First Home Buyer Assistance scheme

This type of financial assistance is available for people who are looking to buy:

  • a new home
  • an existing home
  • vacant land

If your home is valued at less than $650,000, you can apply for an exemption so that you don’t have to pay transfer duty, also known as stamp duty.

If the value of your home is between $650,000 and $800,000, you can apply for a discounted rate of stamp duty. The amount you’ll have to pay will be based on the value of your home.

The First Home Buyer Assistance scheme also applies to vacant land if you're planning to build a home on it, which means you:

  • won’t pay any stamp duty, if your land is valued at less than $350,000
  • get a discounted rate of stamp duty for land valued between $350,000 and $450,000

To work out how much stamp duty you’ll pay for a home, use the NSW Revenue calculator

To receive the First Home Buyers Assistance scheme, you or one of the other first home buyers must:

  • move into the new home within 12 months after buying it
  • live there for at least 6 continuous months

There are other requirements set by Revenue NSW that you'll need to meet to be eligible to access the scheme. Consider checking these before you start your application.