The first home owner grant is available to eligible applicants who are buying or building their first home. First home owners purchasing or building a new home may be eligible to receive a grant of up to $10,000. There are no income or assets tests to qualify for the first home owner grant, however the total value of the home must not exceed $750,000 if the property is south of the 26th parallel, or $1,000,000 if north of the 26th parallel. First home owners buying an established home up to the value of $530,000 will still be able to apply for the concessional first home owner rate of duty.