Skip to main content Skip to footer

First Home Buyers Schemes NSW | Updates Worth Noting

First Home Buyer Scheme  Grant 1

Home Guarantee Scheme – Overarching Scheme

Under this scheme part of an eligible owner occupier home buyer’s home loan will be guaranteed. This has been expanded to 50,000 places a year. (this is more than double what’s currently available). For singles to be eligible for this scheme they must earn $125,000pa. For couples under $200,000pa. Those eligible under this scheme can be guaranteed up to a 20% deposit.

First Home Super Savers Scheme (FHSSS)

This scheme allows Australians to boost their savings for a first home by building a deposit inside superannuation, giving them a tax cut. From 01/07/2022, the maximum amount of voluntary contributions that can be released under the FHSSS will be increased from $30,000 to $50,000. This scheme will now be available to 35,000 guarantees ( which is up from 15,000 last year). This scheme also allows FHB  (who earn under $800,000 in Sydney) to purchase a new or existing home (including off-the-plan if lived in for at least 6months) with a deposit as low as 5%. The government guarantees the 15% to take the deposit up to 20%.

The Family Home Guarantee

This government scheme allows single parents to purchase a home with a 2% deposit. Any deposit under 10% requires Lenders Mortgage Insurance (LMI) and this will be covered by the government. This scheme is available for 5000 places.

Stamp Duty

The stamp duty scheme allows for no stamp duty to be paid on dwellings <$650,000. Concessional stamp duty will be applicable for dwellings purchased between $650,001 - $800,000.

NSW First Home Owner Grant

This grant offer $10,000 towards your first home. However the home must be <$600,000, and be either newly constructed or ‘substantially renovated’. If you plan to build a new home from scratch, you can still be eligible for the FHOG as long as your land plus the home you build have a combined value of less than $750,000.


Looking for your first home, your search starts here!