First Home Buyers

First Home Owner Grant (FHOG)

The First Home Owner Grant (FHOG) is a national initiative funded by the states and territories, each with its own rules, eligibility criteria, and application process. Below you’ll find the official government websites for every state and territory in Australia. Use these links to check your eligibility and apply directly.

• New South Wales (NSW) – Service NSW: First Home Owner (New Home) Grant

• Victoria (VIC) – State Revenue Office Victoria: First Home Owner Grant

• Queensland (QLD) – Queensland Revenue Office: First Home Owner Grant

• Western Australia (WA) – WA Department of Treasury and Finance: First Home Owner Grant (FHOG)

• South Australia (SA) – RevenueSA: First Home Owner Grant

• Tasmania (TAS) – State Revenue Office Tasmania: First Home Owner Grant

• Northern Territory (NT) – NT Government: First Home Owner Grant

• Australian Capital Territory (ACT) – ACT Revenue Office: First Home Owner Grant (and current concessions)

Home Guarantee Schemes

This is a federal government initiative administered by Housing Australia to help eligible home buyers (mostly first home buyers and single parents) get into a home sooner. It operates via guarantees to participating lenders so that you don’t need to pay Lenders Mortgage Insurance. Property price caps for FY2026 are:

https://www.housingaustralia.gov.au/support-buy-home/eligibility-tool

Stamp Duty (Transfer Duty) Concessions for First Home Buyers

Each Australian state and territory offers different concessions or exemptions on stamp duty (also called transfer duty) for eligible first home buyers. Below are the official government links for up-to-date details in each jurisdiction:

• New South Wales (NSW)
  First Home Buyers Assistance Scheme – full or partial duty exemption depending on property value.
  Revenue NSW – First Home Buyers Assistance Scheme

• Victoria (VIC)
  Exemptions for properties valued at $600,000 or less, and concessions up to $750,000.
  State Revenue Office Victoria – First Home Buyer Duty Exemption or Concession

• Queensland (QLD)
  First home concession applies to homes valued under $550,000 (concessions available up to $800,000).
  Queensland Government – First Home Concession

• Western Australia (WA)
  First Home Owner Rate of Duty – exemption or reduced duty depending on property value.
  WA Government – Duties Fact Sheet: First Home Owner Rate

• South Australia (SA)
  Full exemption from stamp duty for eligible first home buyers purchasing new homes or vacant land.
  RevenueSA – First Home Owner Grant & Stamp Duty Relief

• Tasmania (TAS)
  Duty concession for first home buyers of established homes valued $750,000 or less (to 30 June 2026).
  State Revenue Office Tasmania – First Home Buyers Duty Concession

• Northern Territory (NT)
  Stamp duty concessions and exemptions available for first home buyers, including house-and-land packages.
  NT Government – Home Owner Assistance & Stamp Duty

• Australian Capital Territory (ACT)
  Home Buyer Concession Scheme – full or reduced duty based on income and property thresholds.
  ACT Revenue Office – Home Buyer Concession Scheme

Each scheme has different eligibility requirements (property value caps, income tests, or new vs. established home criteria). Always confirm details directly via the official state or territory revenue office before applying.

Looking for a New Property?

Pegasus Wealth has the connections to help you

If you’re searching for a brand-new property, we work closely with trusted partners to help you find the right fit. For house and land packages, our partnered real estate agents do not charge fees. For existing properties, we’ll need to present your case with a pre-approval before proceeding. Once you have your pre-approval, property research will also be made available to you.

Building a Deposit

Apart from family guarantees and gifted funds, it is highly likely that you may need to show 5% genuine savings. This can be done with:

Saving Consistently: Use high-interest savings account linked to your everyday banking.

First Home Super Saver Scheme (FHSSS): Contribute pre-tax money into super, then withdraw it later for a deposit — often provides tax savings.

Rental Ledger: If you are renting through a property manager under a real estate agency, 6 months of your rental ledger maybe counted as part of your savings.

Want to know more? contact us now

Why not build new

Life is grand when you can have the house of your dreams! Choosing the style, specifications and making your vision a reality. It’s yours, you created it and its time for someone to make your dream come true.

There are two contracts to sign. The Contract of Sale is for the block of land that you purchase. The second contract is a Building Contract where you also have to sign off on the Building Specifications. This is the exciting part where we choose whether or not we want Miele, SMEG or Gaggenau (Bosch) kitchen appliances, marble or granite table tops, plus a plethora of choices, which can be time consuming, but at the same time can be a pleasurable experience.

The loan tends to be done on the basis of both with the Contract of Sale and Building Contract, with the Contract of Sale or land portion settling first before the build begins. The construction then has various stages where each stage is paid:

Let your wealth grow with you.

