Buying your first home is an exciting goal, but it can be challenging, and it makes sense to use all the help you can get to make your dream a reality. Fortunately, in 2025, there are more options than ever for buyers looking to secure their first home.
As of 2025, these support measures are set to evolve further, with new initiatives like the Help to Buy Scheme coming into play. Here’s a breakdown of the key government programs currently available, and the upcoming changes you should know about.
First Home Guarantee (FHBG)
The First Home Guarantee allows eligible buyers to purchase a home with a deposit as low as 5 per cent without needing to pay for Lenders Mortgage Insurance (LMI). This is a significant benefit because LMI can add thousands of dollars to your upfront costs, making homeownership more expensive than it needs to be.
Key features:
- Deposit as low as 5 per cent
- No Lenders Mortgage Insurance (LMI)
- Available for both new and existing homes
Income and property price caps apply, so it’s important to check if you qualify.
This scheme is particularly helpful if you’re struggling to save the typical 20 per cent deposit often required by traditional lenders. If you’re a single buyer, you are eligible for this scheme, as well as couples or families.
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First Home Super Saver Scheme (FHSSS)
The First Home Super Saver Scheme allows you to use some of your super savings to help fund your first home. The government lets you withdraw up to $50,000 (for individuals, or $100,000 for couples) from your superannuation account for your first home deposit, all while taking advantage of the concessional tax treatment that applies to super contributions.
How it works:
- You can make voluntary contributions to your super, and once they’re saved in your fund, you can apply to withdraw the amount to use toward your first home.
- You will need to be purchasing a home to live in and the property must be located within Australia.
- The maximum contribution that can be withdrawn is $15,000 per financial year, up to a total of $50,000 across multiple years.
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First Home Owner Grant (FHOG)
While not a scheme aimed at helping with deposits directly, the First Home Owner Grant (FHOG) is a one-off payment designed to assist first-time homebuyers with the costs associated with purchasing a new home. The amount varies by state and territory, generally ranging from $10,000 to $20,000. The FHOG is available to those purchasing newly built homes or homes that have never been sold before and there are property price caps and income thresholds to consider.
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Stamp duty concessions and exemptions
Stamp duty is one of the largest costs associated with purchasing a property, and it can often be a hurdle for first-time buyers. Many states offer stamp duty concessions or exemptions for first home buyers. Each state and territory has its own rules, so check the specific conditions in your area to see how much you might be able to save.
Shared equity schemes and the upcoming Help to Buy
Some states and territories have shared equity schemes, which are a great option if you’re struggling to come up with a large deposit. These programs allow you to co-own a property with the government or a private entity, making it easier to get into the market with a lower deposit.
In a new initiative by the Labor government, the ‘Help to Buy’ scheme, passed by the Australian Parliament in November 2024, will allow eligible lower-income first home buyers to co-purchase a property with the government using a deposit of as little as 2 per cent. The scheme’s exact start date is still to be determined.
Buying your first home can be easier with the right support and there are many ways to make your homeownership dreams come true. The key is to understand what’s available, determine your eligibility, and take full advantage of the assistance on offer.
It’s worth talking to us to make sure you’re making the most of all the opportunities out there. With a little research and planning, you could be stepping into your very first home sooner than you think!
