First Home Buyer Benefits — SA
| Benefit | Amount / Detail |
|---|---|
| First Home Owner Grant | $15,000 |
| Value cap | No cap (removed June 2024) |
| Stamp duty concession | Full exemption on new homes (uncapped). No concession on established homes. |
| 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 — SA
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 SA, 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 SA?
For first home buyers: Full exemption on new homes (uncapped). No concession on established homes.. 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 SA?
The FHOG in South Australia is $15,000 for new homes (value cap: No cap (removed June 2024)). 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.