Every scheme, one number
First Home Buyer Calculator - Victoria
A Melbourne first home buyer at $600,000 needs about $33,400 up front: 5% deposit under the federal scheme, zero transfer duty, no LMI. Duty phases in from $600,001 to $750,000 - and the uncapped off-the-plan concession can pull a higher price back under the line.
- Rates verified
- 2026-08-03
- Source
- SRO Victoria
- Scheme cap
- $950,000
Your purchase
Total cash to buy
$33,400
With the 5% Deposit Scheme: 5% deposit, no LMI.
- Deposit (5%)
- $30,000
- Transfer duty
- $0
- Duty concession applied
- saves $31,070
- Conveyancing, inspections, loan setup
- $3,400
- LMI avoided via the scheme
- saves ~$19,380
Want duty on its own, across investor, owner-occupier and first-home scales? That's the full Victoria transfer duty calculator.
Scheme caps per firsthomebuyers.gov.au; duty and grants from SRO Victoria (source). Eligibility criteria apply to every scheme - confirm before committing. General information only.
Every benefit a Victorian first home buyer can claim in 2026
Status chips update live against the price, location and build type set above.
First home duty exemption
Zero duty to $600k
Full land transfer duty exemption to $600,000 for new and established homes, sliding concession to $750,000. At $650,000 the duty is $11,356 instead of $34,070.
Official sourceFirst Home Owner Grant
$10,000
For a new home valued to $750,000 (off-the-plan: contract price). New homes only - never previously occupied or sold. Live in for 12 continuous months starting within 12 months.
Official sourceOff-the-plan duty concession
Uncapped to Apr 2027
For contracts before 21 April 2027, the temporary off-the-plan concession deducts post-contract construction costs from dutiable value for apartments and townhouses - no price cap, all buyers. It can pull an off-the-plan first home under the $600,000 exemption line.
Official source5% Deposit Scheme
5% deposit, no LMI
Buy with 5% down and the government guarantees the rest - no lenders mortgage insurance, no income cap, unlimited places. Cap here: $950,000.
Official sourceHelp to Buy
Up to 40% shared equity
The government co-buys up to 40% of a new home (30% existing) with a 2% deposit. Income caps $103,000 single / $165,000 couple; 10,000 places a year.
Official sourceFirst Home Super Saver
Up to $50,000 from super
Release up to $15,000 of voluntary super contributions a year ($50,000 total per person, plus earnings) for the deposit, taxed at your marginal rate less a 30% offset.
Official sourceHow the Victorian first home buyer stack works
Victoria runs the classic first home buyer pair - a duty exemption to $600,000 (phasing to $750,000) and a $10,000 new-home grant to $750,000 - but adds a lever the other states lack: the temporary off-the-plan concession. Until 21 April 2027 it deducts post-contract construction costs from dutiable value with no price cap, which can drag an off-the-plan purchase under the exemption line and zero the duty entirely.
The federal layer does the deposit work: 5% down with no LMI under a $950,000 Melbourne-and-Geelong cap, or Help to Buy shared equity for income-eligible buyers now that the Victorian Homebuyer Fund has closed. At $600,000 the whole stack means roughly $33,400 to the settlement table instead of $150,000-plus unassisted - this calculator prices your exact combination.
The deposit is only the entry ticket - if the home ever becomes an investment property, the new-build-vs-established choice also decides its tax treatment under the 2026 negative gearing reform, and the repayment calculator shows what the loan itself costs from day one.
Frequently asked questions
Do first home buyers pay stamp duty in Victoria?
Not up to $600,000 - a full exemption applies for new and established homes. Between $600,000 and $750,000 duty phases in on a sliding scale: at $650,000 a first home buyer pays $11,356 instead of the standard $34,070. Above $750,000 the full rate applies.
How much is the First Home Owner Grant in Victoria?
$10,000 for a new home valued up to $750,000 - for off-the-plan purchases the cap applies to the contract price. Established homes are not eligible; their support is the duty exemption. The $20,000 regional grant ended for contracts from 1 July 2021.
What is the off-the-plan concession and how does it help first home buyers?
For contracts signed before 21 April 2027, Victoria deducts construction costs incurred after the contract date from the dutiable value of an off-the-plan apartment or townhouse - with no price cap. Buying early in construction can cut the dutiable value far enough to bring a first home under the $600,000 exemption threshold, making the duty zero.
Is the Victorian Homebuyer Fund still open?
No - it closed to new participants on 10 September 2025. Victorian buyers wanting shared equity now use the federal Help to Buy scheme: up to 40% government equity in a new home (30% existing), 2% minimum deposit, income caps of $103,000 single and $165,000 couple, and a $950,000 Victorian price cap.
What is the 5% deposit scheme cap in Victoria?
$950,000 for Melbourne and Geelong and $650,000 for the rest of the state, per the official 1 July 2026 caps. No income caps and unlimited places since 1 October 2025. The cap applies to the purchase price, and both the price and the lender valuation must sit under it.