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First Home Owners Grant /NSW

First-Home Owners

Grant NSW



Updated January, 2014

The NSW Government's First Home Owners Grant helps first home buyers purchase a new home or build their home to the value of $650,000 by offering a $15,000 grant. The scheme applies to new homes only and will reduce to $10,000 on 1 January 2016.

Elegibility

To be eligible to receive the grant:

  • the contract date must be on or after 1 October 2012
  • the home is a brand new home
  • you are over 18
  • you or your spouse (including de facto spouse) have never held a relevant interest in any residential property in Australia prior to 1 July 2000.
  • However, you may be eligible if you or your spouse, including de facto spouse, have only had a relevant interest in any residential property in Australia on or after 1 July 2000 and you have not resided in that property for a continuous period of at least 6 months.
  • the value of the property must not exceed the First Home Owner Grant Cap of $650,000
  • you have not received a first home owners grant in any State or Territory, unless subsequenly repaid
  • you need to live in the home for a continuous period of at least 6 months
  • at least one applicant is a permanent resident or Australian citizen
  • each applicant must be a natural person and not a company or trust.

Which homes qualify?
To qualify, the home must be used as a place of residence. Elegible residences are houses, flats, units, townhosues or apartments and moveable homes relocated onto land owned by the applicant.

OTHER CONCESSIONS

Stamp Duty Excemptions and Concessions
The First Home - New Home scheme provides eligible purchasers with exemptions from transfer duty on new homes valued up to $550,000 and concessions for new homes valued between $550,000 and $650,000.

Eligible purchaser buying a vacant block of residential land to build their home will pay no duty on vacant land valued up to $350,000, and will receive concessions for vacant land valued between $350,000 and $450,000.

To be eligible for the duty concession or exemption:

  • at least one buyer must be an Australian citizen or permanent resident
  • the agreement must be for the purchase of the whole property
  • you must be a natural person (not a company or trust)
  • you must be over 18
  • you or your partner have not previously owned property in any form in any State or Territory
  • at least one purchaser must occupy the home within 12 months and needs to live in the home for a continuous period of at least 6 months.

If your partner has previously owned a home or received a benefit from us under the First Home -New Home Scheme, you will not be entitled to receive a concession or exemption.

For enquiries about the NSW Government's First Home Owner Grant Scheme phone
1300 130 624.