Entering the property market is both exciting and challenging for First Home Buyers. If you haven’t owned a home before in Australia and are looking to purchase one there is no time quite like now to do so. With Spring upon us, there will be lots of people looking to sell their homes with the warmer weather approaching and the NSW Government is continuing to help ease the cost of living and can assist you with purchasing your first home.
If your home is newly constructed and has a total value of less than $600,000 or if the land and building you intend to build have a combined value of less than $750,000 you may be eligible to receive a $10,000 grant under the First Home Owner Grant (New Homes) scheme.
Eligible purchasers may be eligible for exemptions or concessions on stamp duty under the First Home Buyers Assistance Scheme if the value of the home purchased is between $650,000-$800,000 or vacant land purchased is between $350,000 – $450,000.