First Home Buyers Grant NSW

April 26, 2022

With property prices on the rise, alongside potential interest rate hikes, there is no doubt that first time home buyers in New South Wales (NSW) face an uphill battle. Luckily, however, the NSW Government has introduced multiple grants that help first-time buyers secure a home and enter the property market.

These grants include the:

If you're in NSW and looking to buy your first property, this guide is essential to help you understand your eligibility for these grants and how they can help you.

First Home Owners Grant NSW

The First Home Owners Grant (FHOG) is an initiative that provides eligible buyers with money for their property purchases. While nationwide, the money sum, terms and conditions for FHOG vary between each Australian State and Territory.

In NSW, FHOG offers an extra $10,000 to eligible individuals looking to purchase or construct their first home. Most eligible first home buyers use their $10,000 grant towards their home deposit. While relatively a small sum, the grant may help boost your savings to help you put down a deposit equal to 20% of your property value. This effectively will avoid lenders’ mortgage insurance (LMI) and help secure a better home loan rate.

However, there are specific terms and conditions that you must meet to qualify for the grant.


To qualify for the NSW FHOG, you must purchase a new home that's total value is below or equal to $600,000. This essentially means that you cannot qualify for FHOG if you have purchased an existing home.

According to the NSW FHOG Act, a new home can be either:

Alternatively, if you decide to purchase vacant land to build your first property, you can still qualify for FHOG, given that the final land and construction costs do not exceed $750,000.

Property Purchase Type Maximum Purchase Price
Newly Built Home $600,000
Substantially Renovated Home $600,000
Vacant Land for Home Construction $750,000
(includes house and land expenses)


Alongside following these purchase terms, you must fulfil an eligibility criteria to qualify for the $10,000 grant.

According to Revenue NSW, to be considered eligible for FHOG, you must:

How to Apply for First Home Owners Grant NSW

When applying for the First Home Owner Grant, there are two possible avenues:

The avenue you select will ultimately determine how you fill out your FHOG application form. For example, if you choose to apply directly to Revenue NSW, you will need to include more supporting documents than if you go with an agent.

Some supporting documents that you will need for the application form include:

When applying with an approved agent, eligible first home buyers typically complete the form when lodging their loan application. Meanwhile, if you select Revenue NSW, you will need to submit the form to within 12 months of settlement on your property or completed construction.

First Home Buyer Assistance Scheme NSW

The NSW First Home Buyer Assistance Scheme (FHBAS) is an extremely useful grant that provides you with either a concession (discount) or exemption (fee waiver) on stamp duty costs.

Stamp duty, now known as transfer duty, is a Government tax that varies depending on your State or Territory. The total amount of tax you pay on your purchase is based on the value of your home. For example, if you buy an existing home valued at $650,000 in NSW, you can pay up to $24,555.00 in stamp duty.

The NSW Government has imposed several terms for first-time buyers looking to access the FHBAS, ultimately determining whether you’ll receive a concession or full exemption on stamp duty.


In NSW, the FHBAS applies to any property purchase of:

According to Revenue NSW, you can qualify for the FHBAS if you buy a home or vacant land valued at less than $800,000 after August 1st 2021. Your concession or exemption on stamp duty will depend on the property value and the type of home.

The following table provides a complete breakdown of whether you will receive a full exemption on concession.

First Home Buyer
Assistance Scheme Benefit
(After 01/08/2021)
New Homes Existing Homes Vacant Land
(Discount on Stamp Duty)
If the property is valued between
$650,000 and $800,000.
If the property is valued between
$650,000 and $800,000.
If the property is valued between
$350,000 and $450,000.
Full Exemption
(No Payment of Stamp Duty)
If the property is valued at less than
If the property is valued at less than
If the property is valued at less than

If you qualify for a concession, the discount amount will depend on the total value of your property. Check out our stamp duty calculator to find out the exact amount you could save from FHBAS.


Similar to the FHOG, home buyers in NSW are eligible for the FHBAS if they:

How to Apply for First Home Buyer Assistance Scheme NSW

After completing your contract exchange with the previous proprietor, you must submit the following two forms to either a solicitor or conveyancer:

Your solicitor or conveyancer will inform you of the application outcome once assessed by Revenue NSW.

Other Available Grants

There are several other Government grants available for first home buyers in NSW. However, these are more difficult to secure due to strict eligibility requirements.

The First Home Super Saver Scheme

In the 2017-2018 Federal Budget, the Australian Government introduced the First Home Super Saver Scheme (FHSSS). The Government designed this initiative to help you save for a deposit faster, allowing you to make contributions to your superannuation that can be later withdrawn to help fund your home purchase.

However, there are restrictions to this scheme:

The Family Home Guarantee

In the 2021-2022 Federal Budget, the Government announced 10,000 positions for the Family Home Guarantee over 4 financial years. The scheme targets struggling single parents by helping them obtain a loan with only a 2% deposit. Consequently, the Government guarantees the other 18% of the deposit, helping single parents secure loans easier and avoid LMI.

In the most recent 2022-2023 Federal Budget, the Government revealed that they are extending the scheme for 3 financial years and offering an additional 5,000 places for single parents.

The New Home Guarantee

Previously referred to as the First Home Loan Deposit Scheme, the New Home Guarantee offers first-time buyers an opportunity to secure a home loan with a 5% deposit. Accordingly, the Australian Government guarantees the other 15% of the deposit and helps first home buyers avoid LMI.

The scheme is limited to 10,000 spots per financial year and can only be accessed through 27 specific lenders. For more information, check out our guide here.

Not from NSW?

If you’re a first home buyer located outside of New South Wales, you will find that there are different rules and regulations to access Government grants. Check out our State specific guides below:

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