First Home Owner Grant (New Homes) for eligible transactions dated on or after 1 January 2016
The $10,000 First Home Owner Grant (New Homes) is available where the eligible transaction commencement date is on or after 1 January 2016 and the eligible transaction is for the purchase or construction of a new home.
The First Home Owner Grant (New Homes) Scheme is fully funded by the NSW Government and administered by us. The scheme was established to assist eligible first home owners to purchase a new home or build their home by offering a grant. The grant applies to new homes only and does not apply to the purchase of an established home, vacant land, business premises or a holiday house.
Your eligibility is determined on the facts and circumstances as at the commencement date of the eligible transaction. This is the date of the contract to purchase a new home or, contract to build a home or, for an owner builder, the date the foundations commenced to be laid.
To qualify for the First Home Owner Grant (New Homes) you must meet the following eligibility criteria:
Each applicant is a natural person and not a company or trust.
At least 1 applicant is a permanent resident or Australian citizen.
Each applicant must be at least 18 years of age.
All applicants and/or their spouse/de facto have not owned a residential property, jointly, separately or with some other person, in any State or Territory of Australia before 1 July 2000.
All applicants and/or their spouse/de facto have not previously owned a residential property jointly, separately or with some other person in any State or Territory of Australia, and occupied that property for a continuous period of at least 6 months.
Each applicant has entered into a contract for the purchase of a new home or signed a contract to build a home on or after 1 January 2016. In the case of an owner builder, laying of the foundations commenced on or after 1 January 2016.
The total value of the property does not exceed the cap amount of $750,000.
This is the first time an applicant and/or their spouse/de facto will receive a first home owner grant in any State or Territory. If a grant was received but later paid back together with any penalty, you may be entitled to reapply for the grant.
At least 1 applicant will occupy the home as their principal place of residence for a continuous period of 6 months, commencing within 12 months from the date they are registered on title, if purchasing a new home or if building a home, the construction completion date. Where an applicant was a member of the permanent forces of the Australian Defence Force and all applicants were enrolled on the NSW electoral roll, on the commencement date of the eligible transaction, then all applicants are exempt from the residence requirement.
What is a new home?
A new home is a home that has not been previously occupied or sold as a place of residence and includes a home that has been substantially renovated and a home built to replace demolished premises.
- A home that has been occupied, including by the builder, a tenant or any other occupant is not considered a new home.
- Where the home is being purchased, it must be the first sale of that home.
How to apply for the First Home Owner Grant (New Homes)
You can apply for the First Home Owner Grant (New Homes) through your financial institution or us. Applications lodged with financial institutions will have the grant available for settlement or for the first draw down on contracts to build.
Applications can only be lodged with us after completion of construction if building or, if purchasing a new home, after settlement and you are registered on title.
Applications must be lodged within 12 months of completion of construction if building or if purchasing a new home after settlement and you are registered on title.
You can print an application form for the First Home Owner Grant (New Homes), phone and ask to have an application posted, or send an email. Forms are also available from your solicitor or conveyancer.
There are substantial penalties for knowingly making false or misleading statements in connection with an application for first home benefits.
We conduct investigations and compliance checks to ensure the grant is given only to those applicants who are entitled to receive it. We audit applications with current and historical data held by other State and Territory agencies and commercial organisations.
For more information about first home benefits, contact us.