State Grants and Stamp Duty Concessions Available Right Now

First-time buyers in Aurora qualify for state grants of up to $12,000 and full stamp duty exemptions on properties priced under $500,000 as of July 1.

The measures address a market where median detached home prices reached $472,000 last quarter, up from $436,000 in the same period a year earlier. Rising values have pushed many younger households toward longer rental periods, with the Aurora housing office reporting a 22 percent increase in first-time buyer inquiries since March.

Local programs in place

The Aurora First Home Grant operates through the city housing office on Lincoln Avenue, where staff process applications for buyers targeting neighborhoods such as Oakwood Heights. Sessions run weekly at the community center on Elm Street, with the next scheduled for July 15. The stamp duty concession pairs with the same office and covers transfers registered by December 31, 2026, provided the buyer has not owned property in the prior three years.

Another route sits at the Riverfront District office on Water Street, where the state-linked Aurora HomeStart program offers the $12,000 grant for homes purchased with a maximum loan-to-value ratio of 95 percent. Staff there also coordinate with local lenders on Maple Avenue for pre-approval checks before buyers submit formal paperwork.

Numbers and next steps

City records show 1,245 first-time transactions used comparable relief last fiscal year, delivering average savings of $18,500 on a $420,000 purchase. Buyers must submit income statements, a signed contract and proof of Aurora residency for at least six months prior to closing.

Applications move through the housing office portal or in person at either location. Staff advise bringing recent bank statements and a pre-approval letter from a participating lender on River Road before visiting. Processing takes 10 to 15 business days once all documents arrive.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.