A guide to buying your first home in 2026.
As we move into 2026, buying your first home in Tasmania is getting easier with a range of government grants and schemes now available, all helping first home buyers reduce costs and step into property ownership sooner.
What's on offer?
$30,000 New Home Builder Grant
This popular scheme has been reintroduced by the Tasmanian Government, providing a generous $30,000 to eligible applicants who purchase a new home from now until the 30th of June 2026. The grant is also available to those who purchase a new home after the 1st of July 2025.
Summary:
- $30k for new homes
- Funded by the Tasmanian Government
- Available until 30th June 2026 (unless extended)
For more information or eligibility requirements, head over to: https://www.sro.tas.gov.au/first-home-owner/eligibility
First Home Buyer Stamp Duty Concession
For those looking to purchase an existing home, the Tasmanian Government now offers a 100% duty exemption for property transfer duty (stamp duty), for homes values up to $750,000, up until the 30th of June 2026. With stamp duty for a $700,000 home coming in at over $26,000, this is a big saving when looking to buy an existing home.
Summary:
- Only for properties with a dutiable value of $750,000
- Save up to $28,935 in stamp duty fees
- Available until 30th June 2026 (unless extended)
For more information on the exemption and to see if you’re eligible, head to: https://www.sro.tas.gov.au/property-transfer-duties/concessions-exemptions/first-home-buyers-of-established-homes-duty-relief
5% Deposit Scheme
Introduced late last year, the 5% Deposit Scheme allows first home buyers to purchase a home with as little as a 5% deposit, backed by a federal government guarantee to avoid lenders mortgage insurance (LMI), saving first home buyers thousands.
Summary:
- Save over $20,000 on lenders mortgage insurance
- Requires a 5% deposit
- No income caps
Find out more at https://firsthomebuyers.gov.au/
MyHome Shared Equity Scheme
The MyHome Shared Equity program is a Tasmanian Government initiative delivered by the Bank of us, helping Tasmanians buy or build their own home by sharing upfront costs, requiring only a 2% deposit, and reducing ongoing mortgage repayments. The scheme contributes equity (up to 40% for new builds, 30% for existing homes) and is repaid within 30 years.
Summary:
- Requires just a 2% deposit
- 40% contribution for new homes, 30% for existing
- Powered by the Bank of us
To find out more about the MyHome Share Equity Scheme, head to https://bankofus.com.au/my-home
First Home Super Saver Scheme
Administered by the Australian Tax Office, the First Home Super Saver scheme (FHSS) allows you to make personal voluntary contributions into your super fund to help you save for your first home. Concessional contributions are taxed at only 15%, which is usually less than your marginal income tax rate. Assessable FHSS amounts also benefit from a 30% FHSS tax offset.
Summary:
- Boost your savings for a home using the power of your superannuation
- Save on applicable tax for concessional contributions
To find out if this is program is right for you and any eligibility requirements, head to https://firsthomebuyers.gov.au/first-home-super-saver-scheme
Next steps?
With these programs in place, first home buyers can save thousands and enter the market sooner. Whether you are looking for a new build or an established property, understanding these options is key to planning your purchase.
If you are unsure which scheme works best for your situation, we are here to point you in the right direction.
Looking for a new home today?
If you are considering a new build, why not take a look at The River View? Located in Old Beach, this new development offers 51 modern townhouses, all eligible for the $30,000 New Home Builder Grant.
Combining contemporary design with a scenic riverside location, The River View is an ideal choice for first home buyers looking to maximise their benefits. To find out more about the River View or to make an enquiry, head to https://www.developersites.com.au/the-river-view-old-beach/