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Can You Buy a Home in Australia on a 491 Visa?

Yes — 491 visa holders can buy property in Australia, but the rules are different. Darwin mortgage broker Bibiyan Thapa explains FIRB approval, foreign buyer surcharges, why the NT is cost-effective, and how to get a home loan on a temporary visa.

Bibiyan Thapa

6/10/20263 min read

Yes — you can buy property in Australia on a 491 visa. But the rules are meaningfully different from those for Australian citizens and permanent residents, and the costs can vary dramatically depending on which state you buy in.

As a Darwin-based mortgage broker who regularly works with skilled migrants and temporary visa holders, I have seen first-hand how the right location and the right lender can make a $40,000+ difference to the total cost of your purchase.

Here is what you need to know before you sign anything.

What Is a 491 Visa?

The Subclass 491 is a temporary skilled regional visa. It allows skilled workers and their families to live and work in regional Australia, with a clear pathway to permanent residency.

While you hold a 491 visa, you are generally treated as a foreign buyer when purchasing property in Australia. That brings extra rules, additional costs and fewer lender options — but it does not make it impossible.

What Can a 491 Visa Holder Buy?

From April 2025, temporary visa holders are generally banned from purchasing established (second-hand) homes. This restriction is expected to remain until at least 30 June 2029.

  • A 491 visa holder may still purchase:

  • A brand new home

  • An off-the-plan apartment

  • A house and land package

  • Vacant land to build on (subject to build conditions)

FIRB Approval

Most temporary visa holders need approval from the Foreign Investment Review Board (FIRB) before purchasing property in Australia. Buying without FIRB approval can result in serious penalties.

A government application fee also applies:

Less than $75,000 — $4,500

$1 million or less — $15,100

$2 million or less — $30,300

$3 million or less — $60,600

For most Darwin buyers, the applicable FIRB fee is $15,100. Always confirm current rates on the ATO website before proceeding.

Foreign Buyer Stamp Duty Surcharges

Many states charge foreign buyers an additional stamp duty surcharge on top of normal stamp duty:

NSW — 8%

VIC — 8%

QLD — 8%

WA — 7%

SA — 7%

TAS — 8%

NT — 0%

ACT — 0% currently

On a $600,000 property, avoiding an 8% foreign buyer surcharge saves $48,000. That is a very real financial difference.

Why the NT Is Cost-Effective for 491 Visa Holders

No foreign buyer stamp duty surcharge

No land tax in the NT

Generally lower property prices than Sydney, Melbourne or Canberra

Darwin qualifies as a regional location for many skilled visa pathways

Can a 491 Visa Holder Get a Home Loan?

Yes — but it can be more difficult than for citizens or permanent residents. Many lenders view temporary visa holders as higher risk.

You may typically need:

  • At least a 20% deposit (sometimes more)

  • Stable, provable income in Australia

  • A strong credit history

  • A valid visa with sufficient time remaining

  • FIRB approval in place before signing

    Some mainstream banks will decline applications from temporary visa holders outright. Specialist lenders may have significantly more flexible policies. This is exactly where a mortgage broker adds real value — not every lender treats 491 visa holders the same way.

Can a 491 Visa Holder Get a Home Loan?

Unfortunately, most first home buyer grants and schemes require you to be an Australian citizen or permanent resident. On a 491 visa, you generally cannot access:
The 5% Deposit Scheme

  • The NT $50,000 HomeGrown Territory Grant

  • State First Home Owner Grants

  • The Help to Buy Scheme

    Once you become a permanent resident, many more doors open — better loan options, no FIRB requirement, no foreign surcharge and access to grants. If permanent residency is close, it may be worth comparing the full cost of buying now versus waiting.

Let's Build Your Plan Before You Buy

Buying on a 491 visa is absolutely possible — but you need a clear plan and the right advice before you commit to anything.

For many temporary visa holders, the NT is the most cost-effective option in Australia. No foreign surcharge, no land tax and lower property prices add up to a genuine financial advantage over other states.

Before you sign anything, speak with a mortgage broker, a conveyancer and a registered migration agent to make sure you understand the full picture.

At Aussie Wealth Home Loans, I work with 491 visa holders to find the right lenders, calculate the true cost of buying and make the process as straightforward as possible.

Book your free consultation at aussiewealthloans.com.au/appointment or call +61 450 979 095.