Buying your first home in New South Wales is one of the most significant financial milestones of your life — and the first home buyer grants available in NSW make it more achievable than many people expect. The NSW Government offers a range of grants, stamp duty concessions, and assistance schemes designed to help first home buyers get into the market sooner. You can verify current grant details with Revenue NSW. Understanding which of these schemes you’re eligible for and how to use them effectively can save you tens of thousands of dollars and dramatically change what you can afford. This comprehensive guide covers every first home buyer grant and scheme available in NSW, explains the eligibility requirements, and explains how SB Finance’s specialist home loan brokers help first home buyers navigate the process, choose the right loan structure, and maximise every dollar of assistance available to them.
First Home Owner Grant (FHOG) in NSW
The First Home Owner Grant (FHOG) is a one-off payment from the NSW Government to eligible first home buyers who are purchasing or building a new home. In NSW, the grant is a fixed lump sum, and it is capped by the value of the property — with a different cap for a completed new home and for a land-plus-build contract. Revenue NSW publishes the current grant amount and both caps on its First Home Owner (New Homes) Grant page. To be eligible for the NSW FHOG, you must be purchasing or building a new home (not an established property), the property must be in NSW, you must be an Australian citizen or permanent resident, you must be at least 18 years of age, and you must not have previously owned residential property in Australia. You must also intend to live in the property as your principal place of residence for at least 12 continuous months, commencing within 12 months of settlement or completion. The FHOG is paid at settlement for purchases, or at the first drawdown of funds for new builds. It can be used toward your deposit, reducing the amount you need to save. Your SB Finance broker will help you incorporate the FHOG into your home loan application and ensure the timing of the grant payment aligns with your settlement requirements.
First Home Buyer Stamp Duty Exemptions and Concessions in NSW
Stamp duty is one of the largest upfront costs of buying a home, and the NSW Government offers significant relief for eligible first home buyers. Below a lower value threshold, eligible first home buyers pay no transfer duty at all. Between that threshold and an upper one, a concessional amount applies that tapers as the value rises, and above the upper threshold the standard rates apply. Both thresholds and the resulting saving are set by the NSW Government and have been revised more than once, so confirm the figures for your purchase on the Revenue NSW First Home Buyers Assistance Scheme page. These exemptions apply to both new and established properties, making them more broadly accessible than the FHOG (which is limited to new homes). To be eligible, the property must be your principal place of residence, you must be a first home buyer (no previous residential property ownership in Australia), and you must be an Australian citizen or permanent resident. For Hills District first home buyers, where property prices in suburbs like Castle Hill, Baulkham Hills, Kellyville, and Norwest often sit above the concession thresholds, understanding exactly where your purchase falls on the scale is particularly important. Your SB Finance broker will help you understand exactly how much stamp duty you will be required to pay on your specific purchase and ensure it’s factored into your total purchase cost calculations.
Low-Deposit Buying Without LMI
The Australian Government runs a low-deposit scheme — currently branded the Australian Government 5% Deposit Scheme — that lets eligible first home buyers purchase with a much smaller deposit than lenders normally accept, without paying Lenders Mortgage Insurance. The government guarantees the shortfall between your deposit and the deposit a lender would otherwise require, and it is that guarantee which removes the LMI premium. The scheme has been renamed and restructured more than once, so treat the official page as the source of truth on what it is called and how it works today. LMI can run into many thousands of dollars depending on the loan size and the borrower’s LVR (loan-to-value ratio). Avoiding LMI through the scheme can save first home buyers a significant sum and allow them to get into the market sooner with a smaller deposit. Property price caps and income caps both apply, and the Sydney metropolitan cap is the one that covers the Hills District. Those caps are reviewed periodically, so check the current figures before you rule a property in or out. Places are limited and are allocated through a panel of participating lenders — your SB Finance broker will help you determine if you qualify and, if so, apply through an eligible participating lender.
Buying in a Regional Area
A regional stream has historically sat alongside the metropolitan scheme, aimed at first home buyers purchasing outside the capital cities, with its own property price caps. Property price caps and eligibility requirements differ from the metro scheme — speak with your SB Finance broker to determine whether this scheme applies to your purchase.
Help to Buy: Shared Equity With the Government
The Help to Buy Scheme is a federal shared equity initiative that allows eligible first home buyers to purchase with a smaller deposit and smaller loan, with the federal government taking a co-ownership stake in the property. The size of the equity share the government will take differs between a new home and an established one, and the minimum deposit the buyer must contribute is set by the scheme rules rather than by the lender. The scheme is designed to help buyers who can afford mortgage repayments but are struggling to save a sufficient deposit. Buyers can buy out the government’s equity stake over time as their financial position improves. Income caps and property price caps both apply, and the price caps vary by location. The Australian Government Help to Buy Scheme page carries the current figures. Full implementation details and availability of places should be confirmed at the time of application — your SB Finance broker will have the latest information on scheme availability.
