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First Home Owners & Buyers Grant NSW

First home owners who buy a new home up to the value of $600,000 or build a new home with a completed value of $750,000 or less may be eligible for a $10,000 First Home Owner Grant from the NSW State Revenue office.

NSW First Home Buyer Guide

This quick video takes you through the changes made to first home buyer grants and concessions in NSW in January 2018.

Updated 16 May 2018

First Home Owner Grant NSW

First home buyers in NSW can tap into a range of financial support:

  • The first home buyers grant NSW is worth (up to) $10,000 on new homes
  • First home buyers stamp duty NSW is waived if your first home costs less than $650,000
  • First home buyers stamp duty savings are available on homes from $650,001-$750,000
  • First home buyer stamp duty savings are available on vacant land up to $350,000 (zero stamp duty), with savings on stamp duty NSW for vacant land from $350,001-$400,000.
  • Insurance duty payable on Lenders Mortgage Insurance NSW has been abolished

Check out the full details of the First Home Owner Grant and stamp duty savings in NSW below. Or head to our stamp duty calculator.

First Home Owner Grant

The First Home Owner Grant (New Homes) Scheme is a NSW Government initiative to help you purchase your first home.

On 1 July 2017, the NSW State Government implemented a raft of initiatives to support first home buyers.

The initiatives include a grant of $10,000 for first home buyers purchasing a new property up to the value of $600,000 or building a new property up to the value of $750,000, where eligibility criteria is met. Further, insurance duty which was previously payable on Lender Mortgage Insurance has been abolished.

You may also be eligible for the First Home Buyers Assistance Scheme. If you are eligible, this scheme provides exemptions or concessions on transfer duty (Stamp Duty).

The NSW First Home Buyers Assistance Scheme is effective as of 1 July 2017 and includes the following:

  • An exemption from transfer stamp duty is available for eligible first home buyers purchasing a new or existing home valued up to $650,000 and concessions on duty for a new and existing homes valued between $650,001 and $800,000.

  • 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, and will receive concessions on duty for vacant land valued between $350,000 and $450,000.

Need more info?

Visit the NSW Office of State Revenue website or the NSW Government website for more information. Contact your local Mortgage Choice broker for assistance. 


Are you eligible for a First Home Owner Grant?

Applying for the First Home Owner Grant


Talk to your broker
In most cases, your chosen lender will act as an agent for the Revenue Office. Your lender, together with your broker, will make sure you receive the grant if you are entitled to it.


Allow time for processing
Your Mortgage Choice broker will ensure that the First Home Owner Grant funds are available at settlement or at the first progress payment if you are building your home.


If you go direct...
If you apply directly to the Revenue Office, funds will not be available until after settlement or completion of the home if you are building.

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