August 10, 2026

Assistance for First Home Buyers

Introduction

There are two main types of assistance for First Home Buyers.

First Home Buyers Assistance Scheme

First Home Owner (New Home) Grant

To be eligible for either assistance you must be:

18 years or over:

An Australian citizen or permanent resident of Australia:

Be purchasing your first home:

Planning to live in the home for 12 months.

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First Home Buyers Assistance Scheme - FHBAS

The First Home Buyers Assistance Scheme provides first home buyers with a full or reduced rate of transfer duty. The FHBAS applies to existing properties and vacant land.

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Existing properties

Where the purchase price is under $800,000 no stamp duty will be payable saving you $

Where the purchase price is up to $1,000,000 you will pay a reduced rate of stamp duty.

Where the purchase price is $1,000,000 and above the FHBAS will not apply and you will pay normal stamp duty rates.

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Vacant Land

Where the purchase price is under $350,000 no stamp duty will be payable saving you $

Where the purchase price is up to $450,000 you will pay a reduced rate of stamp duty.

Where the purchase price is $1,000,000 and above the FHBAS will not apply and you will pay normal stamp duty rates.

Further information can be found here.

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First Home Owner (New Home) Grant

First Home buyers who are building or buying a brand new home (never lived in) may be eligible for a $10,000 grant. The property types and limits applicable to receive the grant are:

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Home and Land Package

Purchase price must be less than $750,000

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Newly built residence

Purchase price must be less than $600,000

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New renovated (criteria applies)

Purchase price must be less than $600,000

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Further information can be found here.

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Frequently Asked Questions

What help is available to first home buyers in NSW?

Two programs sit at the centre of it. The First Home Buyers Assistance Scheme (FHBAS) cuts or wipes out the transfer duty you would otherwise pay, and it covers both established homes and vacant land. Separately, the First Home Owner (New Home) Grant puts $10,000 towards a brand new build. They target different purchases, so which one applies comes down to what you are buying. Established home means FHBAS territory. Something never lived in opens up the grant as well. Both carry their own price caps, and those caps are where most eligibility questions get decided.

Do I qualify for either scheme?

Four baseline conditions apply across both programs. You need to be at least 18, an Australian citizen or permanent resident, buying your first home, and intending to live in it for 12 months. That last one rules out treating the purchase purely as an investment from day one. Clear those four and the next question becomes purchase price, since each program applies its own thresholds on top of the basic criteria. Worth confirming your position before you commit to a property rather than after, as the difference between qualifying and missing out can run to tens of thousands.

How much stamp duty will I actually save?

For an existing property, buying under $800,000 means no transfer duty at all. Between that figure and $1,000,000 you pay a reduced rate that scales with the price. Once you reach $1,000,000, the FHBAS drops away entirely and standard duty rates apply. Vacant land works on lower thresholds. Nothing is payable below $350,000, a concessional rate applies up to $450,000, and above that the scheme stops assisting. These bands matter when you are negotiating, because a modest increase in purchase price can push you past a threshold and add substantially to your settlement costs.

What do I need to buy to get the $10,000 grant?

Something new. The First Home Owner (New Home) Grant is limited to first home buyers who are building or purchasing a residence nobody has lived in. The price limit depends on the format of the purchase. A house and land package has to come in under $750,000. A newly built residence must be below $600,000, and the same $600,000 cap applies to a substantially renovated property, though additional criteria attach to that category. If your budget sits above these limits, the grant is off the table even where you meet every other requirement.

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Conclusion

If you are a first home buyer, we are happy to help you work through the various assistance programs available.

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