NSW First Home Buyers Grant Summary
Are you confused about what grant(s) you can receive as a first home buyer in New South Wales? We have developed a quick summary below. Grants change regularly, so it is always a good idea to review the state government’s website to confirm your eligibility or simply contact us.
At Mortgage Choice Sydney, our goal is to educate and make the process as easy as possible. When is the last time you purchased property? It is important that you deal with industry professionals throughout the entire process. If you’re ready to buy your first home or just doing a bit of research, it’s important to understand what Government support is available when it comes to grants and incentives and how much you could save!
Applying for the First Home Owner Grant is easy, and we can guide you through the paperwork.
NSW Stamp Duty Waiver/Discount
- No stamp duty up to $800,000
- Discounted stamp duty from $800,000 – $1,000,000
- No stamp duty up to $350,000
- Discounted stamp duty from $350,000 – $450,000
NSW Shared Equity Scheme
- The NSW Government will contribute a proportion of the purchase price of a property in exchange for an equivalent interest in the property.
Applicants must be;
- single parents of a dependent child or children
- single people 50 years of age or above, or
- first home buyer key workers who are nurses, midwives, paramedics, teachers, early childhood educators or police officers.
NSW First Home Buyers Grant
- $10,000 grant
- Buying or building your first home.
- It’s a new home that no-one has lived in before.
- It’s worth no more than $750,000.
Australian Government First Home Loan Deposit Scheme
Allows you to take out a mortgage with just a 2-5% deposit and avoid paying lender’s mortgage insurance (LMI).
Australian Government First Home Super Saver Scheme
Allows you to access up to a total of $50,000 contributions of your voluntary concessional (before-tax) and voluntary non-concessional (after-tax) contributions into your super fund to save for your first home.
Still confused? Why not book an appointment with us today to discuss your individual circumstances? What have you got to lose!?