First Home Buyer Action Plan (Australia 2025-26)
Pick your stage (saving, buying, or owning), enter your numbers, and we'll rank the first-home-buyer decisions that apply to you — ordered by dollar impact x deadline urgency. 12 levers across 8 states cover FHSS, stamp duty concessions, First Home Owner Grant, LMI waiver, mortgage structure, buying costs, CGT exemption, land tax, offset utilization, and refinance timing.
FAQ
What is the First Home Super Saver (FHSS) scheme and how much can I save?
The FHSS scheme lets you make voluntary super contributions (up to $15,000/year, $50,000 lifetime) and withdraw them for a first home deposit. Contributions are taxed at 15% instead of your marginal rate. On withdrawal, you pay your marginal rate minus a 30% offset — typically saving thousands.
Which state has the best first home buyer stamp duty concessions?
Stamp duty concessions vary by state. NSW exempts properties under $800,000 and phases concessions to $1,000,000. VIC exempts under $600,000 with concessions to $750,000. QLD exempts under $500,000 with concessions to $550,000. The Action Plan above automatically computes your state-specific saving at your target price.
Can I stack the FHB stamp duty concession with the First Home Owner Grant?
Yes — they stack. The stamp-duty concession reduces or eliminates duty, while the FHOG is a separate cash payment ($10,000-$30,000, state-dependent, usually for new builds). Both must be applied for before settlement. Most states also allow stacking with FHSS super withdrawal.
How much deposit do I need to avoid LMI?
Lenders Mortgage Insurance (LMI) is typically required when your deposit is below 20% of the property price. On a $750,000 property, that means a $150,000 deposit. Some professions (medical, legal, accounting) can get LMI waived with as little as 5-10% deposit.
Should I use an offset account or a redraw facility?
An offset account is typically better for PPORs — it gives you full liquidity while reducing interest (tax-free). Redraw can create tax complications if you later rent the property out, as redrawn funds may not be fully tax-deductible.
What buying costs should I budget for beyond the deposit?
Budget for: stamp duty (see FHB concession), conveyancing/solicitor ($1,500-$3,000), building & pest inspection ($600-$1,200), mortgage application fees ($0-$1,000), LMI if deposit is under 20%, and rate adjustments at settlement. Total typically 3-5% of purchase price including stamp duty.
Tax Accuracy & Sources
This calculator is an estimate tool and may not cover all personal circumstances. For state-based taxes, confirm details with your state or territory revenue office.