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Buying your first home in New South Wales, you can draw on two main types of state government help — a cash grant for new homes and relief from transfer duty (stamp duty) — plus federal support that works alongside both. The dollar amounts, property value caps and fine print change with state budgets, sometimes at short notice, so this guide focuses on how each type of help works and who typically qualifies, rather than chasing every figure. The facts here were last reviewed in July 2026, and schemes do change — always confirm the current details with Revenue NSW before you commit to anything.
The First Home Owner Grant (New Homes) scheme is a one-off payment for first home buyers who buy or build a brand-new home. New generally means a home that has never been lived in or previously sold as a place of residence — a newly built house, an apartment bought off the plan, or in some cases a home that has been substantially renovated. Established homes do not qualify for the grant, no matter how modest the price.
As at July 2026, the grant for eligible transactions is a one-off payment of $10,000, and property value caps apply — with different caps depending on whether you are buying a completed new home or entering a building contract. Both the amount and the caps can change, so check the current settings with Revenue NSW before you count the grant in your deposit budget.
Most buyers apply for the grant through their lender as part of the home loan application, which keeps the timing and paperwork in one place. You can also apply directly to Revenue NSW after settlement if needed.
For most first home buyers, duty relief is worth far more than the grant. Under the First Home Buyers Assistance Scheme, eligible buyers pay no transfer duty at all on homes below a set value threshold, and a concessional rate on homes valued between that threshold and an upper cap. Above the cap, normal duty applies. The scheme also has separate, lower thresholds for vacant land bought to build your first home on.
Two features make this scheme especially useful. First, unlike the grant, it covers established homes as well as new ones — buyers of older houses and units are not left out. Second, on a typical Sydney-priced purchase the saving can run to tens of thousands of dollars, which usually dwarfs the grant. The thresholds are adjusted from time to time, so check the current figures with Revenue NSW, then use our stamp duty calculator to estimate what duty looks like with and without the concession.
State schemes are only half the picture. The federal Home Guarantee Scheme, administered by Housing Australia, lets eligible buyers purchase with a deposit as small as 5 per cent without paying lenders mortgage insurance (LMI), because the Commonwealth guarantees part of the loan to the lender. The scheme has been expanded significantly in recent years, but property price caps and eligibility conditions still apply and vary by location — check the current settings with Housing Australia.
Shared equity is the other thread: under the federal Help to Buy scheme, the government contributes to the purchase price in exchange for an equity stake in the property, and NSW has also run its own shared equity arrangements at various times. Availability of these programs shifts from year to year, so treat them as options to verify rather than entitlements to assume. If a small deposit is your main hurdle, our guide to low deposit home loans walks through the full menu of options.
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Each program has its own rules, but the same patterns repeat across nearly all NSW and federal first home buyer help:
Getting these wrong is expensive. If you receive help you were not entitled to — for example, by moving out before the residence period ends without telling Revenue NSW — you can be required to repay it, potentially with interest and penalties.
The schemes are not mutually exclusive. A buyer of a new home might receive the grant, pay reduced or zero transfer duty, and buy under the Home Guarantee Scheme — each subject to its own eligibility test and caps. But the order of operations matters:
Each moving part changes your funds to complete — the actual cash you need on settlement day. A duty exemption you assumed but did not qualify for can leave a five-figure hole in your budget at the worst possible moment. Run your numbers early with our borrowing capacity calculator, and read our first home buyer guide for the full journey from deposit to keys.
A broker works with these schemes every week: which lenders participate in the Home Guarantee Scheme, how to lodge the grant with your loan application, and how the duty concession changes the cash you need at settlement. Because the rules move and every situation is different, a short conversation early can save you both money and stress — get in touch and we can map out which help you are likely to qualify for before you start inspecting homes.
No. The grant applies only to new homes — newly built, off the plan, or in some cases substantially renovated. Established homes do not qualify for the grant, but the First Home Buyers Assistance Scheme covers established homes too, so you may still pay reduced or no transfer duty. Confirm your eligibility with Revenue NSW.
Potentially yes. The NSW grant, the First Home Buyers Assistance Scheme and the federal Home Guarantee Scheme are separate programs with separate eligibility tests, and qualifying for one does not disqualify you from the others. Each has its own property value or price caps, so a purchase needs to fit within all of the relevant limits at once.
Yes. Both the grant and the duty concessions carry residence requirements — you generally must move in within a set period and live there continuously for a minimum time, commonly in the six-to-twelve-month range. If your circumstances change, contact Revenue NSW rather than quietly moving out, because unmet residence requirements can mean repaying the benefit with penalties.
Usually a spouse or de facto partner's previous ownership of residential property in Australia affects your eligibility, even if the new home will be in your name alone. The exact treatment differs between the grant, the duty scheme and federal programs, so check your specific situation with Revenue NSW and Housing Australia before assuming either way.
Timing depends on how you buy. For a completed new home, the grant is generally available at settlement; for a building contract, it is typically paid when construction reaches an early milestone, such as the first progress payment. Applying through your lender usually aligns the payment with when you need the funds.
This article is general information only and doesn't consider your personal objectives, financial situation or needs — it isn't personal credit advice, and lending criteria, rates, fees and government schemes change. Before acting, speak with a licensed MakeMyLoan broker or credit representative who will assess your circumstances and provide a credit guide before any credit assistance is given.
