First Home Owners Grant $10,000
If you are a first home buyer and you are buying or building a new home, you may qualify for a $10,000 grant under the First Home Owner Grant (New Homes) scheme if your purchase date was on or after 1 January 2016.
You can make a claim for the First Home Owner Grant if you purchase:
A newly constructed home or a substantially renovated home has a total value less than $600,000
land for building and any dwelling you intend to build has a combined value of less than $750,000.
To receive the grant when you buy your home:
you must be an individual, not a company or trust
you must be over 18
you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
your purchase date must be on or after 1 January 2016.
You will NOT be eligible for the First Home Owner Grant if you or your spouse:
have previously owned or co-owned a home in Australia or
have received an Australian first home owner grant.
Part of the eligibility requirements are that at least one of the purchasers must move into the new home within 12 months after buying the property, and live there for at least six continuous months.
If you’re buying land and building a new home, you must move in within 12 months after construction is complete, and live there for at least six continuous months.
If you’re a member of the Australian Defence Force you may be exempt from the six-month residence requirement, provided all buyers are on the New South Wales electoral roll.
If you’re buying an existing home, you can apply for the grant if:
this is the first time the house has been sold; and
the house has never been lived in before you move in, including by the builder or a tenant.
Your home is also considered new if it has been substantially renovated before you buy it. You might be eligible for the grant if:
most or all of the house was removed or replaced
this is the first time the home has been sold after those renovations
it hasn’t been lived in since being renovated, including by the builder or a tenant.
Revenue NSW will require the following documents to support your claim:
a copy of the contract, dated and signed by the seller
proof that this is the first time the home has been sold and that it has never been occupied – usually a statement from the seller or their legal representative.
If you’re building a new home, you must provide documents such as council approvals, building contracts or occupation certificates, and evidence of the land value.
The grant will need to be applied for through your lender at the time of at the time of completing your loan application.
