First Home Buyers

Concessions and benefits available to First Home Buyers not owning property anywhere in Australia to acquire their first home in New South Wales is as follows

$10,000.00 New Homes First Home Grant

If you’re a first home buyer and you’re buying or building a new home, you may qualify for a $10,000 grant under the First Home Owner Grant (New Homes) scheme if you purchase date was on or after 1 January 2016.

You can make a claim for the First Home Owner Grant if you:

  • newly constructed home or a substantially renovated home has a total value less than $600,000
  • land for building and any dwelling you intend to build has a combined value less than $750,000.

 

Eligibility requirements

To receive the grant when you buy your home:

  • you must be an individual, not a company or trust
  • you must be over 18
  • you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
  • your purchase date must be on or after 1 January 2016.

Generally, you won’t be eligible for the First Home Owner Grant if you or your spouse:

  • have previously owned or co-owned a home in Australia or
  • have received an Australian first home owner grant.

For further details –

https://www.revenue.nsw.gov.au/grants-schemes/previous-schemes/first-home-owner-grant

Stamp Duty Concessions/Exemptions New or Second Hand Residential

From 1st August 2020 to 31st July 2021, there is the following first home buyer new home benefits Corona Crisis Concessions

For further details –

https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/assistance-scheme

If buying as a first home buyer in Victoria, or another state, please contact our office, to provide you the first home buyer details in your nominated state of purchase.