The New South Wales Government currently has a number of property grants available for those purchasing a new home or relocating to a regional area from the city.
First Home – New Home scheme
Provides eligible purchasers with exemptions from transfer duty on new homes valued up to $550,000. Eligible purchasers buying a vacant block of residential land to build their home will pay no duty on vacant land valued up to $300,000, and will receive concessions for vacant land valued between $300,000 and $450,000.
First Home Owner Grant (New Homes)
The First Home Owner Grant (New Homes) scheme assists eligible first home owners to purchase a new home or build their home by offering a $15,000 grant.
New Home Grant Scheme
The new home scheme provides a grant of $5,000 towards the purchase of new homes, homes off the plan and vacant land on which a new home will be built, even if you are not a first home buyer.
Regional Relocation Grants
The Regional Relocation Grants Act provides payments to approved applicants who relocate from metropolitan areas to regional areas for the purpose of employment, self-employment or purchasing a home. The Regional Relocation Home Buyers Grant provides a one-off payment of $7,000.
The Skilled Regional Relocation Incentive commenced on 1 January 2014 and provides a $10,000 grant for an eligible employment or self-employment relocation.
To find out if you are eligible for any of the above grants, visit the Office of State Revenue website for more information and full terms and conditions.