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First Home Buyer Choice

Looking to buy your first home in Sydney? Check out the First Home Buyer Choice program, designed to help first-time buyers enter the property market with ease. Find out how you can take advantage of grants and concessions to make your dream of homeownership a reality.

Important Information For First Home Buyers

This is your chance to get into the property market with no stamp duty

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For contracts entered from 16 January 2023, purchasers can opt-in to pay the annual property tax directly and will not have to pay duty.

How much is the First Home Buyer Choice Grant?

The Government is providing first home buyers purchasing a new or existing home for up to $1.5 million the choice to either pay the existing upfront stamp duty or an annual property tax. A first home buyer purchasing vacant land on which they intend to build a home for up to $800,000 will also have the choice of either stamp duty or an annual property tax.

First home buyers will continue to be eligible for first home buyer stamp duty exemptions and concessions. Because first home buyers purchasing a new or existing home for up to $650,000 are exempt from stamp duty, they are not expected to choose the property tax.

What does this mean for me?

Annual property tax rates for owner-occupiers will be $400 plus 0.3 per cent of the property’s land value.

Removing the obligation to pay stamp duty will mean first-home buyers who opt in to the new property tax won’t have to save as much money to pay upfront costs before buying a home.

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Lowering upfront costs will reduce the amount of time it takes to save money to buy a home, potentially helping first-home buyers enter the market sooner.
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New HomesEstablished homesVacant land
Pay zero stamp duty
Home valued under $650,000Home valued under $650,000Land valued under $350,000
Pay a concessional rate of stamp duty
Home valued between $650,000 and $800,000Home valued between $650,000 and $800,000Land valued between $350,000 and $450,000

How do I know if I'm eligible?

  • you must be an individual (not a company or trust)
  • you must be over 18 years old
  • you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
  • you or your spouse must not have previously:
    • owned or co-owned residential property in Australia
    • received a First Home Buyer Grant or duty concessions.
  • the property you are buying must be worth less than or equal to $1.5 million
  • you must move into the property within 12 months of purchase and live in it continuously for at least 6 months
  • you must sign the contract of purchase on or after 11 November 2022 (see below for details).

To help first-home buyers compare their savings NSW rolled out a calculator on the Service NSW website that shows how much each of the option would cost.

For more information, please click here

The quickest and easiest way to find out more is to have a First Home Buyer Choice Consultation and Display Home Tour, so you can see with your own eyes why Everyday Homes are your best choice for entering the property market in Sydney. And we’ll walk you through our proven home build process which is the first step in getting the exact home you want.

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