First Home Buyers

Buying your first home is exciting, but there can be a lot to take in along the way. From understanding the Contract and organising inspections to finance, stamp duty and settlement, it’s completely normal to have plenty of questions.

The good news is that eligible first home buyers in NSW may be able to access government assistance, including stamp duty exemptions or concessions and, in some circumstances, the First Home Owner Grant.

At New Chapter Conveyancing, we’ll guide you through the conveyancing process, explain things in plain English and help make sure you understand what needs to happen and when.

First Home Buyers Assistance Scheme

If you're an eligible first home buyer, you may be entitled to an exemption or concession on the stamp duty payable when purchasing your first home.

New or Existing Homes

• $800,000 or less – you may be eligible for a full stamp duty exemption

• More than $800,000 but less than $1 million – you may be eligible for a concessional rate

Vacant Land

• $350,000 or less – you may be eligible for a full stamp duty exemption
• More than $350,000 but less than $450,000 – you may be eligible for a concessional rate

Eligibility requirements apply, so it's important to check whether the scheme applies to your individual circumstances.

Check if you're eligible for the First Home Buyer Assistance

First Home Owner Grant

Buying or building a brand-new home?

Eligible first home buyers may also be entitled to the $10,000 First Home Owner Grant when purchasing or building a new home.

Different eligibility requirements and property value limits apply, and the grant is not available for established homes.

Learn more about the First Home Owner Grant

Buy your First Home with a 5% deposit

Saving for your first home? The Australian Government 5% Deposit Scheme may help you buy sooner, with a deposit as low

as 5% and without paying Lenders Mortgage Insurance (LMI).

The Government guarantees part of your home loan to your lender. It does not contribute towards your deposit or repayments — you remain responsible for your loan and purchase costs.

Could you be eligible?

The Scheme has no income caps and unlimited places. Eligibility requirements include:

Being an Australian citizen or permanent resident aged 18 or over.
Being a first home buyer, or having not owned property or land in Australia in the past 10 years.
Having a minimum 5% deposit.
Purchasing within the property price cap for your location.
Living in the property as your home.

You must also meet a participating lender’s lending requirements. Applications are made through a participating lender, who will confirm your eligibility and borrowing capacity.

Eligible single parents and legal guardians may qualify with a deposit as low as 2%.

Explore the 5% Deposit Scheme

Please note: Links on this page are provided for your convenience and will take you to an external website. New Chapter Conveyancing does not control or maintain the information on external websites. Government grants, concessions, eligibility requirements and thresholds may change from time to time. Please refer to Revenue NSW for the most current information and contact us if you would like to discuss how these may apply to your purchase.