Are you a first home buyer in New South Wales (NSW) and wondering how much the First Home Buyers Grant is? You’ve come to the right place! In this blog post, we’ll be discussing the First Home Buyers Grant NSW and how much you can expect to receive.
The First Home Buyers Grant (FHBG) is a government initiative that helps first home buyers get into the property market. It’s designed to help reduce the financial burden of buying a home and make it easier for first home buyers to get into the market.
The FHBG is available to eligible first home buyers in NSW who are buying or building a new home. The grant is available for both established and new homes, and can be used to purchase a house, unit, townhouse, or apartment.
So, how much is the First Home Buyers Grant NSW? The amount of the grant is dependent on the date of your contract. If your contract was signed on or after 1 January 2020, you can receive up to $10,000. If your contract was signed before 1 January 2020, you can receive up to $15,000.
In addition to the FHBG, there are other grants and concessions available to first home buyers in NSW. These include the First Home Owner Grant, the First Home Loan Deposit Scheme, and stamp duty concessions.
The First Home Owner Grant is a one-off payment of $10,000 to eligible first home buyers in NSW. It’s designed to help reduce the cost of buying a home. To be eligible for the grant, you must be an Australian citizen or permanent resident, and you must be buying or building a new home.
The First Home Loan Deposit Scheme is a government initiative that helps first home buyers get into the property market. It’s designed to help reduce the financial burden of buying a home and make it easier for first home buyers to get into the market. Under the scheme, eligible first home buyers can receive a loan with a deposit of as little as 5%.
Stamp duty concessions are available to eligible first home buyers in NSW. The amount of the concession depends on the purchase price of the property. For properties up to $650,000, the concession is $24,740. For properties between $650,000 and $800,000, the concession is $17,485. For properties over $800,000, the concession is $11,230.
We hope this blog post has been helpful in answering your question, “How much is the First Home Buyers Grant NSW?” If you have any further questions about the First Home Buyers Grant or any other grants or concessions available to first home buyers in NSW, The Home Loan Partners would love to help. We’re an experienced team of mortgage brokers who are passionate about helping first home buyers get into the property market. We’ll take the time to understand your needs and provide you with tailored advice to help you get the best home loan for your situation. Get in touch with us today to find out how we can help you get into your first home.