The Answer
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First home buyer grants, stamp duty, settlement process, and every step from pre-approval to moving in — for every state.
Choose Your State
New South WalesGuide for NSW
VictoriaGuide for VIC
QueenslandGuide for QLD
Western AustraliaGuide for WA
South AustraliaGuide for SA
TasmaniaGuide for TAS
Northern TerritoryGuide for NT
Australian Capital TerritoryGuide for ACT
First Home Buyer Benefits — NSW
| Benefit | Amount / Detail |
|---|---|
| First Home Owner Grant | $10,000 |
| Value cap | $750,000 |
| Stamp duty concession | Full exemption up to $800,000 |
| First Home Guarantee (federal) | 5% deposit, no LMI — unlimited places, no income caps |
| Help to Buy (federal) | Government co-owns up to 30–40% — as little as 2% deposit |
| FHSSS | Withdraw up to $50,000 from super for deposit |
The Home Buying Checklist — NSW
Before You Start
- Check your borrowing capacity — use a calculator or talk to a broker
- Get pre-approval from your lender (valid 3–6 months)
- Save your deposit — most lenders want 5–20% of the purchase price
- Budget for upfront costs: stamp duty, legal fees ($1,500–$3,000), building/pest inspection ($500–$800), loan fees
Finding and Buying
- Search, inspect, and shortlist properties
- Get a building and pest inspection before committing
- Make an offer or bid at auction — know your limit and stick to it
- Exchange contracts — you'll pay a deposit (usually 10% or 0.25% at auction)
- Engage a conveyancer or solicitor for the legal work
Settlement and Beyond
- Your lender finalises the loan — formal approval
- Pay stamp duty (your conveyancer handles this)
- Do a final inspection before settlement
- Settlement day — keys are yours. Update your address with the ATO, Medicare, banks, electoral roll
- Set up utilities, internet, contents insurance, and council rates
Costs Beyond the Purchase Price
Budget an extra 5–8% of the purchase price for upfront costs. On a $700,000 home in NSW, that's roughly $35,000–$56,000 on top of your deposit — covering stamp duty, legal fees, inspections, loan fees, and moving costs.
Frequently Asked Questions
How much is stamp duty in NSW?
For first home buyers: Full exemption up to $800,000. For other buyers, stamp duty is progressive — use a stamp duty calculator for your exact figure.
How much is the first home buyer grant in NSW?
The FHOG in New South Wales is $10,000 for new homes (value cap: $750,000). This is for new homes only — established homes don't qualify for the grant but may get stamp duty concessions.
How much deposit do I need?
With the First Home Guarantee, as little as 5% ($35,000 on a $700,000 home) with no LMI. With Help to Buy, as little as 2%. Without government schemes, most lenders want 20% to avoid LMI.
What Changed
Apr 2026
Content verified for all states