Does the First Home Owners Grant still exist?

first home buyers grant NSW

The First Home Owners Grant was introduced to offset the cost of the GST in home prices – obviously this only applied to new homes being built so its somewhat appropriate that its only available for new homes today (appropriate perhaps, but not helpful).

The First Home benefits vary from state to state, in NSW first home owners could receive a stamp duty exemption for new homes or vacant land, potentially saving up to $20,240, and a $10,000 grant.

Quite attractive & a fantastic boost to start you off, if you can get it.

The reality is that the for most of my first home buyers the price of land and building has skipped out of range in the majority of the Sydney Metro area, with an average price for land well over $400,000 and construction of a basic but great 4 bedroom home sitting around $300,000. For most of my buyers spending $700,000 on their first home is out of the question, and even if it was affordable the deposit required and the value it presents doesn’t justify the grant.