First Home Owners Grant to double, NSW

13 JUN 2012 • 1 min read • Investor Strategy

The first home owner’s grant will more than double under the new budget, with $15,000 up for grabs for those looking to buy New South Wales dwellings.

Those looking at new property, valued up to $650,000, will be able to tap into this new windfall.

However, those interested in purchasing older property will see their $7,000 bonus disappearing under the First Home Owner’s Grant (New Home) Scheme.

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New apartments and houses will also continue to be exempt from stamp duty for first time buyers.

These changes will come into place from October 1 this year until the end of 2013. Investors will then see a drop down in the grant to $10,000 from 2014.

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