Grants and schemes in New South Wales

New South Wales runs two programs for first home buyers, and the Commonwealth adds two that operate here. The state's are the First Home Owner (New Homes) Grant and the First Home Buyers Assistance Scheme, the duty relief covered on the stamp duty page. The federal ones are the 5% Deposit Scheme and Help to Buy. Every one has an eligibility test that this page can summarise but not apply.

First Home Owner Grant

The First Home Owner Grant in NSW is $10,000 for eligible first home buyers building or buying a newly built home. It is only for a home no one has lived in before: newly built, bought off the plan or just substantially renovated.

A newly built residence, including off the plan, is capped at $600,000, and so is a substantially renovated home. A home and land package is capped at $750,000, covering the land, the building contract and any construction changes.

Each applicant must be a natural person aged at least 18, and at least one must be an Australian citizen or permanent resident. Applicants are not eligible if they or their spouse held a relevant interest in residential property before 1 July 2000, even if never lived in. The test for later ownership is an open item on the NSW hub. For contracts signed on or after 1 July 2023, the buyer moves in within 12 months of settlement and stays 12 continuous months. The application is lodged within 12 months of settlement or completion, through Service NSW.

State schemes

The NSW Government lists two key programs: the assistance scheme and the grant. The assistance scheme exempts eligible buyers of a new or existing home from duty up to $800,000, with a concession to under $1,000,000 and lower thresholds for vacant land. The Shared Equity Home Buyer Helper pilot closed on 30 June 2024. Existing participants stay supported by Revenue NSW for as long as they own the home. First Home Buyer Choice, the annual property tax option, is listed by Revenue NSW as a previous scheme; its closure date was not visible from this environment. No other open NSW scheme was confirmed.

Federal schemes in New South Wales

The 5% Deposit Scheme, formerly the First Home Guarantee, is designed to let an eligible buyer purchase with a 5% deposit without paying LMI. From 1 October 2025 it has unlimited places, no income caps and increased property price caps. The NSW cap after that date was not confirmed from this environment. Housing Australia's price caps page and postcode search tool give the figure for a location, and the participating lender confirms it. Under the earlier structure the capital-city cap also applied to Newcastle and Lake Macquarie and the Illawarra; whether that carries over is not confirmed.

Help to Buy is the shared equity scheme, open to applications since 5 December 2025. Housing Australia contributes up to 40% of the purchase price for a new home, or 30% for an existing home, to eligible applicants who apply through a participating lender. Price caps vary by location, and the scheme operates in states that have passed enabling legislation and in both territories. Whether NSW has, and the NSW price and income caps, were not confirmed from this environment.

How they combine

Duty relief, the grant and a deposit scheme are three separate tests run by two governments. A buyer can be eligible for the duty exemption on an established home and ineligible for the grant because it is not new.

The grant and the duty relief reduce the cash needed at settlement, so the same savings make a larger deposit percentage. A deposit scheme works on the other side, letting the buyer borrow at a high LVR without the LMI premium a lender would usually charge above 80%. The LMI calculator shows that premium at different deposits; the deposit timeline calculator shows how long the 5%, 10% and 20% marks take.

The tests that catch people out

• Prior ownership by a spouse. Both state programs test the spouse or partner too, and the duty scheme looks at any residential land in Australia at any time.
• Moving in on time. Both require moving in within 12 months and staying 12 continuous months.
• Contract dates. The duty thresholds apply to contracts from 1 July 2023; so does the grant's residence rule.
• Citizenship. At least one buyer must be a citizen or permanent resident for both.
• A co-buyer who is not eligible. The tests apply to each purchaser and their spouse, and companies and trustees cannot apply; a co-buyer who has owned before is a question for Revenue NSW before exchange.
• What counts as new. A renovated home qualifies only if extensively rebuilt, not lived in since and not sold since.