Home Buying
First Home Buyer Concepts
The main schemes available to first home buyers: stamp duty concessions, the First Home Super Saver Scheme, and the low-deposit guarantee.
What it is
First home buyers in Australia can draw on several government schemes: state-based stamp duty concessions (see Stamp Duty), the First Home Super Saver Scheme (FHSS), which lets you save part of a deposit inside super's lower tax environment, and the Australian Government 5% Deposit Scheme (renamed from the First Home Guarantee on 1 October 2025), which lets eligible buyers purchase with a smaller deposit without paying Lenders Mortgage Insurance (LMI).
Who it applies to
Australians who haven't owned property before (or meet specific re-entry criteria) purchasing a home to live in.
Key figures
- FHSS annual contribution limit
- $15,000 per year
- FHSS lifetime withdrawal cap
- $50,000 per person ($100,000 for eligible couples)
- 5% Deposit Scheme
- As low as 5% deposit, no LMI, unlimited places and no income cap from 1 October 2025
Important limitations
Guarantee scheme property price caps and lender participation vary by location and change periodically, confirm current details with Housing Australia or a participating lender. This reference does not model individual eligibility.
Official sources
- Australian Taxation Office (ATO) - First home super saver scheme
- Housing Australia - 5% Deposit Scheme
Educational information only, not financial advice.