How much is the first home owner grant in the Northern Territory?

The Northern Territory government actively helps first home buyers purchase their home through a First Home Owner Grant scheme that provides $26,000. But are you entitled to the full amount? And what other payments might you also receive? We explore how it’s calculated and how you can apply.

The First Home Owner Grant Scheme in the Northern Territory

The NT government’s First Home Owner Scheme is one of the most generous in the country, providing first homeowners with $26,000 towards the cost of their first home.

To be eligible, you need to be purchasing a new home, which may include a substantially renovated home. To prove this, you’ll need to fill out and lodge a vendor’s declaration when you apply for the grant.

You also must:

• Be buying as a person or people and not through a trust or company
• Be over 18 and a citizen or permanent resident (only one purchaser needs to meet this requirement)
• Not have held any interest in a property in Australia prior to 1 July 2000
• Not have owned and occupied a residential property in Australia after 1 July 2010
• Never have previously received the first home owner grant in any Australian State or Territory
• Occupy the property as your principal place of residence for at least six months within a year of settlement or construction ending

Calculating the first home owner grant in the NT

So long as you meet the eligibility criteria, you’re entitled to a flat payment of $26,000 towards the purchase of your home. This is not means tested and, unlike in some other states and territories, there is no limit to the value of the property you may purchase.

Applying for the FHOG in the Northern Territory

To apply for the FHOG, you should speak to your lender or mortgage broker. Alternatively, you can apply directly through the Territory Revenue Office by following the steps on the Northern Territory government website.

Stamp duty discounts for NT first homeowners

If you’re buying a property valued at less than $650,000, you may also be entitled to stamp duty relief of up to $23,928.60, regardless of whether you’re purchasing a new or established home. In fact, if your home is worth less than $500,000 you won’t pay stamp duty at all.

Read more about the stamp duty concessions for first homeowners in the Northern Territory.

Calculate the stamp duty you may have to pay on your property using our Stamp Duty Calculator.

Other grants for first homeowners

In even better news, these aren’t the only incentives the NT government provides to first homeowners.

Under the Household Goods Grant scheme, if you’re buying or building a new home, you may be entitled to a payment of $2,000 which you can spend on household goods from NT-based retailers. This includes:

• White goods such as refrigerators, air conditions and ovens
• “Brown” goods such as televisions, kitchen appliances and computers
• Furniture such as beds, tables, chairs and outdoor settings, and
• General household items such as towels, sheets and kitchenware.

After you apply, this grant will be paid directly into your bank account. You’ll need to spend the money within 90 days and submit receipts. Whatever you don’t spend, you will have to pay back.

The NT Home Renovation Grant

Even if you don’t buy a new property as your first home, the NT government may still provide you with financial help.

First home buyers who purchase an established property may be eligible for up to $10,000 towards the cost of improving or renovating it. This can be used to pay up to five local business operating in the NT and employing NT residents.

To be eligible you’ll need to meet the same criteria as those applying to the stamp duty concession. In particular, the home must be valued at less than $650,000.

If you successfully apply for this grant, you’ll receive a series of vouchers with a minimum value of $500. Owner builders and DIY renovators aren’t eligible for this grant.