Links Property Finance · Home loans for first home buyers: First Home Owner Grant NSW
Often called the first home buyers grant, the First Home Owner Grant is $10,000 for eligible first home buyers of new homes in NSW.
Who gets the $10,000 First Home Owner Grant, and why is it new builds only?
Eligible first home buyers of a new home: newly built, off the plan or substantially renovated, up to $600,000, or up to $750,000 for land plus a building contract. It does not apply to established homes.
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It can stack with the stamp duty exemption and the 5% Deposit Scheme where each applies.
Part of the first home buyer loans guide.
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What could a 5% deposit get you?
What could a 5% deposit get you?
No LMI: an estimated $22,800 premium avoided (a broad guide; real premiums vary by lender and loan).
Stamp duty: $0 for eligible NSW first home buyers (saves $30,187).
Indicative only. The deposit excludes stamp duty, legal and inspection costs, and a participating lender, not this calculator, confirms 5% Deposit Scheme eligibility.
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What is the grant?
The First Home Owner Grant is a $10,000 payment for eligible buyers of new homes, including newly built properties and in some cases substantially renovated ones. It targets new supply, so an established house or apartment does not qualify no matter how much it feels like a first home.
Price caps and eligibility criteria apply, they are set by Revenue NSW, and Revenue NSW confirms eligibility, so treat their published rules as the source of truth rather than a summary you read somewhere, including this one.
In practice the grant comes up most for house-and-land purchases, off-the-plan apartments, and brand-new builds in growth corridors. If your shortlist is established property in the inner suburbs, the grant is not part of your arithmetic, and pretending otherwise distorts the plan.
Charles Touma, Mortgage Broker.
What do buyers get wrong?
- The common mistake is planning around the grant before checking the property type.The second is assuming the grant and the duty exemption are the same thing, they are separate schemes with separate criteria, applied separately. The third is timing: on a construction purchase the grant is tied to stages of the build, so when the money lands matters to your cash flow plan, and the lender's and Revenue NSW's timing rules both apply.
- Eligibility looks at the buyers, including whether you have owned property before and whether you will live in the home, and those tests apply to each purchaser.Buying with a partner who has owned before changes the answer, which is worth establishing before the shortlist, not after the offer. Buying with a partner covers how joint eligibility works.
How does it stack with the other schemes?
The grant is one layer. Eligible buyers commonly combine layers, and the combination is decided by the property as much as by the buyer.
Exemption up to $800,000 and a concession on a sliding scale to $1 million for eligible first home buyers. Applies to established and new property alike, so it works alongside the grant on a new build. Your duty figure.
The government guarantee can cover house-and-land within its price and timing rules, with the Sydney cap at $1.5 million. Five per cent down, no lenders mortgage insurance. Check eligibility.
$10,000 toward an eligible new home. Applied for through your lender, it is usually paid at settlement for a completed new home, or with the first progress payment when you build, so it reduces the cash you need on the day. Applied for directly with Revenue NSW, it is paid afterwards instead.
Common questions about the First Home Owner Grant
Does the grant apply to established homes?
No. It applies to new homes, including newly built properties and in some cases substantially renovated ones, within the scheme's caps. An established house or apartment does not qualify.
Can I combine the grant with stamp duty relief and the 5% Deposit Scheme?
Commonly, yes, where you and the property meet each scheme's separate criteria. The grant targets new builds, duty relief applies within its price bands, and the 5% Deposit Scheme has its own caps and timing rules, so the combination is checked scheme by scheme.
Who confirms whether I am eligible?
Revenue NSW publishes the criteria and confirms eligibility, and the application commonly runs through your lender at settlement. Scheme details change, so the current published rules are the ones that count.
When do I receive the money?
Timing depends on the purchase type: buying a completed new home differs from a construction contract, where payment ties to the build.
Applied for through your lender, it is usually paid at settlement or with the first progress payment; applied for directly with Revenue NSW, it arrives after settlement or completion, so the route matters when you plan the cash.
The grant is only one part of buying a first home in NSW, and many of the wider questions are answered in our first home buyer FAQ.
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General information only, not credit or financial advice. Government scheme criteria, caps and amounts are set by Revenue NSW and change; confirm the current rules before relying on them. All lending is subject to individual assessment and approval.
Official sources for the figures on this page: Revenue NSW, First Home Owner (New Homes) Grant · Revenue NSW, First Home Buyers Assistance Scheme. Scheme rules change; the official pages are the final word. Checked against these sources on 12 October 2026.