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Unlocking Homeownership in NSW: Key Initiatives for First-Time Buyers

First Home Buyers

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Embarking on the journey of homeownership, especially towards a brand-new home, marks a significant milestone. In this process, understanding how to maximize benefits and garner substantial support in the First Home Owner Grant (FHOG) and Shared Equity Home Buyer Helper will profoundly impact your homebuying journey. This article compiles unique opportunities in the property market of New South Wales, Australia, assisting you in taking the first step into homeownership with confidence.


First Home Owner Grant (FHOG)

Unlocking the door to your first home, the FHOG provides a $10,000 boost, whether you're buying or building.

Property Value Requirements:

  • For newly built house, townhouse, apartment, unit or similar the purchase price must not exceed $600,000.

  • Purchasing vacant land and signing a building contract with a builder, then the value of the vacant land plus the value of the comprehensive home building contract plus the cost of any building variations done together. The total combined cost must not exceed $750,000.

  • If you purchase a home which was substantially renovated by the seller, the purchase price must not exceed $600,000.

First Home Buyer Eligibility Conditions:

  • Age requirement: Each applicant must be at least 18 years old.

  • Buyer category eligibility: Must be an individual, not representing a company or trust.

  • Residency status: At least one applicant must be an Australian citizen or permanent resident.

  • Historical property ownership restriction: You or your spouse must not have owned property after 1 July 2000.

  • Contracts signed before 1 July 2023: Occupy the first home within 12 months, with a minimum continuous occupancy of 6 months.

  • Contracts signed on or after1 July 2023: Occupy the first home within 12 months, with a minimum continuous occupancy of 12 months.

How to Apply?

If you require the grant for settlement or first drawn down/progress payment, you must lodge your application with the approved agent who is providing you finance.

If you’ve already completed the purchase or construction process, you can lodge your application via the FHOG customer portal.

First Home Owner Grant

First Home Buyers Assistance Scheme

Aspiring homeowners in NSW may be eligible for full exemption or reduced transfer duty rates under the First Home Buyers Assistance Scheme.

Eligibility Criteria:

  • Purchase must be for a new or existing home, or vacant land in NSW.

  • Property value must be within specified threshold amounts.

  • Transfer must involve the whole property.

  • Buyer must be an individual (not a company or trust*).

  • Buyer must be at least 18*.

  • Buyer and spouse or partner must never have owned or co-owned residential property in Australia.

  • Buyer and spouse or partner must never have previously received an exemption or concession under the scheme.

  • At least one of the first home buyers must be an Australian citizen or permanent resident.

  • For new or existing homes, the buyer must meet the requirements for living in the property.


*Latest Property Value and Thresholds (On or After 1 July2023)

new and existing homes
vacant land

(The First Home Buyers Assistance Calculator should be used for all purchases from 1 July 2017.)

revenue NSW calculator

Shared Equity Home Buyer Helper

The Shared Equity Home Buyer Helper in NSW aims to assist those facing unique circumstances, such as single parents, individuals over 50, key workers, and survivors of domestic violence.

Eligibility Criteria:

  • Single parents with dependent children.

  • Individuals aged 50 and above.

  • First home buyers employed as key workers*.

  • Victim-survivors of domestic and family violence.


Details of the Scheme:

  • Under the Shared Equity program, the NSW Government can contribute up to 40% of the purchase price for a brand-new home or 30% for an existing dwelling.

  • Payments or rent aren’t required on the Government’s equity interest in the property while you remain eligible for Shared Equity.


*Key workers: Early childhood educators, teachers (up to Year 12), nurses, midwives, paramedics, and NSW police officers.

For more information, refer to the Shared Equity customer information guide.

Shared Equity Home Buyer Helper

These unique opportunities in NSW property market offer significant economic support and convenience for homebuyers. The decision to buy a home is a crucial milestone, and our social media platforms will continue to update you on policy changes.


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