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FIRST HOME OWNER INCENTIVES IN SOUTH AUSTRALIA: YOUR COMPLETE GUIDE

First Home Buyer Grants South Australia

Buying your first home is exciting — but let’s be honest, it can also feel overwhelming when you start thinking about deposits, stamp duty, and all the upfront costs involved.


The good news? If you’re buying in South Australia, there’s a range of incentives, grants, and schemes designed to help first home buyers get into the market sooner.


At Loan Theory, we’ve pulled together the most up‑to‑date guide so you know exactly what’s available and how it could work for you.


1. First Home Owner Grant (FHOG)


The First Home Owner Grant is a one‑off payment of up to $15,000 for eligible first home buyers.


Here’s what you need to know:


  • Available for new homes (including off‑the‑plan) and substantially renovated homes.

  • No property value cap for contracts signed on or after 6 June 2024 (expanded further in February 2025).

  • You must live in the property as your main residence for at least 6 continuous months within 12 months of settlement or completion.


If you’re buying an established (previously lived‑in) home, unfortunately this grant doesn’t apply — but keep reading for other options.


2. Stamp Duty Relief for First Home Buyers

South Australia has abolished stamp duty for eligible first home buyers purchasing:


  • A new home (including off‑the‑plan apartments)

  • Vacant land to build your first home


That’s a saving of tens of thousands of dollars — for example, on a $600,000 property, stamp duty would usually be over $26,000.


This relief does not apply to established properties — but it’s a huge help if you’re building or buying brand‑new.


3. HomeStart Finance (Low Deposit & Shared Equity Loans)

HomeStart is a South Australian government‑owned lender offering innovative ways to get into your first home sooner.


Low‑Deposit Loans

  • Start from as little as 2% deposit.

  • Designed for low to moderate income earners who might struggle with a traditional bank deposit.


Starter Loan

  • Up to $10,000 towards upfront costs (no interest or repayments for 7 years).


Shared Equity Option

  • HomeStart co‑owns part of the property with you in exchange for a share of any future gain (or loss).

  • This reduces your initial loan size and monthly repayments.


4. HomeSeeker SA Program

HomeSeeker SA is designed to give eligible buyers access to affordable homes and land at a set price — often below market value.


It’s open to:

  • First home buyers

  • SA Housing Trust tenants

  • People who meet specific income and asset limits


Properties are listed exclusively on the HomeSeeker SA website, so you’re not competing with investors or other buyers in the open market.


5. Federal Government Schemes

Alongside South Australian incentives, the Australian Government offers national schemes that first home buyers in SA can also access.


First Home Guarantee

Buy with as little as a 5% deposit without paying Lender’s Mortgage Insurance (LMI).


  • Available to first home buyers and previous owners who haven’t owned property in the last 10 years.

  • Includes a Regional First Home Buyer Guarantee and Family Home Guarantee for single parents or guardians.


First Home Super Saver Scheme

Make extra contributions to your super fund, then withdraw them (plus earnings) to use for your deposit.

This can be a tax‑effective way to save faster.


6. Rent‑to‑Buy & Other Pathways

While not a government program, some developers and housing providers offer rent‑to‑buy arrangements.

You rent the property with the option to purchase later, sometimes with a portion of your rent going toward your deposit.


These agreements can be complex, so it’s important to get professional advice before signing.


Which Scheme is Right for You?

With so many options — from cash grants and stamp duty savings to low‑deposit loans and shared‑equity models — the best choice will depend on:


  • Your deposit size

  • Whether you’re building or buying new

  • Your income and eligibility for state or federal programs


At Loan Theory, we help first home buyers figure out which combination of incentives will work best for them — and guide them through the application process from start to finish.


Ready to Explore Your Options?

The first home buyer landscape in South Australia has never been more generous. If you’re ready to start your journey — or want to know how much sooner you could buy with these incentives — we can help.


📞 Book a chat with Loan Theory today and let’s get you moving towards your first home.

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