​Navigating Victoria’s Homeowner Grants and Incentives

Whether you’re looking to buy, upgrade, or invest, there are government grants and incentives that could help you reduce costs. The Victorian government offers a range of programs, from first-home buyer support to stamp duty concessions and sustainability rebates, all aimed at making property ownership more accessible and affordable. Staying informed about these opportunities is key to maximising savings and making the most of your investment.

First Home Owner Grant (FHOG) 

The First Home Owner Grant is a one-off payment aimed at assisting eligible first-time buyers in purchasing a new home. As of 2025, the grant offers $10,000 for those buying or building a new home valued up to $750,000 in metropolitan Melbourne. The property must be a newly constructed house, townhouse, apartment, or unit and should not have been previously occupied.

Key eligibility criteria:

• You must be an Australian citizen or permanent resident.
• You must occupy the property as your principal place of residence for at least 12 months.
• Neither you nor your spouse/partner should have owned a home in Australia before 1 July 2000.

For more detailed information and to apply, visit the State Revenue Office (SRO) Victoria website.

Stamp Duty Concessions and Exemptions

Stamp duty, also known as land transfer duty, is a significant upfront cost when purchasing a property. However, several concessions and exemptions are available to reduce this burden:

• First-home buyers purchasing a property under $600,000: Eligible for a full exemption from stamp duty.

• Properties valued between $600,000 and $750,000: May qualify for a concession, with the duty calculated on a sliding scale.

• Pensioners buying a home under $750,000: Can apply for a one-time stamp duty concession.

• Off-the-plan properties: As of 21 October 2024, the Victorian government introduced a 12-month stamp duty concession for off-the-plan purchases of apartments, units, and townhouses. This concession removes previous eligibility thresholds, allowing all buyers—not just first-home buyers and owner-occupiers—to deduct construction costs from the dutiable value, potentially leading to substantial savings. Theguardian.com

Example: A buyer purchasing an off-the-plan apartment for $620,000 before construction starts could see their stamp duty reduced from approximately $32,000 to around $4,000, depending on the construction costs deducted. TheGuardian.com

For comprehensive details on stamp duty concessions and to calculate potential savings, refer to the SRO Victoria’s stamp duty page.

Sustainable Home Incentives

Victoria offers several programs to encourage sustainable living and reduce energy costs:

• Solar Homes Program: Provides rebates for solar panel installations, solar hot water systems, and battery storage to eligible homeowners. More information is available at Solar Victoria.
  
  
• Victorian Energy Upgrades (VEU) Program: Offers discounts on energy-efficient appliances, heating, cooling, and insulation upgrades. Details can be found on the Victorian Energy Saver website.
  
  
• Zero Emissions Vehicle (ZEV) Subsidy: Assists with the costs of purchasing electric vehicles and installing home charging stations. Learn more at the Energy Victoria ZEV page.

Latest Federal Budget 2025–26 Updates on Grants & Incentives

The Australian Federal Budget 2025–26 introduces key updates to grants and incentives aimed at assisting homebuyers in Victoria. The Help to Buy program has been expanded, providing eligible Australians with an equity contribution of up to 40% for new builds and 30% for existing properties. Adjustments to income and property price caps have also been made, increasing affordability for more buyers.

These changes could mean significant savings for first-home buyers, particularly with updated stamp duty concessions and federal initiatives designed to reduce mortgage costs.

For a more detailed breakdown of these updates and how they may apply to your situation, reach out to the Love & Co team. We’re here to help you navigate these opportunities and make the most of the available grants and incentives.

Navigating Your Options

With various grants and incentives available, it’s essential to understand which apply to your situation. Here are some practical steps to guide you:

1. Check your eligibility: Visit the State Revenue Office (SRO) Victoria website to confirm grant requirements.
   
   
2. Seek professional advice: Consult with a mortgage broker or financial adviser to understand how these grants can impact your home loan and overall financial planning.
   
   
3. Plan your application early: Some grants have strict deadlines, so ensure you have all necessary documentation ready to avoid missing out.
   
   
4. Stay informed: Government incentives can change, so regularly check official sources to take advantage of new opportunities.

At Love & Co, we are committed to helping you navigate the home-buying process with confidence. If you’re looking to buy, our team can provide insights on properties that align with available grants and incentives.

Need guidance on your homeownership journey? Fill in the form below to get started.

Disclaimer: This blog is intended for informational purposes only and is based on publicly available sources at the time of writing. Grant eligibility, incentives, and government policies may change, and Love & Co does not provide financial, legal, or tax advice. We encourage readers to verify details with official sources, such as the State Revenue Office Victoria, or seek professional guidance before making any financial decisions.