The first home owner grant scheme was established to assist eligible first home owners to purchase a new home or build their home by offering a grant. This is the only grant currently available in NSW. For eligible transactions made on or after 1 January 2016, the grant amount is $10,000.
What is a new home?
A new home is:
- a home that has not been previously occupied, including occupation by the builder, a tenant or other occupant.
- a home that has not been previously sold as a residence. Where the home is being purchased, it must be the first sale of that home
- a home that has been substantially renovated and a home built to replace demolished premises.
Am I eligible?
To be eligible for the grant:
- the contract date must be on or after 1 January 2016
- the home is a brand new home
- you are over 18
- you or your spouse (including de facto spouse) have never held a relevant interest in any residential property in Australia prior to 1 July 2000
- However, you may be eligible if you or your spouse, including de facto spouse, have only had a relevant interest in any residential property in Australia on or after 1 July 2000 and you have not resided in that property for a continuous period of at least 6 months.
- the value of the property must not exceed the First Home Owner Grant Cap of $750,000
- you have not received a first home owners grant in any State or Territory, unless subsequently repaid
- you need to live in the home for a continuous period of at least 6 months
- at least one applicant is a permanent resident or Australian citizen
- each applicant must be a natural person and not a company or trust.