Understanding the First Home Owners Grant for Existing Homes Buying your first home is one of the biggest milestones in life — but it can also feel financially overwhelming. The First Home Owners Grant (FHOG) for existing homes aims to make that journey a little easier for eligible Australians looking to buy their first property. Traditionally, the FHOG was designed to encourage new home construction. However, in some states and territories, incentives and concessions are now extending to existing homes, giving first-time buyers a better chance to break into the property market. If you’re buying an existing home, you might not get a direct grant in every state, but don’t worry — several government programs can still ease your costs. These include stamp duty concessions, first home buyer schemes, and low-deposit loans. For example, in Victoria, Queensland, and New South Wales, you can save thousands on stamp duty, while in Tasmania or South Australia, other rebates may apply. Eligibility often depends on your citizenship, property value, and previous ownership history. You’ll generally need to live in the home for a set period (usually 6–12 months) and must not have owned property before. Even though the FHOG is primarily for new homes, understanding these alternative benefits for existing homes can significantly reduce your upfront costs. With the right guidance — like that from First Home Buyers Australia (FHBA) — you can uncover every incentive available and make homeownership a reality sooner. Get in touch with us! https://fhba.com.au/first-home-incentives-grants-vic/