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  1. Housing.vic.gov.au
  2. Housing options
  3. Home ownership

Help to buy a home

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Grants and concessions are available to eligible people to help them buy their own homes.

Financial considerations

Buying a home is a big decision. It needs planning and budgeting.

The Australian Government's Moneysmart website has information that will help you get started on the path to buying your own home. From working out if you are ready to buy to finding the right property.

There is also a budget planner and mortgage calculator that will help you work out what repayments you can afford.

It is also important to consider the type of property you want to buy.

Houses and townhouses are usually freestanding and have their own separate titles.

Flats and apartments often have strata titles which allow individual ownership of part of a property. This means there will be annual fees, levies and charges that you will have to pay.

Fees

You will also need to think about the other fees that come with buying a property, like:

  • Stamp duty
  • Transfer of registration fees
  • Bank charges
  • Other professional fees (like legal and conveyancing fees)
  • Moving costs
  • Inspection fees (like for architectural inspections)
  • Mortgage insurance.

Getting the right home loan

The Moneysmart website has information about borrowing money and choosing the right home loan – from understanding interest rates to how to pay off your home loan sooner.

There is also a budget planner and mortgage calculator that will help you work out what repayments you can afford.

For first home owners

The Victorian Government offers eligible first home owners:

  • No stamp duty tax on properties up to $600,000
  • Reduced stamp duty tax on properties up to $750,000
  • Off the plan concessions
  • First Home Owner Grants.

Read more about support available for people to buy a house.

There may be other concessions or exemptions available if you are:

  • A pensioner
  • A first home owner with family
  • Purchasing off the plan.

The State Revenue Office website has more information on benefits, concessions and exemptions for property buyers. 

Indigenous Business Australia home ownership program

The Indigenous Business Australia Home Ownership Program offers a range of affordable housing loan products and a supportive application process.

This program is for eligible Indigenous Australians unable to obtain all their finance from another lender to buy or build their first home.

To find out more, visit Indigenous Business Australia's website.