First Home Buyer Choice

Family of 4 outside their new home in the morning sun

First Home Buyer Choice (FHBC) is now closed.

From 1 July 2023, First Home Buyer Choice (FHBC) will no longer be available. Eligible first home buyers who exchange contracts on or before 30 June 2023 will have until settlement to opt in to FHBC. Retrospective refund applications are open until 30 June 2023. Those who have already opted in to FHBC won't be affected at all. ​

From 1 July 2023, the transfer duty exemption threshold for new and existing home purchases by eligible first home buyers will increase.  Get more information on support for first home buyers.

If you're 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.

Use the First Home Buyer Choice calculator to help you compare the estimated property tax and stamp duty.

The difference between stamp duty and annual property tax 

Stamp duty

Stamp duty is an upfront payment, paid at the time of buying your home. It is calculated as a percentage of the property’s purchase price or current market value (whichever is higher). Stamp duty rates vary depending on the value of the property.  

Annual Property Tax

Annual property tax payments are based on the land value of the purchased property. The property tax rates for 2022-2023 and 2023-2024 will be: 

  • $400 plus 0.3% of land value for properties whose owners live in them 
  • $1500 plus 1.1% of land value for investment properties. 


Ariel view of Regional NSW in Coffs Harbour. Landscape of trees, street with houses and the ocean.

Who's eligible?

A couple standing in their backyard

​​​​​​To be an eligible first home buyer in NSW:

  • you must be an individual (not a company or trust)
  • you must be over 18 years old
  • you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
  • you or your spouse must not have previously owned or co-owned residential property in Australia, nor received a First Home Buyer Grant or duty concessions
  • the property you are buying must be worth less than or equal to $1.5 million
  • you must move into the property within 12 months of purchase and live in it continuously for at least 6 months
  • you must sign the contract of purchase on or after 11 November 2022.


Birdseye view of a street of homes with pools in regional NSW with lots of trees and wide tarmac roads

Common questions  

Learn more about First Home Buyer Choice.

Find out more

Fact sheet

Download the First Home Buyer Choice fact sheet.

Contact us

Visit Revenue NSW to find out more or contact our dedicated support line on 1300 135 195.

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