Financial support for first home buyers

If you’re buying a home, or vacant land to build a home for the first time, you may be eligible for NSW and Federal Government financial assistance.

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First Home Buyer Assistance Scheme

Eligible first home buyers can pay less or no transfer duty on their first home, depending on the value of the purchase.

This scheme includes:

buying an existing home
buying a new home
buying vacant land on which you intend to build.

Find out whether you are eligible for the First Home Buyer Assistance Scheme at Revenue NSW.

First Home Owner (New Homes) Grant

If you're buying your first home, and it's:

newly built
off the plan
substantially renovated, or
vacant land to be built on

you may be eligible for a $10,000 grant to help, depending on the value of the purchase.

Learn more about the First Home Owner (New Homes) Grant at Revenue NSW.

Shared Equity Home Buyer Helper

Help for eligible home buyers to buy their own home with as little as 2% deposit.

The NSW Government contributes a part of the purchase price in exchange for an equal interest in the property. It’s open to:

single parents of a dependent child or children
single people aged 50 years or older
first home buyer key workers who are nurses, midwives, paramedics, teachers, early childhood educators or police officers.

Find out more about eligibility and how to apply for the Shared Equity Home Buyer Helper at Revenue NSW.

First Home Buyer Choice

From 1 July 2023, First Home Buyer Choice (FHBC) will no longer be available. Eligible first home buyers who exchanged contracts on or before 30 June 2023 will have until settlement to opt in to FHBC. Those who have already opted in to FHBC won’t be affected at all.

Find out more about First Home Buyer Choice at Revenue NSW.

First Home Super Saver Scheme

This scheme lets you use your superannuation fund to save for your home, which may have tax benefits.

You can apply to use up to $15,000 (of your voluntary contributions only) from any individual financial year, capped at $50,000 in total across all years. Other conditions apply.

Learn more about the First Home Super Saver Scheme at the Australian Taxation Office.

The Home Guarantee Scheme

Eligible buyers can purchase or build a new home with a deposit of as little as 5%, or as little as 2% for eligible single parents, without the need for lenders' mortgage insurance.

Learn more about the Home Guarantee Scheme at the National Housing Finance and Investment Corporation.

If you need to rent while saving for a home deposit

This guide has information about finding somewhere to rent, your rights and responsibilities as a tenant, getting help with costs, and what's involved when moving out of the property (hopefully into your new home).

Learn more about renting in NSW