NSW first home buyers
NSW First Home Owner Grant
The NSW First Home Owner Grant is a one-off payment from the New South Wales Government to eligible first home buyers who buy or build a new home in the state. It is paid once per lifetime and is not available on established homes at any price.
Your Mortgage Broker Beverly Hills is a mortgage broking business based in Beverly Hills, and this page explains the grant in plain terms for local buyers. It covers what the grant is worth, who qualifies, which properties are eligible, how it combines with duty relief, and how to apply.
What It Is Worth Right Now
The confirmed current figure is $10,000, one-off, and the 2026-27 NSW Budget, handed down on 23 June 2026, made no changes to the amount or the caps. That stability matters, because plenty of third-party articles still quote a $30,000 figure that has not applied for years and cannot be verified against any current government source. If you read a larger number somewhere, it is outdated, and planning a deposit around it will leave you short.
The grant also arrives at different moments depending on how you buy, which catches people out. A completed home is generally paid at settlement, an off-the-plan purchase is paid at settlement which can sit well beyond the contract date, and a construction contract is typically paid once the first progress payment goes to the builder. Knowing when the money lands matters as much as knowing the amount, because many buyers plan to use it towards costs that fall due earlier.
Who Qualifies
Eligibility is assessed on the applicants, not just the property, and Revenue NSW applies each test strictly:
First home status
Citizenship
Natural persons
One per lifetime
Age and residency
The new-home test
Which Properties It Covers
The grant and the duty scheme draw their lines in different places, so it pays to see both side by side:
| Property type | Grant eligibility | Transfer duty relief |
|---|---|---|
| New home, house and land under one contract, up to $600,000 | Eligible for the $10,000 grant | Full exemption up to $800,000, concession to $1,000,000 |
| Vacant land plus separate building contract, combined up to $750,000 | Eligible for the $10,000 grant | Land exempt up to $350,000, concession to $450,000 |
| Established home, previously lived in or sold | Not eligible at any price | Full exemption up to $800,000, concession to $1,000,000 |
| New home over the grant caps | Not eligible for the grant | Exemption or concession still applies within the duty thresholds |
The duty figures come from the First Home Buyers Assistance Scheme, which is a separate scheme with thresholds effective from 1 July 2023. A purchase under both the grant cap and the duty threshold can receive the $10,000 and the duty exemption together, which is where the combined value is largest.
Why The Rule Bites Here
Beverly Hills is exactly the kind of suburb where the grant's fine print changes a buyer's plans, because the housing stock and the eligibility rules point in opposite directions.
The Stock Is Old
The suburb is dominated by freestanding red-brick-and-tile bungalows built in the postwar decades, with semis and medium-density flats along King Georges Road and Stoney Creek Road. Almost none of that existing housing stock can pass the new-home test, because nearly all of it has been lived in before.
New Builds Are Scarce
Dwelling approvals across the suburb have totalled just 291 over the last five years, and the new stock that does arrive is concentrated in the flat and apartment segment, which makes up about sixteen per cent of local dwellings. Grant-eligible purchases here are almost entirely off-the-plan or newly completed units, not houses.
The Caps Sit Below The Market
The $600,000 cap for a home and land under one contract sits below what most freestanding houses in this area transact for, and the suburb's median household mortgage repayment of about $2,500 a month reflects a market of established homes well above that line. The grant is therefore not a lever most house hunters here can pull.
What It Means For You
A local buyer who wants the grant has three realistic paths: an off-the-plan or newly completed unit in the suburb, a knockdown-and-rebuild using the land-plus-construction route with its $750,000 combined cap, or looking further out where new house-and-land packages sit under the cap. Choosing among those is a lending conversation as much as a property one, and our construction loans and first home buyer loans pages set out each path.
How It Stacks With Duty Relief
Here is the part most buyers get backwards: the scheme with the wider reach is the one that is not a cash grant.
The duty exemption covers established homes
The two schemes stack
An established home gets one, not both
Land has its own thresholds
The thresholds are current
For a buyer targeting an established postwar bungalow here, the duty concession is often worth more than the grant would have been, and it is the one to model into the budget first.