This is our specialty. We have extensive experience with this. Getting to be financially free on a six figure passive income is what we aim for and if you have any questions along the way, we can hold your hand along the way.

We recommend that you have one property already, whether it is an owner occupier home or another investment property that is fine. We will need to undertake a valuation of that property. If there is enough equity to draw on, this will be used as the deposit and costs.

The main loan will then be against the new investment property. This will be up to 90% Lending to Valuation including any Lenders Mortgage Insurance.

If you are new to this, we are happy to provide guidance along the way. We are most likely to have been there done that ourselves and have had to indulge in all sorts of property strategies.

We also assist you in setting goals and there are certain milestones to hit.

This is the stuff that can help you pay your home loan off faster, minimise your taxes whilst getting someone else to pay off your mortgage so that you can reap the benefits down the track. We will show you how and stalk you along the way to make sure you are maximising the benefit of having an investment property.

At some point you may have to pay taxes when rental income surpasses the loan repayments, depreciation and other costs of carry.

More than just a mortgage.

Getting a home loan health check is important. You want the best structure, strategy and interest rate to pay down your debt as soon as possible. If this is your owner-occupier home debt, there is no point in you having it. There is no benefit to you in having this debt, so pay it down as fast as possible!

We encourage people to get a monthly statement for their loans. This way you can keep track that your payments are being made on time as well as your interest rate. You may find that over time, lenders will to raise your interest rates. Any excuse will do. If the Reserve Bank of Australia were to raise rates, lenders will do the same. The Royal Commission introduced recommendations and to implement these interest rates were raised as they now have to pay their staff for working more hours to ensure compliance of the loans coming through. Finance Brokers are there to keep the lenders honest, otherwise, their profit is driven by the amount of interest you are paying to them. Many clients have found that lenders are not willing to reduce or match an interest rate they have found until we have gotten involved.

Lenders do want your business though and in saying that, they may have different incentives in place especially in the form of a refinance rebate. Rates are still low today. To see if you can keep more of your money in your pocket, call us now. Better in yours than theirs.

When you want to get ahead.

When a residential property is being used as security for a loan, it becomes a lot cheaper. People often have a lot of un-beneficial debt that has a high interest rate attached. For instance credit card debt often has a 55 day interest free period before a 20% interest rate kicks in. Now if you have $20,000 in credit card debt where you are only making the bare minimum repayment of 3% per month (figure is often between 2% to 5%), then you are repaying $600pm, then taking into account the compounding of interest, by the end of the year, you would have paid $??? in interest. Now if you have a $20,000 debt on your credit card and you have good credit, find a zero balance transfer 12-24 month interest free credit card to move it onto and be disciplined about paying it off. There is likely to be annual fees to take into account, but this is a good option.

Other debts you may want to take into consideration are personal loans and car leases (especially those with a balloon payment at the end). You can also get cash out for renovations, investment purposes, ??? Whilst you can borrow to pay the ATO or for holidays, I would recommend learning to budget to pay your taxes and if you want to go on a holiday, save for it.

If your debts are difficult to get rid of with your current income and you can use your property as security, it maybe well worth undergoing a debt consolidation. A home loan interest rate is far easier to deal with and you can choose the term you would prefer to pay it off.

Control in your hands, where it belongs.

Self Managed Superannuation Funds fundamentally give you more control over your superannuation as you have to manage it yourself. You will need at least $150,000 if you wish to buy a property as the deposit and costs and the fees to set up the SMSF come from this. The lender will also need to see 10% liquidity inside the fund for repayments. To note, the SMSF can have up to 4 members, where all members have to be directors of the corporate trustee.

Need something a bit smaller?

If you need some quick money that you can pay down quickly, these loans are much faster in their approval. Interest rates would be higher than that of a home loan.

Build your business success.

These loans are for non-residential purposes. It can be for commercial property like offices, warehouses, retail shops, hotels and resorts and property development. Be aware, if you hold more than 4 apartments in the same complex you may fall into this category.

Lenders often have an appetite to lend to professionals such as doctors who would like to purchase their own surgery. Lawyers and accountants are also in the same category.

Commercial loans are also for purchasing a business. Importantly, you need to think about your capability to manage and how successful you have been in the past. You will also need a business plan complete with past and projected financials. Think about what collateral a lender would accept. A secured loan would have a lower interest rate than unsecured debt. It is expected that you would have done your SWOT analysis thoroughly and what makes you unique in your industry. I have had clients who have been successful because the new business was piggy backing on the one they already had. Importantly, think of the 5 C’s of credit of Character, Capacity, Capital, Collateral and Conditions as to get any loan through, it must meet with the criteria that the lender wants.