Government Help for First Home Buyers in NSW
As a first home buyer in NSW you may be eligible for help that can significantly reduce the cost of getting into your first home. The main schemes are:
- First Home Buyers Assistance Scheme: a full or partial exemption from transfer (stamp) duty for eligible first home buyers, administered by Revenue NSW.
- First Home Owner Grant (New Homes): a one-off grant for eligible first home buyers who buy or build a new home, also administered by Revenue NSW.
- First Home Guarantee: a federal scheme, administered by Housing Australia, that lets eligible first home buyers purchase with a smaller deposit without paying lenders mortgage insurance. It replaced the former First Home Loan Deposit Scheme.
Eligibility rules, property value limits and the amounts available change from time to time, so we check your eligibility against the current rules for your purchase. For the latest figures, see Revenue NSW and Housing Australia.
Are You Eligible? What First Home Buyers Need to Know
Each scheme has its own conditions, and they are assessed on your circumstances rather than a single rule. The factors that usually matter are:
- You are an individual buyer, at least 18 years old, and (for most schemes) an Australian citizen or permanent resident.
- You, and in most cases your spouse or partner, have not previously owned residential property in Australia.
- The property value is within the cap that applies to the particular scheme.
- You move into the home within the required time and live there for the required minimum period.
We confirm your eligibility for each scheme before you commit, so you know exactly what you qualify for.
The First Home Buyer Journey, Step by Step
Step 1: Get your finance and deposit sorted
Speak to your lender or broker about pre-approval and ask whether you qualify for the First Home Guarantee, which can reduce the deposit you need. Knowing your budget early lets you move with confidence.
Step 2: Check which grants and concessions you qualify for
Before you start making offers, find out whether you are eligible for the First Home Buyers Assistance Scheme, the First Home Owner Grant, or both. We assess your eligibility against the current rules.
Step 3: Have the contract reviewed before you sign
Send the contract to us before you commit. We review the contract for sale and the attached documents, including the section 10.7 planning certificate and the title search, and explain the cooling-off period and your obligations.
Step 4: Apply for your grants and concessions
We help you claim the stamp duty exemption or concession at settlement and, where you are buying or building a new home, lodge your First Home Owner Grant application correctly.
Step 5: Settle and move in
Settlement is completed electronically through PEXA, after which the home is registered in your name. Remember to meet the residence requirement that applies to the help you received.
A First Home Buyer’s Checklist
Before you sign anything, it helps to have these in hand:
- Confirm which grants and concessions you are eligible for.
- Get finance pre-approval and check your First Home Guarantee eligibility.
- Budget for the costs beyond the price, such as searches, a building and pest inspection, and any duty payable if the property is over the exemption cap.
- Have the contract reviewed by a solicitor before you sign.
- Plan to move in within the required time and meet the minimum residence period.
Buying Your First Home in Maitland and the Hunter Valley
The Hunter is one of the more achievable places in NSW to buy a first home, with new estates across Thornton, Chisholm and the greater Maitland and Newcastle area. As a long-established local firm, we know the area and the issues that come up for first home buyers here. For the full buying process, see our buying property page, and if you are considering a new build, our off the plan purchase page.
Frequently Asked Questions for First Home Buyers in NSW
What help can first home buyers get in NSW?
Eligible first home buyers may receive a transfer (stamp) duty exemption or concession under the First Home Buyers Assistance Scheme, a grant for a new home under the First Home Owner Grant, both administered by Revenue NSW, and help to buy with a smaller deposit under the federal First Home Guarantee. Eligibility and limits change, so we check the current rules for your purchase.
Do first home buyers pay stamp duty in NSW?
Eligible first home buyers may pay no transfer duty, or a reduced amount, under the First Home Buyers Assistance Scheme, depending on the value of the property and the current thresholds. We confirm whether you qualify and claim the exemption or concession at settlement.
What is the First Home Owner Grant?
It is a one-off grant for eligible first home buyers who buy or build a new home, administered by Revenue NSW. It does not apply to established homes. We check your eligibility and help lodge the application.
What is the First Home Guarantee?
It is a federal scheme, administered by Housing Australia, that allows eligible first home buyers to purchase with a smaller deposit without paying lenders mortgage insurance. It replaced the former First Home Loan Deposit Scheme. Your lender or broker arranges it, and we handle the conveyancing.
Can I buy off the plan or build as a first home buyer?
Yes. New and off the plan homes can qualify for the First Home Owner Grant and the stamp duty concessions, and off the plan buying has its own risks we help you manage. See our off the plan purchase page for more.
Do I need a solicitor as a first home buyer?
Yes. Beyond the grants, the most important protection is having the contract reviewed before you sign, so you understand what you are buying and your cooling-off rights. We handle the whole conveyancing process and make sure you claim the help you are entitled to.
How do I apply for first home buyer grants and concessions?
The stamp duty exemption or concession under the First Home Buyers Assistance Scheme is generally claimed through your solicitor at settlement, and the First Home Owner Grant is applied for separately. We prepare and lodge these for you as part of the conveyancing.
Ready to Buy Your First Home? Let’s Get Started
Buying your first home is a big step, and the right advice early makes it far less stressful. We explain the help you qualify for, review your contract before you sign, and guide you through to settlement.
Book a consultation with our conveyancing team today, or call us on (02) 4933 5111. Check our FAQ page if you have any questions.
