Understanding the First Home Owner Grant VIC 2026: What You Need to Know

What is the First Home Owner Grant (FHOG)?

The First Home Owner Grant (FHOG) is a one-off financial assistance provided by the Victorian government to eligible first-time home buyers. As of the latest updates, the grant provides $10,000 for new homes in metropolitan areas and $20,000 for those purchasing or building in regional Victoria. To qualify, the home must be newly constructed or significantly renovated and valued at $750,000 or less.

Eligibility Criteria for the FHOG in 2026

To be eligible for the FHOG in Victoria, applicants must meet several criteria:

• First-Time Buyer: You must be purchasing your first home in Australia.
• Age and Citizenship: You must be at least 18 years old and an Australian citizen or a permanent resident.
• Property Value: The property must be valued at $750,000 or less.
• Residency Requirement: You must live in the home for at least 12 months, commencing within 12 months of settlement.
• Type of Property: The grant applies to new homes, meaning the property must not have been previously sold or occupied.

Practical Tips for Applying for the FHOG

1. Begin Early

Start your application process as soon as you decide to purchase a home. This gives you ample time to gather necessary documents and ensure everything is in order.

2. Understand the Costs Involved

While the grant is a great financial boost, be aware of other costs like stamp duty, legal fees, and moving costs. Budgeting for these will prevent unexpected financial strain.

3. Consult with Professionals

Working with a mortgage broker like Esteb and Co can streamline the process. They can provide insights into the best financing options and ensure you're meeting all requirements.

Common Mistakes to Avoid

Missing Documentation

Ensure all your documentation is complete and accurate. Missing paperwork can delay or even nullify your grant application.

Not Meeting Residency Requirements

Failure to reside in the property for the required duration can lead to repayment of the grant. Plan to meet the 12-month residency requirement to avoid complications.

Overlooking Additional Costs

Many first-time buyers focus solely on the grant and overlook other associated costs. Make sure you have a comprehensive financial plan.

How Esteb and Co Can Help

At Esteb and Co, we understand the complexities involved in buying your first home. Our experienced team can assist in navigating the application process for the First Home Owner Grant, ensuring you meet all criteria and deadlines. We provide tailored advice, helping you find the best mortgage products that suit your needs. Contact us today to start your journey towards home ownership.