First Home Owner Grant (FHOG) NSW
The First Home Owners Grant New South Wales is a one-off payment to help first home owners manage the costs of buying a home. The FHOG is worth $10,000 but it is only available if you buy or build a new home.
Frequently asked questions about FHOG NSW
How much is the First Home Owners Grant NSW?
The FHOG in NSW is worth $10,000 however conditions apply. To be eligible, your first home must have a total value below $600,000, and be either newly constructed or ‘substantially renovated’. A home is substantially renovated when most or all of the original house was removed or replaced, and it’s the first time the place has been sold, and lived in, after the renovations were completed.
If you plan to build a new home from scratch, you can still be eligible for the FHOG in NSW as long as your land plus the home you build have a combined value of less than $750,000.
First Home Owners Grant NSW eligibility
To be eligible for the FHOG in NSW, you’ll need to meet several conditions:
- You must be an individual, not a company or trust
- You must be aged over 18
- You, or at least one person you’re buying with, must be an Australian citizen or permanent resident
- You and your spouse must not previously have owned a home in Australia or received an Australian first home owner grant.
- You’ll need to live in your first home for at least six months within 12 months of buying or completion of construction
You may still be eligible for the FHOG in NSW if you’ve previously owned a residential property but you haven’t lived in it for more than six months.
How to apply for First Home Owner Grant NSW
Applying for the First Home Owner Grant is easy, and your Mortgage Choice broker can guide you through the paperwork. Simply fill out the form below and a local expert will be in contact with you shortly.
Are first home buyers in NSW exempt from stamp duty?
Great news for first home buyers in NSW. Under the First Home Buyer Assistance scheme, savings on stamp duty are available to first home owners no matter whether you buy a new or established home.
How much you save on stamp duty depends on the price you pay for your home.
First home owners in NSW pay no stamp duty at all when you buy a property valued below $650,000. That’s a saving of $24,740. You can still be entitled to savings on stamp duty even if you pay between $650,000 and $800,000 for your first home. The cost of duty rises on a sliding scale. For example, if you pay $700,000, you’ll pay stamp duty of $10,490 – a saving of $16,500. If your first home costs $795,000, the stamp duty cost will be $30,440, providing a saving of $825.
Stamp duty savings for first home owners
|Purchase Price||First Home - New Home Duty|
$650,000 - $700,000
$0 - $10,490
$710,000 - $750,000
$12,590 - $20,990
$760,000 - $790,000
$23,090 - $29,390
Does the First Home Buyers Grant count towards a Deposit?
Yes, you can use your First Home Buyers Grant for your deposit but it will not cover the full amount needed. You can speak to your local mortgage choice broker to find out more but usually, you will still need between 5% and 10%.
If you are wanting to avoid paying a deposit altogether then you should consider finding a guarantor. They can help provide security for your loan.