First Home Owner Grant (FHOG) NSW

The FHOG in NSW is worth $10,000 however conditions apply. To be eligible, your first home must have a total value below $600,000, and be either newly constructed or ‘substantially renovated’.  It can be a house, townhouse, apartment, unit, or other type of self-contained dwelling that meets planning standards.

If you purchase land and then sign a contact with a builder, the two costs will be added together and cannot exceed $750,000. It is important to note that a property will not be classed as a new home for the purpose of the grant if the person who built it has lived in it, leased it out, or used it for short-term accommodation in any capacity. 

To be eligible for the First Home Owners Grant, you must: 

• Be at least 18 years old 
• Be a first home-buyer as a person, not as a company or trust 
• Be an Australian citizen or permanent resident, or applying with someone who is 
• Move into the property as your principal place of residence within 12 months of the construction or purchase of your home (different rules apply for contacts signed before 1 July 2023) 
• Reside in your property for 12 continuous months after first moving in 

Applying for the First Home Owner Grant is easy, and your Mortgage Choice broker can guide you through the paperwork. If you require the grant for your first drawdown, progress payment or settlement, you must lodge your application with the approved agent who is proving your finance. 

Yes, you can use your $10,000 towards your deposit but it will not cover the full amount needed. You can speak to your local mortgage choice broker to find out more but usually, you will still need between 5% and 10%.  

If you are wanting to avoid paying a deposit altogether then you should consider finding a guarantor. They can help provide security for your loan.   

There are many different ways you can go about buying your first home. The best way is to get in touch with a mortgage broker, who can show you the state grants that you're eligible for and can help with your home loan application. Check out our Steps to Buying your First Home for more information on how to buy your first home.