First Home & New Home Grants
First Home – New Home scheme
Eligible purchaser buying a vacant block of residential land to build their home will pay no duty on vacant land valued up to $350,000, and will receive concessions for vacant land valued between $350,000 and $450, 000.
These rates apply from 1 July 2012. For more info on eligibility click here.
First Home Owner Grant (New Homes) scheme
The Scheme applies to new homes only and will reduce to $10,000 on 1 January 2016.
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
New Home Grant scheme
The New South Wales New Home Grant scheme was introduced on 1 July 2012 to stimulate the construction of new homes.
The scheme provides a grant of $5,000 towards the purchase of new homes, homes off the plan and vacant land on which a new home will be built.
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