First Home Buyer Guide
Australia 2026

First Home Owner Grant (FHOG)

The FHOG is a one-off government grant for eligible first home buyers purchasing a new home or building. Grant amounts vary by state: NSW $10,000, VIC $10,000, QLD $30,000 (regional) / $15,000 (metro), WA $10,000, SA $15,000. Ask Perry for the current grant in your target state.

Stamp duty concessions

Most Australian states offer stamp duty concessions or exemptions for first home buyers below certain price thresholds. NSW offers full exemption below $800,000, VIC below $600,000. These can save first home buyers $15,000–$40,000. Perry can calculate your stamp duty liability for any property.

First Home Guarantee Scheme

The federal government's First Home Guarantee allows eligible first home buyers to purchase with as little as 5% deposit without paying Lenders Mortgage Insurance (LMI). Places are limited — connect with a mortgage broker through AgentFinance to check eligibility.

The buying process step by step

• 1. Get pre-approved — know your borrowing power before you search
• 2. Research suburbs — Perry can help you find the right area for your budget
• 3. Inspect properties — attend opens, ask questions, take notes
• 4. Due diligence — building inspection, pest report, strata report (if unit)
• 5. Make an offer — understand what to offer and how to negotiate
• 6. Sign the contract — review with a conveyancer before signing
• 7. Settlement — typically 30–90 days after contract exchange

Common first home buyer mistakes

• Buying at or above borrowing limit with no buffer
• Skipping a building and pest inspection
• Not getting independent legal advice on the contract
• Letting emotion override fundamentals at auction
• Not factoring in all purchase costs (stamp duty, legal, inspection, moving)