First Home Owner Benefits

The New South Wales Government is committed to helping as many people as possible to buy their first home.

First home benefits of up to $24,990 are available being the $7,000 First Home Owner Grant and a duty exemption of up to $17,990 under the First Home Plus Scheme.

 

First Home Owner Grant

The First Home Owner Grant Scheme (FHOGS) is fully funded by the NSW Government and administered by the Office of State Revenue (OSR).

The Scheme was established to assist first home buyers to purchase their first home by offering a $7000 grant.

Eligible first home owners can receive the grant regardless of their income or the area in which they are planning to buy or build. However, there is a cap placed on the value of the home.

On 1 January 2011, the cap was increased to $835,000. The $835,000 cap applies to all applications where the commencement date of the eligible transaction is on or after 1 January 2011.

Applicants who purchase or build a home which has a total value of more than $835,000 will not be eligible for the grant.

 

First Home Plus Scheme

The First Home Plus scheme provides exemptions or concessions on stamp duty for people who are buying their first home in NSW. This includes buying vacant land on which you intend to build your first home.

The First Home Plus Scheme provides eligible purchasers with exemptions on stamp duty on newly constructed homes valued up to $500,000 and stamp duty concessions for homes valued between $500,000 and $600,000.

Eligible purchasers buying a vacant block of residential land to build their home on will pay no duty on vacant land valued up to $300,000, and will receive concessions on duty for vacant land valued between $300,000 and $450,000.

With mortgages, an advance made to natural persons for the purpose of buying or building their home, or buying vacant residential land, is not liable to duty.

 

For more information, eligibility criteria and for the latest fact sheets and calculators visit the Office of State Revenue website