Check your state revenue office for current amounts.
What is the First Home Super Saver Scheme?
FHSS lets you save for a home deposit inside your super. Voluntary contributions (up to AUD 15,000 per year, AUD 50,000 total) can be withdrawn for a first home. Contributions are taxed at 15 percent (vs your marginal rate) and earnings are deemed at the shortfall interest rate.
Do first home buyers pay stamp duty?
Most states offer stamp duty concessions or exemptions for first home buyers. NSW: exempt up to AUD 800,000. VIC: exempt up to AUD 600,000. QLD: concessions up to AUD 700,000. Check your state for current thresholds.
How much deposit do I need as a first home buyer?
Minimum 5 percent with the First Home Guarantee (no LMI). Standard minimum is 5 to 10 percent but you will pay LMI. 20 percent avoids LMI entirely. On a AUD 600,000 property: 5 percent is AUD 30,000, 20 percent is AUD 120,000.