First home buyer calculator
The government support available to a first home buyer, totalled across every applicable scheme.
Government support available
Estimate$28,279
Plus a guarantee place removing lenders mortgage insurance entirely
- First home owner grant
- $0.00
- Stamp duty saved
- $28,279
- FHSS release available
- $25,000
| Property value | $750,000 |
|---|---|
| Your savings | $45,000 |
| FHSS release | $25,000 |
| Stamp duty without the concession | -$28,279 |
| Stamp duty you actually pay | $0.00 |
| Deposit required at 5% | -$37,500 |
| Surplus after costs | $32,500 |
- A Home Guarantee place lets you buy with a 5% deposit and no lenders mortgage insurance — usually the single largest saving here.
- No first home owner grant applies here. New homes only, with a $750,000 value cap.
On $750,000 in New South Wales the duty exemption alone is worth about $29,000, before any grant or guarantee place is counted.
Do you qualify
How this is calculated
Support schemes usually stack
Grants, duty concessions, deposit guarantees and superannuation release schemes are typically documented separately and can apply together. On a $750,000 Australian purchase the total runs to tens of thousands.
support = grant + duty saved + super releaseA deposit guarantee is often worth the most
Buying with a 5% deposit and no mortgage insurance avoids a premium that commonly exceeds $25,000 at high loan-to-value — more than any cash grant on offer.
Superannuation release is your own money
Australia lets first home buyers withdraw up to $50,000 of voluntary contributions. The gain is the 15% contributions tax rate rather than the marginal rate, not free money.
Worked example: $750,000 home with $45,000 saved
| Price | $750,000 |
|---|---|
| Savings | $45,000 |
| Duty concession | Depends on jurisdiction |
|---|---|
| Deposit guarantee | Subject to a price cap |
First home support differs enormously by country. Pick a country above for the schemes that apply where you are buying.
What this assumes
- A first home buyer meeting the eligibility tests.
- Owner-occupier rather than investor.
- Scheme places available when you apply.
- Voluntary contributions eligible for release.
Where this commonly goes wrong
- Guarantee or deposit schemes are often capped in number, so qualifying does not guarantee a place.
- Superannuation release schemes usually require approval before you sign a contract, not afterwards.
- Grants are frequently restricted to newly built homes, so an established purchase gets nothing.
Questions
What support is available to first home buyers?
Typically some combination of a cash grant, a transaction tax concession, a deposit guarantee removing mortgage insurance, and in Australia a release of voluntary superannuation contributions up to $50,000.
Which scheme is worth the most?
Usually the deposit guarantee, because avoiding mortgage insurance on a high loan-to-value purchase commonly saves $25,000 or more — more than any cash grant on offer.
Do the schemes stack?
In Australia, yes. The guarantee place, state grant, duty concession and super release are separate programmes with separate eligibility, and a buyer can hold all four at once.
Why do price caps matter so much?
Because they are cliffs. Australian guarantee caps run from $600,000 in the Northern Territory to $1,500,000 in New South Wales, and a purchase one dollar above the cap loses the place and the mortgage insurance saving entirely.
Is a superannuation release worth using?
Usually, because the contributions were taxed at 15% going in rather than your marginal rate. On $25,000 released, a 37% marginal taxpayer is materially ahead versus saving the same amount outside super.
Related tools
Sources
General estimate based on published ATO rates for the the current period. Not tax advice, and it does not consider your objectives, financial situation or needs. Confirm your position with the ATO or a registered tax agent.
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