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Renting or buying a house

Updated 22 July 2026

Fees, phone numbers and eligibility change. Always confirm details on the official website before you rely on them.

Overview

In Victoria, newly-arrived migrants can either rent or buy a home. When renting, you sign a rental agreement, usually pay rent in advance plus a bond (security deposit) that is held by the government's Residential Tenancies Bond Authority (RTBA), and receive a condition report before you move in. When buying, you save a deposit, use a conveyancer or solicitor, and pay land transfer (stamp) duty; first home buyers may get a duty exemption or concession and, for a new home, a First Home Owner Grant. The Victorian Homebuyer Fund shared-equity scheme is now closed to new participants.

Step by step

  1. Step 1: RENTING: Search for rentals (agents or sites such as realestate.com.au or domain.com.au) and submit a rental application to the agent or rental provider (landlord).

  2. Step 2: RENTING: Before moving in, pay any rent in advance and the bond. By law a rental provider cannot ask for more than one month's rent in advance (or 14 days' rent if rent is paid weekly).

  3. Step 3: RENTING: Pay the bond and check it is lodged with the RTBA. The rental provider must lodge your bond with the RTBA within 14 days of receiving it, and every renter must review and accept the lodgement by email.

  4. Step 4: RENTING: Get the condition report the rental provider gives you before you move in, check it carefully, add anything wrong, sign it and return it within 5 business days; keep your own copy.

  5. Step 5: BUYING: Work out what you can afford, save a deposit, and get home loan pre-approval (you will need proof of identity, payslips or a tax return and savings statements).

  6. Step 6: BUYING: Engage a licensed conveyancer or solicitor to check the section 32 vendor's statement and contract of sale before you sign or bid.

  7. Step 7: BUYING: Check what first home buyer help you qualify for (land transfer duty exemption/concession, First Home Owner Grant) using the State Revenue Office website and duty calculator.

  8. Step 8: BUYING: At settlement, pay the balance, land transfer (stamp) duty and land transfer fees; if your deposit is under 20% you will usually also pay lenders mortgage insurance.

Eligibility & requirements

  • First home buyer duty exemption or concession: all purchasers must be natural persons (not companies or trusts), at least 18 years old, and Australian citizens or permanent residents.
  • First home buyer duty exemption or concession: you must buy at market value and use the home as your principal place of residence; you are NOT eligible if you, your spouse or your partner have already owned a home or other residential property in Australia.
  • First home buyer duty exemption or concession: at least one purchaser must live in the home for 12 continuous months within 12 months of settlement.
  • First Home Owner Grant ($10,000): applies to first home buyers buying or building a NEW (newly constructed or never-occupied) home valued up to $750,000.
  • Victorian Homebuyer Fund: now CLOSED to new participants, so it is no longer a way for new buyers to get help.

Costs

ItemIndicative cost
Rental bond (security deposit)In most cases a bond can't be more than one month's rent. A higher bond is only allowed if the weekly rent is more than $900, or if VCAT sets a higher bond.
Rent in advanceA rental provider cannot ask for or accept more than a maximum of one month's rent in advance, unless rent is paid weekly, in which case they can only ask for 14 days' rent in advance.
Land transfer (stamp) duty - generalLand transfer duty is charged on a sliding scale based on the property's dutiable value. Use the State Revenue Office land transfer duty calculator for your exact amount.
First home buyer duty exemption / concession thresholdFor an eligible first home buyer: dutiable value up to $600,000 you pay no duty; dutiable value $600,001 to $750,000 you pay a reduced amount of duty.
First Home Owner GrantA $10,000 payment for eligible first home buyers who buy or build a new home valued up to $750,000.
Lenders mortgage insurance (buying)See the official page linked below for the current amount.

Key links

Contacts

Consumer Affairs Victoria (renting, bonds, condition reports): 1300 55 81 81, 9 am to 5 pm Monday to Friday (except public holidays). You can also call 132 842 (132 VIC) and select the 'Consumer Affairs Victoria' option. (Read on https://www.consumer.vic.gov.au/contact-us)
Consumer Affairs Victoria (renting, bonds, condition reports): 1300 55 81 81, 9 am to 5 pm Monday to Friday (except public holidays). You can also call 132 842 (132 VIC) and select the 'Consumer Affairs Victoria' option. (Read on https://www.consumer.vic.gov.au/contact-us)
For land transfer (stamp) duty, first home buyer concessions and the First Home Owner Grant, contact the State Revenue Office via https://www.sro.vic.gov.au (phone number NOT_CONFIRMED - not read on the pages fetched).
For land transfer (stamp) duty, first home buyer concessions and the First Home Owner Grant, contact the State Revenue Office via https://www.sro.vic.gov.au (phone number NOT_CONFIRMED - not read on the pages fetched).
Victorian Homebuyer Fund - support for EXISTING participants who cannot log in to the portal: (03) 7020 1549. (Read on https://www.vic.gov.au/homebuyer - this is NOT for new applications, as the scheme is closed to new participants.)
Victorian Homebuyer Fund - support for EXISTING participants who cannot log in to the portal: (03) 7020 1549. (Read on https://www.vic.gov.au/homebuyer - this is NOT for new applications, as the scheme is closed to new participants.)