By Chaice Paterson, CEO & Founder, Low Deposit Homes | Updated June 2026
Many Zimbabweans in Australia still own — or once owned — a house or stand back home, and assume it disqualifies them from “first home buyer” schemes here. The truth is more nuanced and mostly good news: it depends on the scheme, and on whether you owned versus lived in the property. The federal 5% Deposit Scheme only looks at whether you’ve owned property in Australia — your Zimbabwean property generally doesn’t count. The Victorian First Home Owner Grant is stricter and does look at worldwide ownership. And Help to Buy turns on whether you currently own property. Getting this right is exactly the kind of question we untangle for clients every week. Here’s the accurate breakdown — and please confirm your specific situation with us. This is general information, not financial or legal advice.
The key distinction: owned vs occupied, Australia vs worldwide
Two distinctions decide almost everything:
- Did you just own it, or did you live in it? Several schemes only count property you owned and occupied as a residence — an investment property or inherited stand you never lived in may not affect you.
- Does the scheme test Australian property only, or worldwide property? This varies scheme by scheme.
The 5% Deposit Scheme: Zimbabwean property generally doesn’t count
The federal 5% Deposit Scheme (the First Home Guarantee) assesses whether you’ve owned residential property in Australia — broadly, you qualify if you haven’t owned property in Australia in the past 10 years. Property you own or owned in Zimbabwe generally does not disqualify you from this scheme. For most Zimbabweans, this is the headline: a house back in Harare or Bulawayo doesn’t lock you out of the country’s flagship low-deposit scheme.
The First Home Owner Grant: Victoria is strict, Queensland focuses on Australia
The grants use different definitions:
- Victoria: the VIC First Home Owner Grant looks at worldwide ownership. You’re generally ineligible if you (or your partner) have owned and occupied residential property anywhere in the world after 1 July 2000. So if you owned and lived in a home in Zimbabwe after that date, the Victorian grant is likely off the table — though the 5% Scheme and other levers may still apply. (An overseas property you owned purely as an investment, or land you never built on and lived in, may not disqualify you — the owned-vs-occupied distinction.)
- Queensland: the QLD First Home Owner Grant focuses on whether you’ve previously owned and lived in residential property in Australia. Owning property in Zimbabwe is treated differently from owning in Australia — but the rules are specific, so confirm your exact position.
The takeaway: a Zimbabwean property is far more likely to affect a Victorian grant claim than a Queensland one. We check this precisely before you rely on any grant.
Help to Buy: it’s about what you own NOW
Help to Buy (citizens only) requires that you do not currently own property. Prior ownership is fine if you’ve sold — it’s not strictly first-home-buyer-only. The implication: if you currently own a home back in Zimbabwe, that may need to be addressed before a Help to Buy application, whereas a property you’ve already sold doesn’t hold you back. If Help to Buy is your intended path, confirm your situation early.
How does your Zimbabwean property affect what you can borrow?
Separate from scheme eligibility, an existing property back home shows up in your serviceability assessment:
- If it earns rent, some lenders count a portion of that rental income — but with a conservative discount, and currency and evidence requirements matter. Treat overseas rental income as a possible help, not a guaranteed one.
- If it has a mortgage or bond against it, those repayments are a liability that reduces your borrowing capacity. Declare it.
- Either way, declare it. Undisclosed overseas assets or debts discovered during the process raise questions; disclosed, they’re simply part of your picture.
As always: the 5% Scheme reduces your deposit, not your loan. Your income, net of commitments including any overseas mortgage, sets your borrowing capacity, and no responsible application stretches the loan past roughly 6.5 times a single income, or 6 times where you support dependants.
