Everything you need to know about South Australia’s First Home Owner Grant

With property prices throughout South Australia at record highs in 2024 and still climbing, it's arguably never been more difficult to clamber onto the property ladder.

Budding home owners in South Australia often need all the help they can get. If you're considering purchasing, you'd be crazy to not at least check whether you're eligible for a $15,000 boost via the First Home Owner Grant.

South Australia First Home Owner Grant

The South Australian First Home Owner Grant (FHOG) is a payment of up to $15,000 for first home buyers building or buying a new home. There is no income or means test, and from 6 June 2024 there's no limit to the value of a property that the grant can be used to buy.

Eligibility for the SA First Home Owner Grant

To qualify for the grant, you'll need to demonstrate the following:

• All loan applicants need to be at least 18

• At least one applicant needs to be an Australian citizen, permanent resident, or a New Zealand citizen with permanent residency on a Special Category Visa

• You can't have owned or held any interest in an Australian property before

• You can't have received a first home owner grant in any state or territory

• All applicants must reside in the property as their principal place of residence for a continuous period of at least six months, starting within 12 months of the date of settlement

See also: A state-by-state guide to First Home Owner Grants

Eligible properties

The grant is exclusively for first home buyers who are buying or building a new home. That means the property needs to not have been previously occupied or sold as a place of residence. Substantially renovated homes may be considered new, depending on the extent of the renovations.

The property can be a house, townhouse, or apartment, provided that it fits the definition of a new home.

For contracts settled before 6 June 2024, the property and/or land cannot be worth more than $650,000. This cap doesn't exist for settlements completed after the 6 June 2024.

How to apply for the South Australian First Home Owner Grant

Applying for the First Home Owner Grant in South Australia is typically relatively straightforward.

If your lender is on the list of approved agents, it can lodge the FHOG application on your behalf. Should you need the grant in order to settle or to make the first progress payment, the application must be lodged with an approved agent. Most of major banks and non bank lenders are eligible, but it's still wise to check whether your preferred lender is an approved agent.

If you can't lodge your application through your lender, you can lodge it through RevenueSA instead. Simply head to the RevenueSA website and go through the application process outlined.

To apply for the grant, you'll likely need the following:

• 100 points of ID (birth certificate, passport, drivers license, ect).

• Evidence you live in Australia (Medicare Card, debit or credit card, etc).

• Evidence of your marriage or de-facto partnership (if applicable).

• If you're buying a new or off-the-plan home, you'll need the purchase contract

• If you're building, you'll need the building contract, as well as all major receipts for construction costs.

Applications must be lodged within 12 months of completing the transaction.

When will the grant be paid?

The length of time it will take for the grant to be paid depends on how the application was lodged, as well as the type of property:

	Applying with an approved agent	Applying through RevenueSA
A new or off-the-plan home	At date of settlement	Within five days after the application is approved, and RevenueSA gets proof of title and confirmation of settlement.
Contract to build	On date of first progress payment by the lender	Within five days after the application is approved, and RevenueSA gets a copy of the first progress payment invoice.
Plan on doing the building yourself	When the approved agent receives the application, including appropriate supporting evidence and a statutory declaration that the house is done and ready to be lived in.	Within five days after the application is approved, and RevenueSA gets appropriate supporting evidence and a statutory declaration that the house is done and ready to be lived in.

Frequently Asked Questions about the South Australian First Home Owner Grant

Can you use the FHOG as a deposit?

The South Australian FHOG can be used as part of the deposit for the property purchase. However, at $15,000, it likely won't be enough to cover the entire deposit, particularly if you're trying to avoid Lenders Mortgage Insurance (LMI).

Is there an income cap or means test for the grant?

The South Australian FHOG does not have an income cap or means test. As long as you meet the eligibility criteria, you can apply for the grant.

Can the grant be used in conjunction with other government assistance schemes?

The South Australian FHOG can be combined with other government assistance schemes like the First Home Guarantee.

Is there any other help for first home buyers in South Australia?

In addition to the federal First Home Guarantee, first home buyers in South Australia may also be able to benefit from stamp duty exemptions. This only applies for those buying new or off the plan properties, or building on vacant land. From June 2024, there are no property value caps for stamp duty exemptions in South Australia.

See also: A state-by-state guide to stamp duty exemptions

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