First Home Super Saver: Building a Deposit Through Super
The First Home Super Saver Scheme (FHSS) allows eligible first home buyers to voluntarily contribute to their superannuation and then withdraw those contributions (plus associated earnings) to use toward their first home deposit. The tax advantages of making contributions through super — which are generally taxed at a lower rate than your marginal income tax rate — can accelerate your deposit savings significantly. There is a cap on how much can be released, and only voluntary contributions made after the scheme started can be counted. The First Home Super Saver Scheme page sets out the current release limit. To be eligible, you must never have owned property in Australia, must be 18 years of age or older at the time of the withdrawal request, and must not have previously made an FHSS release request. The FHSS is applied for through the ATO and the funds are released directly to you on application. Your SB Finance broker can explain how the FHSS interacts with your broader home loan application and deposit requirements.
Confirm every figure at the source. Grant amounts, value caps, income tests and the number of places on offer are set by government and are revised regularly — sometimes mid-year. Before you budget, check:
Your borrowing capacity depends on your income, expenses, existing debts, deposit amount, and the lender’s assessment criteria. Combining the grants and concessions you qualify for with your own savings can change what is achievable by a surprising margin — a grant, a duty exemption and a super release can together lift a deposit past a lender’s threshold and remove LMI at the same time. The only way to know exactly what you can borrow is to speak with an experienced mortgage broker who can run a detailed assessment of your situation, model different scenarios, and identify the combination of schemes and lenders that maximises your purchasing power. That’s exactly what our SB Finance home loan specialists do — every day, for first home buyers across Sydney’s Hills District and greater NSW.
Hills District First Home Buyers: What the Market Looks Like
Sydney’s Hills District remains one of the most desirable family locations in greater Sydney, with its combination of quality schools, green spaces, excellent infrastructure, and strong community. Median house prices across the Hills District have remained resilient, with suburbs like Castle Hill, Baulkham Hills, Kellyville, and Norwest continuing to attract strong buyer demand. For first home buyers targeting the Hills District, units and townhouses remain considerably more accessible than detached houses, which command prices well above the stamp duty exemption threshold in most suburbs. Emerging suburbs like Box Hill and Riverstone, which fall within the Hills District Local Government Area, offer newer stock at more accessible price points — our brokers know the local market well and can help you identify where your budget is best deployed.
How SB Finance Helps You Claim First Home Buyer Grants
Our specialist home loan brokers have helped hundreds of first home buyers across Sydney’s Hills District purchase their first property, navigate government assistance schemes, and secure competitive home loan rates. We compare home loans from a panel of 40+ lenders — including the major banks, specialist lenders, and non-bank lenders — to find the loan that best suits your situation. We handle the entire process from initial assessment through to settlement, including helping you understand and apply for relevant government grants and schemes, structuring your application for the highest chance of approval, managing all lender communication and documentation, and ensuring a smooth and stress-free settlement experience. Our service is free to you as the borrower — we’re compensated by lenders when your loan settles.
Frequently Asked Questions – First Home Buyers NSW
Can I get the First Home Owner Grant if I buy an established home?
The NSW First Home Owner Grant is only available for new builds or substantially renovated properties. If you are buying an established home you may still qualify for stamp duty relief under the First Home Buyer Assistance Scheme, provided the property value falls within the threshold that applies when you buy. Check the current thresholds with Revenue NSW.
How much deposit do I need to buy my first home?
Traditionally lenders look for a 20% deposit to avoid Lenders Mortgage Insurance. The Australian Government’s low-deposit scheme lets eligible first home buyers get in with far less and skip the LMI premium, which can bring a purchase forward by years. The exact deposit you need depends on the lender, the property and the scheme settings in force when you apply – that is one of the first things we work out with you.
Are first home buyer grants taxable income?
No. The First Home Owner Grant is not treated as assessable income for tax purposes and does not need to be declared in your tax return.
Can I use more than one scheme at the same time?
Often, yes. Stamp duty relief, the First Home Owner Grant, the First Home Super Saver Scheme and the Australian Government’s low-deposit scheme each have their own eligibility rules, and many first home buyers qualify for more than one. We map out which combination you are eligible for before you start looking.
Get Your Free First Home Buyer Assessment Today
Ready to claim the first home buyer grants you are entitled to and take the first step toward owning your first home? Contact SB Finance today for a free, no-obligation first home buyer assessment. Our specialist home loan brokers understand every one of these schemes, are based in the Hills District, and understand the local market, the available government assistance schemes, and how to structure applications that get approved. With 300+ five-star Google reviews, we’re the most trusted finance broker in the Hills District — and we’d love to help you get into your first home sooner.
