The NSW Government will introduced a comprehensive package for first home buyers from 1 July 2017. This will include the following;
The First Home Owner Grant (New Homes) scheme was established to assist eligible first home owners to purchase a new home or build their home by offering a grant.
The grant amount is determined by the date of the eligible transaction. This is the date of the contract to purchase a new home or contract to build a home. For an owner builder, the eligible date is when the building work commences. For eligible transactions made on or after 1 January 2016, the grant amount is $10,000.
A new home is a home that has not been previously occupied or sold as a place of residence and includes a home that has been substantially renovated and a home built to replace demolished premises.
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