Buying your first home is an exciting milestone, but it can also feel daunting. Fortunately, there are several government initiatives designed to make the process easier and more affordable for first-time buyers in New South Wales. 

With the right guidance, you can take advantage of these programs to secure your first home with confidence. In this article, we’ll explain the key options available in 2026 and how they can benefit you.

Option One: First Home Owners Grant (FHOG)

The First Home Owners Grant is aimed at helping eligible buyers purchase or build a brand-new home. To qualify:

• You must be at least 18 years old.
• You must be a first-time home buyer; companies or trusts cannot apply.
• You must be an Australian citizen or permanent resident (or apply jointly with someone who meets this criterion).
• The property must be your principal place of residence within 12 months of settlement.
• The home must be new, with a value up to $600,000, or a land/build package up to $750,000.
• Individual applicants’ income must be under $125,000 per year; couples’ combined income must not exceed $200,000.
• You are required to make a down payment of 5–20% of the purchase price, which can include the grant. 

The maximum grant available is $10,000, which can contribute to your deposit but may not cover it entirely. You can use personal savings or explore additional financing to meet any remaining balance. Your mortgage broker can help you understand the options available.

Even if you are purchasing an existing property, you may still qualify for FHOG if the property has been substantially rebuilt or renovated and you are the first purchaser after completion.

Option Two: First Home Buyers Assistance Scheme (FHBAS)

The First Home Buyers Assistance Scheme provides stamp duty exemptions or concessions for eligible first-time buyers. In 2026, these benefits have been expanded to make entry to the property market easier.

• New or existing homes: Full stamp duty exemption for properties up to $800,000; concessional rates apply for properties between $800,000 and $1,000,000.
• Vacant land: Full exemption for land priced at $350,000 or less; adjustments apply for land between $350,000 and $450,000.

This program is especially useful when combined with the FHOG or other incentives, helping you maximise savings on your first property purchase.

Option Three: Shared Equity Home Buyer Help

The Help to Buy Scheme, launched in December 2025, allows eligible buyers to purchase a property with as little as a 2% deposit, while the government contributes up to 40% equity for new homes. This program is particularly aimed at:

• Single parents with dependent children
• Buyers over 50 purchasing their first home
• First-time buyers in certain professions, including nurses, teachers, paramedics, police officers, and early childhood educators
• Survivors of domestic or family violence 

Eligibility requirements include:

• Single income under $90,000; couple income under $120,000
• Minimum 2% deposit from personal savings
• Property must be your principal place of residence
• Must be an Australian citizen, permanent resident, or New Zealand citizen 

This shared equity option can make entering the property market achievable for those who might otherwise struggle with high deposit requirements.

Stacking Your Benefits

One of the most significant advantages for first home buyers in 2026 is the ability to “stack” multiple incentives. For example, you could combine the FHOG with the FHBAS and the Help to Buy Scheme, maximising your upfront savings and reducing the financial burden of your first home purchase.

Take Action with Expert Guidance

Owning your first home is a dream that is now more achievable than ever. With government assistance programs designed to reduce costs and ease entry into the property market, there are options available for a wide range of buyers.

To ensure you make the most of these programs, seek legal advice from an experienced property lawyer. A lawyer can help you navigate eligibility criteria, review contracts, and ensure your first property purchase is secure and legally compliant.

If you are considering buying your first home in NSW, contact our team today. We can guide you through every step of the process, ensuring you understand your options and make informed decisions. Call us on 0296232777 or email co****@***********om.au to schedule a consultation.