According to, young Australians are giving up on ever owning their own home. The 2018 median house price was verging on a million dollars!

It can be demotivating to think that it might take years before you’ll be able to buy your own home. However, with various government initiatives to improve home ownership, it might be more affordable than you think. 

The First Home Buyers Assistance Scheme and the First Home Owner Grant (New Home) provide incentives that allow first home buyers like you to get into the property market and can provide a leg-up when buying your first home.


The First Home Buyers Assistance Scheme (FHBAS)

To increase home ownership, the NSW state government offers full or partial stamp duty exemptions, which can save you tens of thousands of dollars! The FHBAS applies to existing-dwellings as well as vacant land which is intended to be built upon. 

Conditions for existing dwellings and new homes:

  • If the home is valued at less than $650,000, you can apply to receive a full stamp duty exemption
  • If the value of your home is valued between $650,000 and $800,000, you can apply to receive a concessional stamp duty rate

Conditions for vacant Land (Home & Land Packages)

  • If the land is valued at less than $350,000, you won’t have to pay any stamp duty
  • If the land is valued between $350,00 and $450,000, you will be eligible for a concessional rate


The First Home Owner Grant – New Home (FHOG)

The FHOG is a lump sum of $10,000 payable to first home buyers purchasing brand new or constructed homes. Typically, you’ll be able to apply for the FHOG when you arrange a mortgage through your lender. 

To qualify, the purchase price of your new home must be no more than $600,000.

If you’re buying a home & land package, the total price – including the land and home – must be no more than $750,000.

When you complete your purchase, or you have begun constructing your home, you’ll have to send your application to Revenue NSW. This must be done within 12 months of settlement or construction completion.

For more details on the NSW government’s first home buyer schemes, visit their website here

Case Study: John

John grew up in South West Sydney and has landed an excellent job in the business district of Campbelltown. He has been living with his parents to save for a home deposit. John decides he wants to take advantage of the various first home buyer benefits that are provided by the NSW government.

Because John knows that the South West is a growing region, he begins researching areas to live. Because Tahmoor is only a 40-minute commute and he fell in love with the town when he visited, he decides to buy there. John then chooses a home & land package through Ownago because he has access to everything he needs, including designs, land, and lenders. 

John’s home & land package:

Land Value: $315,000

Total Package: $640,000

John was especially delighted because when he got in contact with Ownago, they informed him, given that he meets the other requirements listed, that his chosen home & land package would qualify for a complete stamp duty exemption because his land is worth less than $350,000. John would also qualify for the $10,000 First Home Owner Grant because he is building his home, and its value is less than $650,000.