Buying your first home can feel overwhelming, but the good news? There’s real support out there to help you get started. If you’re a first-home buyer in Victoria, you might be eligible for a mix of grants, stamp duty savings, and low-deposit loan schemes that can make home ownership more affordable than you think.
Here’s a simple breakdown of what’s available in 2025 and how to take advantage of it.
1. First Home Owner Grant (FHOG) – $10,000
If you’re buying or building a brand-new home under $750,000, you could receive a $10,000 grant. That’s money directly toward your purchase, and you don’t need to pay it back.
This grant is for brand new homes only — not established homes — and you need to live in the home for at least 12 months after moving in.
2. Stamp Duty Exemptions and Discounts
Stamp duty is a one-off cost when you buy a property, and it’s often one of the biggest. The Victorian Government offers big savings if you’re a first-home buyer: Discounted stamp duty for homes between $600,001 and $750,000.
This can save you tens of thousands of dollars, which is often the difference between “someday” and “soon”.
3. Australian Government 5% Deposit Scheme (formerly First Home Guarantee)
With this scheme, you can buy a home with just a 5% deposit and no Lenders Mortgage Insurance (LMI) — which could save you thousands. Following major policy changes on October 1, 2025, this scheme now has:
- No Income Caps
- Unlimited Places: The scheme is now available to all eligible first-home buyers.
- A Higher Price Cap: The property price cap for Victoria has increased to $950,000.
You must live in the home, and it can be either new or established.
4. Family Home Guarantee
If you’re a single parent, this one’s for you. You can buy a home with just a 2% deposit and no LMI. It’s designed to make homeownership more accessible for families doing it on their own.
5. First Home Super Saver Scheme (FHSSS)
This scheme lets you use your super to save your deposit. You can withdraw up to $50,000 of your voluntary super contributions when you’re ready to buy your first home.
It’s a great way to grow your deposit faster, thanks to the tax benefits of saving through super.
So… Where Do You Start?
With so many options, it’s hard to know what you’re eligible for, or how to apply. At Woodsong, Mickleham, we make it easy. Our First Home Buyer Specialists can:
- Help you understand which grants and schemes you qualify for
- Connect you with trusted finance brokers and builders
- Guide you through the full process, from savings to settlement
You don’t have to figure it all out alone. We’re here to make your first home journey clear, achievable, and exciting.
Start your journey at Woodsong today. Chat with our First Home Buyer Specialist and find out what’s possible.