How it works
How To Apply And When Money Arrives
- 1
Lodging The Application
Applications are lodged either through an approved bank or lender acting as agent for Revenue NSW, or directly to Revenue NSW where no approved agent is involved. Lodging through your lender at or before settlement is usually the smoother route, because the same file supports the loan.
- 2
Documents You Need
Expect to provide identity documents, the contract of sale or building contract, evidence of citizenship or permanent residency for at least one applicant, and proof that the property meets the new-home test. Incomplete supporting documents at lodgement are a common cause of delay.
- 3
When A Completed Home Pays
For a home already built and ready to occupy, the grant is generally paid at settlement. Off-the-plan purchases also pay at settlement, which can sit well beyond the contract date depending on developer completion.
- 4
When A Build Pays
Under a construction contract, the grant is typically paid once the first progress payment is made to the builder, which means the money arrives months before completion. Budgeting for the grant should therefore match the payment stage, not the contract date.
Worth knowing early
What Gets An Application Knocked Back
Revenue NSW knocks back applications for reasons that are almost always avoidable, and a refusal late in a purchase is an expensive surprise:
- Wrong property type Assuming any first home qualifies, rather than checking the new-home test, is the most common failure. An established bungalow in Beverly Hills fails it at any price.
- Missing the occupancy window For contracts from 1 July 2023, you must move in within 12 months of settlement or completion and live there continuously for at least 12 months. Renting it out instead, or moving out early, puts the grant at risk.
- Prior ownership, anywhere A brief or interstate property owned by an applicant or their partner, even years ago, disqualifies the application.
- Applying as a company or trust Only natural persons qualify, so a purchase structured through an entity loses the grant entirely.
- Marginally exceeding the cap A contract price even slightly over $600,000, or $750,000 combined, disqualifies the whole application. The cap does not reduce the grant, it removes it.
- Incomplete documents at lodgement Missing identity, contract or citizenship evidence stalls the payment, sometimes past the date you had planned to use it.
If a family guarantee is part of your deposit plan, note that the guarantor's prior ownership does not affect the first home test, which applies to the applicants and their partners only. Our guarantor and low deposit page covers how that structure works alongside a grant, and anyone considering a guarantee should get independent legal and financial advice before signing.
Where we work
Areas We Service
Your Mortgage Broker Beverly Hills is based in Beverly Hills and helps first home buyers across the St George district, including Narwee, Roselands, Kingsgrove, Hurstville, Penshurst and Mortdale. You can read more about who we are and how we work on the About page.
Questions answered
Frequently Asked Questions
How much is the NSW First Home Owner Grant worth?
The grant is a one-off payment of $10,000 for an eligible new home purchase or build in New South Wales. Some older articles still quote a larger figure that no longer applies; the confirmed amount is $10,000.
Can I get the grant on an established home?
No. A home that has been previously lived in or sold is not eligible for the grant at any price. The duty exemption is different, because it does cover established homes under its own thresholds.
What is the property price cap for the grant?
The cap is $600,000 when the home and land are bought under one contract, or a combined $750,000 for vacant land plus a separate building contract. Going even slightly over disqualifies the application entirely.
Do I have to live in the property to keep the grant?
Yes. For contracts from 1 July 2023 you must move in within 12 months of settlement or completion and live there continuously as your main residence for at least 12 months. Moving out early can trigger a clawback.
Is the grant different from stamp duty relief?
Yes, they are separate schemes. The grant is $10,000 for new homes only, while the First Home Buyers Assistance Scheme exempts or reduces transfer duty on both new and established homes under its own thresholds.
How long does the grant take to arrive?
It depends on the purchase stage. For a completed home it is generally paid at settlement, while a build is typically paid once the first progress payment is made to the builder, so timing varies with the contract.
Mortgage broker for Beverly Hills and the suburbs around it
Get In Touch
Before you commit to a property, check which schemes your purchase actually triggers, because the grant and the duty exemption follow different rules and the difference is real money. Call (02) 9072 0640 for a conversation that costs nothing, or read more about our first home buyer process. We publish our fees, our process and our timelines, and lenders pay commission on settlement, so most borrowers pay nothing for the advice.