At Park Hill, we are passionate about connecting families and building vibrant communities. We take pride in making the dream of homeownership more accessible for Australians. With the government’s exciting commitment to providing new and inclusive pathways, we’re excited to share the various government grants available to first home buyers. 

These grants can significantly ease the financial burden of purchasing your first home, below, we break down what’s on offer.

 

No Stamp Duty – First Home Buyer’s Assistance Scheme 

Learn more about the First Home Buyers Assistance Scheme

Stamp duty, or land transfer duty, is a one-time tax paid when purchasing property in New South Wales. Calculated based on the property’s market value, this tax can add up quickly. The First Home Buyer’s Assistance Scheme aims to lighten this financial load by waiving the stamp duty for eligible buyers, potentially saving you tens of thousands of dollars.

What’s on offer

  • Full exemption on transfer duty for homes valued at $800,000 or less.
  • Partial exemption for homes valued between $800,001 and $1,000,000.

Requirements

  • You must be purchasing your first home in Australia.
  • The property’s value must be less than $1 million.
  • You must move into the property within 12 months of settlement and live there for at least 12 continuous months.

For detailed eligibility criteria, read more about the First Home Buyer Assistance Scheme.

 

$10,000 – First Home Owners Grant  

Discover More About the First Home Owners Grant

If you’re buying or building your first new home, you could be eligible for a grant of $10,000. This grant applies to new homes that have never been lived in before, including house and land packages.

What’s on offer

  • $10,000 towards the purchase price of your new home, in addition to benefits from the First Home Buyer’s Assistance Scheme.

Requirements

  • Buying or building your first home.
  • It’s a new home that no-one has lived in before.
  • It’s worth no more than $600,000 (or, for a house and land package with comprehensive building contract, no more than $750,000).
  • You must also move into the property within 12 months from settlement and live there for at least 12 continuous months.

Find out more about the eligibility requirements for the First Home Owner Grant (new home).

To qualify as a first home buyer and be eligible to apply for the above grants, you must be:

  • Purchasing the first home you or your spouse have owned or co-owned in Australia*
  • an Australian citizen or a permanent resident of Australia
  • at least 18 years old*.

*Some exceptions may apply.

 

5% deposit First Home Guarantee 

Explore the First Home Guarantee

This Australian Government initiative is designed to help eligible buyers purchase their first home sooner by allowing them to secure a mortgage with just a 5% deposit, without incurring Lenders Mortgage Insurance (LMI).

The First Home Guarantee supports up to 35,000 guaranteed loans each financial year. 

Requirements:

  • You can apply as an individual or joint applicants.
  • Must be an Australian citizen or permanent resident.
  • Age requirement: at least 18 years old.
  • Income limit: Up to $125,000 for individuals and $200,000 for joint applicants.
  • Intended use: Must be an owner-occupied property.
  • First home buyers or those who haven’t owned property in Australia in the last 10 years.

Click here to access the Government’s Eligibility Tool – a short questionnaire to determine which Guarantee/s you may be eligible for. 

 

Huntlee $20,000 Rebate – total net deposit input of ONLY $4,250

We currently have packages exclusive to Park Hill property, available in the Hunter Valley, which can receive a $20,000 rebate from Huntlee.

With this exclusive promotion on lots in Caphilly – Huntlee’s newest land release: First Home Buyers only need a $4,250 deposit and will get a $20,000 discount on their lot price at settlement*. This offer is designed to make your first home-buying experience smoother and more affordable.

We have packages available in Huntlee, for $665,000 – exclusive to First Home Buyers. Only two are left, these will sell quickly, so get in touch!

Learn more about this exciting opportunity by visiting the Huntlee Homebuyers Guide.

With numerous grants and support options available, now is an excellent time to consider purchasing your first home. At Park Hill, we are here to guide you through this journey and help you take the next step toward homeownership. 

If you’re interested in learning more, please contact us at 1800 727 544 or via our website. Your journey to homeownership awaits!