The ability to stack multiple schemes at once means many dentists entering the property market for the first time can access support worth tens of thousands of dollars.
The question for most first home buyers in your profession is not whether you qualify, but which combination of grants, concessions, and deposit schemes will reduce your upfront costs the most. That depends on where you are buying, whether the property is new or established, and how much deposit you have saved. Getting the structure wrong can mean leaving $20,000 or more on the table.
How the Federal First Home Guarantee Works for Dentists
The First Home Guarantee allows eligible buyers to purchase with a deposit as low as 5% without paying Lenders Mortgage Insurance. From October 2025, income caps were removed and place limits abolished, making the scheme accessible to most dentists regardless of income level. You can use the guarantee on properties up to $950,000 in most capital cities and regional centres, which covers a significant portion of the market.
Consider a general dentist purchasing an established property valued at $700,000 in Brisbane. Without the guarantee, a 5% deposit would normally trigger LMI of around $20,000 to $25,000. The guarantee removes that cost entirely, meaning the buyer only needs to fund the deposit and settlement costs. For a dentist in their first few years of practice, that difference can mean buying six to twelve months earlier than expected. The 5% Deposit Scheme for Dentists page covers how the guarantee works in more detail, including lender requirements and how to apply.
The First Home Super Saver Scheme and How It Reduces Tax
The First Home Super Saver Scheme lets you contribute up to $15,000 per financial year into your superannuation fund specifically for a first home deposit, with a lifetime cap of $50,000. Contributions are taxed at 15% rather than your marginal rate, which for most dentists sits between 32.5% and 45%. You can withdraw the contributions plus deemed earnings when you are ready to buy.
In a scenario where a dentist contributes $15,000 per year for three years, the tax saving compared to saving the same amount in a standard bank account can exceed $10,000. The scheme works particularly well for dentists who know they will buy within two to four years and have enough cashflow to make voluntary concessional contributions without impacting their living expenses. The buying your first home resource explains how this fits into a broader deposit strategy.
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Stacking State Grants with Federal Schemes
Most state grants apply to new builds only, but the upfront benefit can be significant when combined with the First Home Guarantee. Queensland currently offers the highest grant for new builds at $30,000 for properties under $750,000, running until 30 June 2026. New South Wales and Victoria each offer $10,000 for new homes within specific price caps. South Australia abolished stamp duty entirely for first home buyers purchasing new homes, which can save around $45,000 on an $850,000 property.
A dentist buying a new townhouse in Brisbane valued at $680,000 could combine the $30,000 Queensland grant with the First Home Guarantee, reducing the cash required at settlement by more than $50,000 compared to buying without support. That same buyer would also qualify for stamp duty concessions, bringing the total benefit close to $70,000. The Northern Territory offers the largest single grant at $50,000 with no property price cap, making it particularly relevant for dentists relocating to Darwin or regional NT centres.
Stamp Duty Concessions for Established Properties
If you are buying an established home rather than a new build, stamp duty concessions become the primary benefit. New South Wales offers a full exemption for properties under $800,000 for eligible first home buyers. Victoria provides no duty up to $600,000 and a reduced rate up to $750,000. Queensland offers full concessions up to $700,000 on established homes, with partial relief extending to $800,000.
A dentist purchasing an established property in Melbourne valued at $650,000 would pay no stamp duty under the Victorian first home buyer concession, saving approximately $34,000. That saving alone can cover most settlement costs and leave additional funds for furniture or initial renovations. Tasmania offers one of the clearest concessions for established homes, with no duty payable on properties up to $750,000 for eligible buyers, though this concession is currently scheduled to end on 30 June 2026.
What Happens if You Exceed the Grant or Concession Thresholds
If the property you want to buy sits just above the relevant grant or concession threshold, the decision becomes whether to adjust your search or proceed without the benefit. In some states, partial concessions taper rather than disappear entirely. Victoria, for instance, offers reduced stamp duty up to $750,000 even if you exceed the $600,000 exemption threshold.
A general dentist looking at a property valued at $780,000 in Sydney would not qualify for the stamp duty exemption, which cuts off at $800,000 for established homes. In that situation, it may be worth considering whether a property at $795,000 delivers meaningfully more value than one at $750,000, given the difference in upfront cost. Alternatively, structuring the purchase to include the First Home Guarantee can still remove LMI even if stamp duty concessions do not apply. The low deposit loans for dentists page covers how to structure purchases with smaller deposits when grants are not available.
Using a Guarantor to Avoid LMI Without the First Home Guarantee
If you do not qualify for the First Home Guarantee or the scheme has reached its annual allocation, a guarantor can provide an alternative path to avoid LMI. A parent or family member can use equity in their own property to support your loan without providing cash. The guarantor's liability is usually limited to the portion of the loan above 80% of the property value, and the guarantee can often be removed within a few years as you pay down the loan or the property increases in value.
For a dentist buying a $750,000 property with a 10% deposit, a guarantor covering the shortfall to 80% loan-to-value ratio removes the need for LMI, which would otherwise cost around $15,000 to $18,000. The guarantor loans for dentists page walks through how guarantor arrangements work, including how and when the guarantee can be discharged.
Checking Eligibility Before You Commit to a Property
Most first home buyer schemes require that you have not previously owned property in Australia, you intend to live in the property as your principal place of residence for a minimum period, and you meet specific income or property price thresholds. Some state grants also impose citizenship or residency requirements. The First Home Guarantee does not have an income cap, but it does require that at least one applicant is a first home buyer and that the property will be occupied as a principal place of residence within 12 months.
Getting pre-approval before you start looking at properties confirms not only how much you can borrow, but also which schemes you qualify for and how they stack together. This removes uncertainty during the purchasing process and ensures you are comparing properties on a like-for-like basis in terms of total upfront cost. If you are buying in a state where grants or concessions are due to expire soon, pre-approval also locks in your position before the deadline.
Whether you are buying in six months or starting to plan for the next few years, understanding which schemes apply to your situation and how they combine will shape how much deposit you need and when you can realistically buy. Call one of our team or book an appointment at a time that works for you.
Frequently Asked Questions
Can I use the First Home Guarantee and a state grant at the same time?
Yes, you can combine the First Home Guarantee with most state grants and stamp duty concessions. The federal guarantee removes LMI on deposits as low as 5%, while state grants and concessions reduce cash grants or stamp duty depending on where you buy and whether the property is new or established.
What is the largest first home buyer grant available in Australia?
The Northern Territory offers a $50,000 grant for eligible first home buyers purchasing or building a new home, with no cap on the property price. This is the highest grant currently available and runs until 30 September 2026.
How much can I save using the First Home Super Saver Scheme?
You can contribute up to $15,000 per year into super for a first home deposit, with a lifetime cap of $50,000. For a dentist on a marginal tax rate of 37% or 45%, the tax saving compared to saving in a bank account can exceed $10,000 over three years.
Do stamp duty concessions apply to established homes or just new builds?
Stamp duty concessions apply to both new and established homes in most states, though the thresholds and exemption amounts vary. New South Wales, Victoria, Queensland, and Tasmania all offer concessions for established homes purchased by eligible first home buyers.
What happens if I exceed the property price cap for a grant or concession?
If you exceed the threshold, you typically lose access to the grant or full concession, though some states offer partial concessions that taper. You can still use the First Home Guarantee to avoid LMI or consider a guarantor to reduce upfront costs even without state support.
