First Home Buyer Schemes in NSW: What Help Is Out There

Buying your first home in NSW comes with a genuine leg-up from both the federal and state governments, if you know where to look. The catch is that the schemes have their own rules, their own property price limits, and their own eligibility tests, and those settings get updated fairly often. So think of this as a map of what exists. For the exact numbers that apply to you today, we should check together, because I don't want you planning around a threshold that's changed.

The First Home Guarantee

This is the federal one, and it's the big lever for a lot of buyers. Under the guarantee, eligible first home buyers may be able to buy with a deposit as low as 5 percent and pay no Lenders Mortgage Insurance, because the government guarantees the gap between your deposit and the usual 20 percent. In late 2025 the scheme was widened significantly, with the place limits and income caps removed and the property price caps lifted, including a much higher cap for Sydney. Because those settings can move again, the safe way to use this is to check your eligibility and the current cap for your area before you commit.

First home buyer stamp duty help

Stamp duty (transfer duty) is one of the biggest upfront costs of buying, so NSW concessions for first home buyers are a big deal. Under the state scheme, eligible first home buyers may pay no transfer duty on homes up to a certain value, and a reduced rate on homes a bit above that, with the concession phasing out as the price climbs. There are separate limits for vacant land if you're building. The thresholds have been set for a while but they do get reviewed, so confirm where your price sits rather than assume. Getting this right can be the difference of tens of thousands of dollars.

The First Home Owner Grant

This is a one-off cash grant for buyers of a brand new home, not established properties. It's aimed at new builds, off-the-plan purchases and substantially renovated homes, and it has its own property value cap that sits lower than the other schemes. If you're looking at a new build or a house-and-land package, it's worth asking whether you qualify, because it stacks on top of the other help. If you're buying an existing home, this one won't apply, but the guarantee and stamp duty concessions still might.

How the schemes fit together

• The First Home Guarantee helps with your deposit and removes LMI. Works on new or established homes within the price cap.
• Stamp duty concessions cut or remove one of your biggest upfront costs. Works on new or established homes within the thresholds.
• The First Home Owner Grant adds a cash grant, but only for eligible new homes.
• Depending on what you buy, you may be able to use more than one. That's exactly the kind of thing worth mapping out before you start inspecting.

Pulling all of this together is a big part of what I do for first home buyers. I'll work out which schemes you may be eligible for, how they interact with your deposit and borrowing power, and which lenders play nicely with each one. Start with the first home buyer page, and it's worth understanding your borrowing power and your deposit options alongside it.