First Home Buyer Guide: NSW
Everything you need to know about buying your first home in New South Wales, including grants, stamp duty exemptions, and government schemes.
$10,000
FHOG (New Homes)
$31,335
Max Duty Saving
5%
Min Deposit (FHG)
$800K
Duty-Free Threshold
Available Schemes & Grants
First Home Buyer Assistance Scheme
Stamp duty exemption or concession for eligible first home buyers
Up to $31,335 stamp duty saving
Eligibility:
- ✓ Australian citizen or PR
- ✓ Buying in NSW
- ✓ Never owned property in Australia
- ✓ Property value up to $1M
First Home Owner Grant (New Homes)
$10,000 grant for buying or building a new home
$10,000 cash grant
Eligibility:
- ✓ Property value up to $600,000
- ✓ New home only
- ✓ Must live in property for 12 months
- ✓ One grant per person lifetime
First Home Guarantee
Federal scheme - buy with 5% deposit, no LMI
Save $15,000-40,000 on LMI
Eligibility:
- ✓ Income under $125,000 (single) or $200,000 (couple)
- ✓ Property up to $900,000 in Sydney
- ✓ Must be owner-occupier
First Home Super Saver Scheme
Use super contributions to save for deposit
Tax-effective saving (save 15-30%)
Eligibility:
- ✓ Made voluntary super contributions
- ✓ Maximum $50,000 withdrawable
- ✓ First home buyer
Stamp Duty Savings Examples
| Purchase Price | Standard Duty | FHB Duty | You Save |
|---|---|---|---|
| $600,000 | $22,490 | $0 | $22,490 |
| $700,000 | $27,490 | $0 | $27,490 |
| $800,000 | $31,335 | $0 | $31,335 |
| $900,000 | $36,335 | $18,167 | $18,168 |
| $1,000,000 | $40,335 | $40,335 | - |
Step-by-Step Buying Process
1
Check Your Eligibility
Confirm you meet first home buyer criteria for NSW grants and concessions.
2
Get Finance Pre-Approval
Know your borrowing power. Apply for First Home Guarantee if eligible.
3
Find Your Property
Search within your budget, considering duty thresholds ($800K for full exemption).
4
Make an Offer
Work with your solicitor/conveyancer. Get building and pest inspections.
5
Exchange & Settlement
Your solicitor applies for FHB benefits. FHOG applied at settlement.
Property Price Caps (2024-25)
First Home Guarantee (Federal)
- • Sydney: $900,000
- • Newcastle/Lake Macquarie: $750,000
- • Regional NSW: $600,000
FHOG (State)
- • New homes: Up to $600,000
- • Land + build: Total up to $750,000
- • Existing homes: Not eligible