First Home Buyer Benefits — ACT
| Benefit | Amount / Detail |
|---|---|
| First Home Owner Grant | None — ceased 1 July 2019 |
| Stamp duty | $0 from 1 July 2026 if eligible |
| Stamp duty concession | Home Buyer Concession Scheme: full duty exemption up to $1,000,000 (income test applies) |
| First Home Guarantee (federal) | 5% deposit, no LMI — unlimited places, no income caps |
| Help to Buy (federal) | Government co-owns up to 30–40% — as little as 2% deposit |
| FHSSS | Withdraw up to $50,000 from super for deposit |
The Home Buying Checklist — ACT
Before You Start
- Check your borrowing capacity — use a calculator or talk to a broker
- Get pre-approval from your lender (valid 3–6 months)
- Save your deposit — most lenders want 5–20% of the purchase price
- Budget for upfront costs: stamp duty, legal fees ($1,500–$3,000), building/pest inspection ($500–$800), loan fees
Finding and Buying
- Search, inspect, and shortlist properties
- Get a building and pest inspection before committing
- Make an offer or bid at auction — know your limit and stick to it
- Exchange contracts — you'll pay a deposit (usually 10% or 0.25% at auction)
- Engage a conveyancer or solicitor for the legal work
Settlement and Beyond
- Your lender finalises the loan — formal approval
- Pay stamp duty (your conveyancer handles this)
- Do a final inspection before settlement
- Settlement day — keys are yours. Update your address with the ATO, Medicare, banks, electoral roll
- Set up utilities, internet, contents insurance, and council rates
Costs Beyond the Purchase Price
Budget an extra 5–8% of the purchase price for upfront costs. On a $700,000 home in ACT, that's roughly $35,000–$56,000 on top of your deposit — covering stamp duty, legal fees, inspections, loan fees, and moving costs.
Frequently Asked Questions
How much is stamp duty in ACT?
For first home buyers: Home Buyer Concession Scheme: full duty exemption up to $1,000,000 (income test applies). For other buyers, stamp duty is progressive — use a stamp duty calculator for your exact figure.
How much is the first home buyer grant in ACT?
The ACT has no First Home Owner Grant — it ceased on 1 July 2019. Instead, from 1 July 2026 eligible first home buyers pay no conveyance (stamp) duty at all under the Home Buyer Concession Scheme, with no income threshold and no price cap. This is for new homes only — established homes don't qualify for the grant but may get stamp duty concessions.
How much deposit do I need?
With the First Home Guarantee, as little as 5% ($35,000 on a $700,000 home) with no LMI. With Help to Buy, as little as 2%. Without government schemes, most lenders want 20% to avoid LMI.