Fraser Rise · First home buyers
Buying in Fraser Rise: Grants and Stamp Duty Explained
Victoria's first-home grant and stamp-duty relief are different forms of support. Understand the distinction before including either in your budget.
By Offset Mortgage · General mortgage information
A grant is not the same as a duty concession
When planning a first purchase in Fraser Rise, it is easy to group all first-home support together. The Victorian First Home Owner Grant and first-home buyer land transfer duty relief are separate measures, with their own requirements. Eligibility for one does not automatically mean eligibility for the other. Check the State Revenue Office information for your property and circumstances before treating an expected benefit as available cash.
The property and your circumstances both matter
Whether a home is new or established, the value of the transaction, previous ownership and how you intend to occupy the property can affect eligibility. Buying in a particular suburb does not itself establish that you qualify. If you are comparing an established home with a newly completed property or a build, ask which rules apply to each option rather than assuming the same buying budget works for all three.
Check when any support becomes available
An expected grant is not necessarily money you can use for every upfront payment. The application process and payment timing can matter, especially where land settlement and building payments occur at different times. Ask your conveyancer and broker how any confirmed support fits with the deposit, settlement and lender assessment. Keep enough funds available for costs that fall due before support is paid.
Use current official information
Rules and eligibility conditions can change. The official links below are the place to check current Victorian requirements; this article deliberately does not lock in thresholds that could become outdated. Chris and our team can discuss the finance side from our Fraser Rise office on Eastcastle Drive, while your conveyancer can advise on the legal and duty aspects. We also welcome buyers throughout Melbourne and Australia-wide.
