First Home Buyer Benefits — NT
| Benefit | Amount / Detail |
|---|---|
| HomeGrown Territory Grant | $50,000 |
| Value cap | No cap |
| Stamp duty concession | No stamp duty on established homes up to $650,000 for first home buyers |
| 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 — NT
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 NT, 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 NT?
For first home buyers: No stamp duty on established homes up to $650,000 for first home buyers. 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 NT?
The NT HomeGrown Territory Grant gives first home buyers $50,000 to buy or build a new home, with no price cap — it replaced the old $10,000 First Home Owner Grant. Buyers who are not first-home buyers can claim the $30,000 FreshStart New Home Grant instead. You cannot claim both. 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.