Step-by-Step Guide to Applying for the First Home Buyer NSW Grant

Buying your first home is one of life’s biggest milestones. In New South Wales, the First Home Buyer NSW Grant can make this dream more achievable by providing a $10,000 boost towards your purchase or build. This step-by-step guide will walk you through everything you need to know about the first home buyer NSW grant, from eligibility to the application process, so you can apply with confidence and avoid common mistakes.

What is the First Home Buyer NSW Grant?

The first home buyer NSW grant is a government initiative that provides eligible first-time buyers with a one-off payment of $10,000. This grant is designed to help you buy a brand-new home, build a new property, or purchase a substantially renovated property in NSW. The grant cannot be used for established homes that have already been lived in, unless they have undergone substantial renovations.

Step 1: Check Your Eligibility

Before you apply for the first home buyer NSW grant, make sure you meet all the eligibility requirements:

• You must be at least 18 years old.
• You (or at least one applicant) must be an Australian citizen or permanent resident.
• You and your spouse/partner must not have previously owned residential property in Australia before 1 July 2000.
• You have not previously received a First Home Owner Grant anywhere in Australia.
• You must buy as an individual or couple, not as a company or trust.
• The property must be new or substantially renovated and not previously occupied.
• The purchase price for a new home must not exceed $600,000, or $750,000 for vacant land plus construction costs.
• You must move into the property within 12 months of settlement or construction completion and live there for at least 12 continuous months.

Step 2: Gather Your Documents

Having the right documents ready will make your first home buyer NSW grant application smoother. You will typically need:

• Proof of identity (e.g., passport, driver’s licence)
• Proof of citizenship or permanent residency
• A copy of the contract for sale or building contract
• Title search showing you as the owner
• Statement from the vendor that the property hasn’t been occupied since completion
• Evidence of the land value (for new builds)

Step 3: Choose How to Apply

There are two main ways to apply for the first home buyer NSW grant:

• Through an Approved Lender: Many major banks and lenders are approved agents. If you’re taking out a home loan, your lender can help you complete and submit your application. This is often the fastest way, and if approved, the grant can be used as part of your deposit.
• Directly with Revenue NSW: If you prefer, you can apply online through the Revenue NSW website. You’ll need to create a MyRevenueNSW account, fill out the application form, and upload your supporting documents.

Step 4: Complete the Application Form

Fill in the First Home Owner Grant (New Homes) Application form carefully. Double-check all details to avoid mistakes that could delay your application or result in rejection. If applying through a lender, they may help you with this step and lodge the form on your behalf.

Step 5: Submit Your Application

• If applying through a lender, submit your completed form and documents to them. They will process and forward your application to Revenue NSW.
• If applying directly, upload your documents and submit your application via the Revenue NSW portal.

Make sure you lodge your application within 12 months of settlement or completion of construction.

Step 6: Monitor Your Application

After submission, keep an eye on your application’s progress. Revenue NSW or your lender may contact you for further information or clarification. Respond promptly to avoid delays.

Step 7: Receive the Grant

If your application is successful, the $10,000 first home buyer NSW grant will be paid:

• Directly to your lender (if you applied through them), usually at settlement or when the first progress payment is due for a build.
• Directly to you (if you applied through Revenue NSW), after settlement or construction is complete.

Tips for a Successful Application

• Double-check your eligibility before applying.
• Gather all required documents in advance to avoid delays.
• Ensure your application form is complete and accurate.
• Submit your application within the required timeframe.
• If in doubt, consult a home loan broker or legal expert for guidance.

Common Mistakes to Avoid

• Submitting incomplete or incorrect applications.
• Missing the application deadline.
• Applying through a lender that isn’t an approved agent.
• Not meeting the residency requirements after purchase.

Experts Approach

Applying for the first home buyer NSW grant can make a real difference when buying your first property. By following these steps, you can ensure a smooth application process and maximise your chances of receiving the grant. If you need help, a home loans broker can guide you through the process and help you find the best home loan for your needs.

Ready to take your first step towards homeownership? Start your first home buyer grant application today and make your dream home a reality!

1. Who is eligible for the First Home Buyer NSW Grant?

To be eligible for the first home buyer NSW grant, you must be at least 18 years old, an Australian citizen or permanent resident, and you (and your spouse/partner) must not have previously owned residential property in Australia before 1 July 2000. The property must be a brand-new home, a substantially renovated home, or a new build, and you must live in the home for at least 12 continuous months within the first year of purchase or completion.

2. Can I use the First Home Buyer NSW Grant as part of my home loan deposit?

Yes, if you apply for the first home buyer NSW grant through an approved lender, the grant can usually be used as part of your deposit. The funds are typically paid at settlement or when the first progress payment is due for a new build, helping you reduce the amount you need to save upfront.