VIC first home: $600k vs $750k — why the tick is not enough
Victoria FHB outcomes move with price and eligibility. Run two prices so you see duty and cash before you stretch the offer.
Engine 2026-07-ftc. Educational estimate — not a Revenue Office assessment or credit advice.
Briefing
Victoria punishes price stretch. The same first-home live-in ticks at $600,000 and $750,000 are not “basically the same purchase.” Duty and funds-to-complete move. Caps and brackets care about the number you actually pay.
Agents will talk you up with “just a bit more.” Your job is to re-run the cash stack at the new number before you nod. If the higher price only works with an imaginary grant on established stock, it does not work.
Established homes often get nil FHOG in Victoria. Budget the grant as zero unless your conveyancer confirms otherwise. Scheme caps can be tighter than NSW metro — do not import another state’s 5% comfort zone.
Living-in and prior ownership still decide first-home paths. Ticking FHB without the occupancy story fails. Co-purchasers matter.
Use this dual-price comparison as discipline, then open the Victoria learn hub and the VIC first-home buyer calculator with your real offer.
The decision
Is your real offer price still inside the concession path you think you have?
- FHB ticks without living-in / eligibility still fail
- Price moves change duty faster near bracket and concession edges
- Established homes often get nil FHOG — do not budget a grant you will not receive
- Stretching “just a bit more” can quietly blow the cash buffer
- Scheme caps in VIC can be tighter than NSW metro — check before you assume 5%
What to tick
- State: VIC
- Live in it: Yes
- First home buyer: Yes
- Established dwelling
- Compare $600,000 vs $750,000
Engine comparison
$600k FHB live-in
Lower price point — duty and funds-to-complete stay tighter. Use this as the discipline case when agents push you upward.
- Stamp duty
- $0
- Deposit
- $120,000 (20%)
- LVR
- 80.0%
- LMI flag
- Not flagged
- Funds to complete
- $121,633
VIC FHB full exemption (≤ $600k)
Within 5% Scheme cap ($950,000) for VIC metro / regional centre — no LMI under Scheme
$750k FHB live-in
Same ticks, higher dutiable value — watch duty and total cash rise before you bid. The emotional step from 600 to 750 is smaller than the cash step feels.
- Stamp duty
- $40,070
- Deposit
- $150,000 (20%)
- LVR
- 80.0%
- LMI flag
- Not flagged
- Funds to complete
- $191,703
VIC FHB sliding concession ($600k–$750k)
Within 5% Scheme cap ($950,000) for VIC metro / regional centre — no LMI under Scheme
Takeaway
Stretching the offer to “just get the house” can quietly blow the cash buffer. Model the actual contract price, not a hopeful round number, and confirm FHB living-in rules with your conveyancer before you treat a concession as locked. If the higher price only works with an imaginary grant, it does not work.