What Wimmera homes could you buy with the government's 'Help To Buy' policy?

The government will help 10,000 low and middle-income homebuyers enter the housing market each year by taking an equity stake of up to 40 per cent in the house they buy.

It is only available to homebuyers with a taxable income of up to $90,000 for individuals and up to $120,000 for couples.

The government will provide up to 40 per cent to build a new home and up to 30 per cent for an existing home.

The bank has a big say as the homebuyer will need to have a deposit of two per cent and, most importantly, still qualify for a standard home loan.

The government set a $550,000 price caps for country Victoria $550,000.

Using Australian Community Media's own realestateview.com.au, let's see what's out there.

On the corner of Dooen Rd and Searle St is this five bedroom, two bathroom family home, for $550,000.

Described as a lovely character filled Period style home containing four bedrooms, large lounge, with an adjoining self contained one-bedroom unit offering extra space or income.

The half a million price tag will get you an inground pool, a shed with toilet and shower, established gardens plus rear/side access to the shed and backyard from Searle street.

Built in 1914, this two-story, five bedroom, three bathroom bank-turned family home is listed for $525,000, or could be bought in conjunction with the neighbouring block for $629,000.

Its currently owners are willing to rent the property for $500 per week for 12 months; however, this could violate the terms of the loan, so think twice.

On the ground floor occupants will find the newly renovated main kitchen and living area around the original safe and entry way to keep in with the feel of the property, while providing the features and livability you would to expect of a modern home.

Newly constructed, but keeping in feel with the main building, is the master bedroom complete with walk in robe and ensuite.

Upstairs there is a further four bedrooms, one bedroom comprising of walk in robe and toilet while the other bedrooms are serviced by a full family bathroom.

Hidden in the Grampians is an idyllic bush retreat is set on a magnificent 15.59ha (38 acre) allotment, for $529,000.

Featuring natural bushland surrounds and abundant wildlife including regular visits from a diverse number of bird species, wandering emus, kangaroos, wallabies and a local sand lizard.

Conveniently located close to the Wander Inn cafe and bar with all weather road access, this interesting property boasts a well-maintained brick veneer residence with wrap around verandah, open plan living, single bedroom, kitchen, bathroom/ laundry and a fully enclosed outdoor entertaining area and fernery.

A large permanent dam, GWMW pipeline water, numerous water tanks and underground electricity complete this outstanding bush retreat.

Housing experts have already warned of the difficulty for low income earners being able to qualify for finance.

The homebuyer needs to live in the home as their principal place of residence.

The homebuyer will not pay rent on the portion of their house owned by the government - taxpayers will recoup their investment when the property is sold.

The incoming government has also promised to continue the existing regional First Home Buyer Support Scheme, and most states have existing schemes of their own although not as generous as Help To Buy.

Country buyers will share the Help To Buy scheme with city buyers as well under the 10,000 applicants cap.

The government set the following price caps for homes across the country: NSW $600,000, Queensland $500,000, South Australia $400,000, Western Australia $400,000, Tasmania $400,000.