A worked illustration
Takudzwa and Ruvarashe moved to Brisbane on PR and still own a townhouse in Harare they rent out. They worry they’ve “already used” their first home buyer status. In fact: the 5% Deposit Scheme doesn’t count their Zimbabwean property (it only tests Australian ownership), so they can buy a new build in a Brisbane growth corridor with a 5% deposit and no LMI. The Queensland grant question turns on Australian ownership, not their Harare townhouse. Their rental income back home might be partially counted, while any bond on it is a declared liability. They buy an $880,000 package, with the 5% Scheme and stamp duty exemption removing most of the upfront cash. (Illustrative; your numbers and the rules will need confirming for your case.)
What if I’m thinking of selling my Zimbabwean property?
That brings in Zimbabwe’s exchange-control rules (administered by the Reserve Bank of Zimbabwe) and possibly tax on both sides — specialist territory. If selling is part of your plan, get qualified cross-border advice on the timing, tax and transfer mechanics. We’ll point you to the right specialists rather than guess rules that change.
Popular corridors — and the value they offer
Low Deposit Homes builds across Queensland and Victoria, so these are examples of where the value is strong, not the only places you can buy — we match you to the corridor that suits your work, family and budget.
Brisbane and surrounds — for example, the western Ipswich corridor (Collingwood Park, Redbank, Redbank Plains, Ripley) and the Logan growth corridor, with new 4/2/2 packages typically $830,000–$1 million. Other Brisbane growth areas offer comparable pathways.
More affordable Victorian corridors — for example, Melbourne’s western, northern and south-eastern growth corridors (and Geelong), with packages frequently $650,000–$850,000; under $750,000 unlocks the full Victorian stack. Similar value exists across Victoria’s other growth corridors.
How does Low Deposit Homes help?
We confirm, scheme by scheme, exactly how your Zimbabwean property affects your eligibility and your borrowing — before you rely on anything. Our finance partners (licensed brokers) review your borrowing capacity, get you a full bank approval, and match you to the lender whose policy best fits your situation, and we find you a right-sized new-build package your income services. Where selling or transferring Zimbabwean property or funds is involved, we connect you with cross-border specialists.
We build across Queensland and Victoria — from the Ipswich and Logan growth corridors in Brisbane to Melbourne’s western, northern and south-eastern growth corridors and beyond — and match you to the area that fits your life, not the other way around.
Worth knowing early: settlement is not handover — the land title transfers at settlement; the keys come at handover, often months later.
Frequently asked questions
I own a house in Zimbabwe — can I still use the 5% Deposit Scheme?
Generally yes. The 5% Scheme assesses Australian property ownership only, so your Zimbabwean property typically doesn’t disqualify you.
Does my Zimbabwean property affect the First Home Owner Grant?
In Victoria, yes — the VIC grant counts worldwide owned-and-occupied property after 1 July 2000. In Queensland, the test focuses on Australian ownership. Confirm your exact position.
Can I use Help to Buy if I still own property in Zimbabwe?
Help to Buy requires you don’t currently own property; prior ownership is fine if sold. Current overseas ownership may need addressing first.
Will my overseas rental income help my application?
Possibly — some lenders count a discounted portion, with currency and evidence requirements. Any bond on the property is a liability you must declare.
Should I sell my Zimbabwean property?
That’s a cross-border tax and exchange-control decision needing specialist advice. We’ll connect you with the right people.
Do I have to buy in a particular suburb?
No. The corridors mentioned are examples of where we build and where the value is strong — we build across Queensland and Victoria and match you to the area that suits your work, family and budget.
Your next step
Book a free 15-minute consultation and we’ll work out exactly how your Zimbabwean property affects your options here.
Book your free call → Book your free call | 1800 920 172
Related reading: Zimbabwean First Home Buyer Guide (pillar) · First Home Buyer Schemes by Visa for Zimbabweans · Bringing Money From Zimbabwe for Your Deposit · Help to Buy for Zimbabweans.
Related guides: Queensland first home buyer guide · Victoria first home buyer guide · Grant Eligibility Calculator · Borrowing Power Calculator
Low Deposit Homes operates under Winning Homes Australia Pty Ltd (ACN 633 321 758). All calculations indicative. Not financial advice.