Government Grants

First Home Buyers Existing or New Homes

The NSW Government will introduced a comprehensive package for first home buyers from 1 July 2017. This will include the following;

  • Abolish stamp duty on all homes up to $650,00.00
  • Give stamp duty relief for homes up to $800,000.00
  • Provide a $10,000.00 grant for builders of new homes up to $750,000.00 and purchasers of new homes up to $600,000.00.
  • abolish insurance duty on lenders mortgage insurance.
  • ensure foreign investors pay higher duties and land taxes.
  • no longer allow investors to defer paying stamp duty on off the plan purchasers.
First Home New Home (New Homes) Scheme.

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.


Contact Detials

Phone: 02 9181 2207                   Email: gc@costilegal.com.au              Address: 2/66 Victoria Road, Drummoyne NSW 2047