Get A Quote Now!

First Home Owner Grant Scheme

The New South Wales Government is committed to helping as many young people as possible to buy their first home. They are about getting more young families into their first home and helping them to get on with establishing their lives.

First home benefits are available under the First Home Owner Grant and the First Home–New Home Schemes.

From 1 October 2012, the $7 000 First Home Owner Grant will be replaced by the $15 000 First Home Owner Grant (New Homes) Scheme.

First home owners who purchase or build a new home where the eligible transaction commencement date (contract date) is on or after 1 October 2012 will be eligible for the $15 000 grant. The grant will reduce to $10,000 on 1 January 2014 for eligible transactions which have a commencement date (contract date) on or after 1 January 2014.

The $7 000 first home owner grant for established properties ends on 30 September 2012 and will not be available where the eligible transaction commencement date (contract date) is on or after 1 October 2012.

The current cap of $835 000 applies where the eligible transaction commencement date falls on or after 1 January 2011 and on or before 30 September 2012.

On 1 October 2012, the cap reduces to $650 000. The $650 000 cap will apply to all new home transactions where the commencement date of the eligible transaction is on or after 1 October 2012. Applicants who purchase a new home or build a home which has a total value of more than $650 000 will not be eligible for the First Home Owner Grant (New Homes) Scheme.

The First Home—New Home scheme provides exemptions or concessions on transfer duty for people who are buying their first home in NSW. This includes buying vacant land on which they intend to build their first home.

The First Home—New Home scheme provides eligible purchasers with exemptions on transfer duty on new homes valued up to ($550,000 from 1 July 2012) and concessions on transfer duty for new homes valued between ($550,000 and $650,000).

Eligible purchasers buying a vacant block of residential land to build their home on will pay no duty on vacant land valued up to $350,000 will receive a concession on duty for vacant land valued between $350,000 and $450,000.

More about the First Home Owners Grant (Links)
First Home Owner Grant Scheme (FHOGS)

NSW New Home Buyers Supplement

Commonwealth’s First Home Owner Boost (FHOGS)

First Home Plus Scheme (Including First Home Plus One)

First Home — New Home

First Home — New Home factsheet

Residency requirements

Frequent questions