If you're thinking about buying or building a home in New South Wales, you could be eligible for a number of first home buyer grants, bonuses and duty reductions worth thousands of dollars, including:
- First Home Buyers Assistance Scheme
- First Home Owner Grant (New Home) Scheme
- New Home Grant Scheme
With the number of discounts currently available, now is a great time to buy or build your new home.
Contact us and we can help check you’re eligibility for these grants.
First Home Buyers Assistance Scheme
The First Home Buyers Assistance Scheme commenced on 1 July 2017 and provides eligible purchasers with exemptions for duty on property where there is a private dwelling on the land (including houses or a units) to the value of $650,000 and $350,000 for vacant land.
Concessions on duty at a rate of 21% of the dutiable value will be available to eligible purchasers of private dwellings where the value of the property exceeds $650,000 but is less than $800,000.
Concession on duty at a rate of 15.74% of the dutiable value will be available to eligible purchasers of a vacant block of residential land where the value of the property exceeds $350,000 but is less than $450,000.
This scheme is only available to purchasers where the contract date is on or after 1 July 2017.
First Home Owner Grant (New Home) Scheme
The First Home Owner Grant (New Home) Scheme provides eligible purchasers to obtain a grant in the amount of $10,000.00 where:
- they are purchasing a new home worth up to $600,000; or
- they are building a new home worth up to $750,000 (being the total value of the land and building).
These rates apply from 1 July 2017.
New Home Grant Scheme
The New South Wales New Home Grant Scheme commenced on 1 July 2012 and ceased on 30 June 2017.
A purchaser will be eligible under this scheme if the Contract date is on or after 1 July 2012 and before 1 July 2017.
This scheme provides a grant of $5,000 towards the purchase of new homes, homes off the plan and vacant land on which a new home will be built.