For contracts entered into on or after 1 January 2010, the Grant will only be payable where the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land. For contracts entered into on or after 1 July 2013, eligibility for the Grant will be limited to buyers of new homes.
For contracts entered into on or after 1 July 2013 to build or purchase a new home, a payment of up to $10,000 is available for eligible first home buyers.
You may also be eligible for transfer duty concessions. Meeting the eligibility requirements for the Grant will entitle you to the duty reduction, however, you will not be entitled to the Grant if you buy an established home and the contract date is on or after 1 July 2013. The rate of duty concession can be found on the Victorian government page.
My First Place cannot provide an indication regarding your eligibility to a First Home Owners Grant. For eligibility please look to your specific state’s First Home Owners Grant page, or contact your state government department (contact details are found in First Home Owners Grant Resources).