Financial support for first home buyers
If you’re buying a home, or vacant land to build a home for the first time, you may be eligible for NSW and Federal Government financial assistance.
First Home Buyer Assistance scheme
Pay less or no transfer duty on your first home, depending on the value of your purchase.
First Home Owner (New Homes) Grant
If you're buying your first home, and it's:
- newly built
- off the plan
- substantially renovated, or
- vacant land to be built on
you may be eligible for a $10,000 grant to help, depending on the value of the purchase.
Learn more about the First Home Owner (New Homes) Grant at Revenue NSW.
First home super saver scheme
This scheme lets you use your superannuation fund to save for your home, which may have tax benefits.
You can apply to use up to $15,000 (of your voluntary contributions only) from any individual financial year, capped at $50,000 in total across all years. Other conditions apply.
Learn more about the First home super saver scheme at the Australian Taxation Office.
The Home Guarantee Scheme
Eligible buyers can purchase or build a new home with a deposit of as little as 5%, or as little as 2% for eligible single parents, without the need for lenders' mortgage insurance.
Learn more about the Home Guarantee Scheme at the National Housing Finance and Investment Corporation.
First Home Buyer Choice
The NSW Government intends to introduce legislation to parliament in the second half of 2022 that would allow eligible first home buyers to pay a yearly property tax, instead of stamp duty. For more information, see the First Home Buyer Choice page.
If you need to rent while saving for a home deposit
This guide has information about finding somewhere to rent, your rights and responsibilities as a tenant, getting help with costs, and what's involved when moving out of the property (hopefully into your new home).Learn more about renting in NSW