Kurri Kurri & Muswellbrook Blog

The First Home Buyers Assistance scheme is a NSW Government initiative which provides exemptions or concessions on transfer duty for eligible NSW first home buyers. This includes vacant land on which you intend to build your first home.

The First Home Buyers Assistance scheme commenced from 1 July 2017.

The First Home Buyers Assistance scheme provides eligible purchasers with exemptions on transfer duty on new and existing homes valued up to $650,000 and concessions on duty for new and existing homes valued between $650,000 and $800,000.

Eligible purchasers buying a vacant block of residential land to build their home on will pay no duty on vacant land valued up to $350,000, and will receive concessions on duty for vacant land valued between $350,000 and $450,000.

For more information http://www.osr.nsw.gov.au/grants/fhba 

If your looking to purchase your first home, the team at Raine & Horne Muswellbrook can help. Call Grant Jupe on 02 6543 2333.