If you are a first home buyer, you may be eligible to receive exemptions, concessions and grants to make it easier to buy your first home.
The NSW Government schemes are managed by Revenue NSW and Australian Government schemes are also available to eligible first home buyers.
First Home Buyer Assistance Scheme
You may be eligible to apply for an exemption or reduction of transfer duty charges if you are a first home buyer.
This assistance scheme applies to first home buyers:
- buying an existing home
- buying a new home
- buying vacant land on which you intend to build a home.
First Home Owner's Grant (New Homes)
If you are buying or building your first home, you may be eligible for a $10,000 grant under the First Home Owner Grant (New Homes) scheme.
Your first new home can be a house, townhouse, apartment, unit or similar that is newly built, purchased off the plan or substantially renovated.
You can apply for the scheme when you arrange finance to buy your home.
Shared Equity Home Buyer Helper
This initiative helps eligible home buyers purchase their own home with as little as a 2% deposit.
The NSW Government will contribute a proportion of the purchase price of a property in exchange for an equivalent interest in the property.
Shared Equity Home Buyer Helper is open to:
- single parents of a dependent child or children
- single people 50 years of age or above, or
- first home buyer key workers who are nurses, midwives, paramedics, teachers, early childhood educators or police officers.
First Home Buyer Choice
First Home Buyer Choice provides first home buyers with the option between paying a smaller annual property tax, instead of stamp duty.
If you are an eligible first home buyer looking for a property up to $1.5 million, First Home Buyer Choice can lower the upfront costs of your purchase and cut up to 2 years off the time needed to save for a deposit, fast tracking your way to a new home.
Existing stamp duty exemptions and concessions for first home buyers will continue to apply for eligible purchases of up to $800,000.