The 2017 guide to the First Home Owner Grant in NSW

If you’re a first home buyer in NSW, find out what grants and concessions may be available to you if you’re eligible for the First Home Owner Grant (FHOG)

Under the FHOG in NSW, there are several schemes which have been developed to help first home buyers get into the property market sooner: The First Home-New Home Scheme, the First Home Owner Grant (New Homes) Scheme, and the New Home Grant Scheme.

Below we outline the different schemes available for NSW first home buyers to help you decide which one might be relevant for you.

The first home owner grant (FHOG) in NSW

The current FHOG, called the 'First Home Owner Grant (New Homes) Scheme' applies only to those buying new homes, and provides eligible purchasers with $10,000 to go towards purchasing or building a new home. This applies to anyone with an eligible transaction occurring after 1 January 2016.

If the eligible transaction occurred between 1 October 2012 - 31 December 2015, then the grant amount is $15,000.

To be eligible for the FHOG, the value of the home cannot exceed certain cap amounts:

^{(Source: The NSW State Office of Revenue)}

First Home - New Home scheme

The First Home - New Home scheme commenced from 1 January 2012. The scheme offers eligible buyers exemptions or concessions on property transfer duty. This includes an exemption from stamp duty for new homes valued up to $500,000 and concessions on duty for new homes valued between $500,000 and $600,000.

New homes

If you want to estimate the concession on a new home valued between $500,000 and $600,000, take the purchase price and multiply it by 0.2249 then subtract $112,450.

The table below outlines the duty concessions available for new homes:

^{(Source: The NSW State Office of Revenue)}

Vacant land

The First Home-New Home scheme also provides a duty exemption on vacant land valued up to $300,000 and concessions for vacant land valued between $350,000 and $450,000.

To calculate the concession on vacant land, take the purchase price and multiply it by 0.1049 and subtract $31,470.

The below table identifies the concessions available for vacant land:

^{(Source: The NSW State Office of Revenue)}

Eligibility for FHOG

Your eligibility for the FHOG is determined by the conditions of the individual scheme, the property value and the date in which you entered into the eligible transaction.

Generally, you’ll need to satisfy the following (among other criteria) to qualify:

• Each applicant is a natural person (e.g. not a company)
• At least one applicant is a permanent resident or an Australian citizen
• Each applicant must be aged 18 years or older
• All applicants have not owned a residential property in Australia before July 2000
• All applicants have not previously owned a residential property for a continuous period of at least six months
• All applicants have not previously received a grant under the First Home Owner Grant Act 2000 in any state or territory
• At least one applicant will occupy the home as their principal place of residence for a continuous period of 6 months

To find out if you’re eligible for the FHOG, please visit the NSW State Office of Revenue and review the eligibility requirements for the scheme you’d like to apply for.

Check out our complete FHOG guide.

How to apply for the FHOG

If you’d like to apply for the FHOG, you can do so through your financial institution or through NSW Office of State Revenue.

Keep in mind that you can only lodge an application with NSW Office of State Revenue once you are registered on the property title.

FAQ about the FHOG

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