Search
  • Powerloans

First Home Buyer Grants

What is the First Home Owner Grant?


A $10,000 First Home Owner Grant (FHOG) is available when you buy or build your first new home.

Your first new home can be a house, townhouse, apartment, unit or similar that is newly built, purchased off the plan or substantially renovated.


How much can I spend?


If you purchase a newly built house, townhouse, apartment, unit or similar the purchase price must not exceed $600,000.

If you purchase vacant land and sign a building contract with a builder then we add the value of the vacant land plus the value of the building contract plus the cost of any building variations done together. The total combined cost must not exceed $750,000. If you purchase a home which was substantially renovated by the seller, the purchase price must not exceed $600,000.

You may be eligible for the grant if:

  • most of the home was removed or replaced

  • the seller, builder or a tenant has not lived in the home prior to, during or after renovations

  • it is the first time the home has been sold since completion of renovations.

This means the first sale of a property will not be a new home if the person who built it lived in it, leased it out or used it for short-term accommodation.

​The First Home Owners Grant may be paid in addition to other exemptions or concessions for eligible homebuyers.


How to apply

You can apply through an approved agent such as Powerloans or directly with Revenue NSW, you’ll need to complete the First Home Owner Grant (New Homes) Application form. Information compiled through

https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/new-homes


11 views0 comments