10 Dec 2010
First home owners in NSW should be made aware that as of January 1st 2011, the first home owner’s grant cap will be increased to the amount of $835,000.
This means that all first home owners who are eligible for the first home owner’s grant can buy a home worth up to $835,000 and still receive the $7000 grant. The first home owner grant cap is currently set at $750,000.
The increase in the first home owner’s grant is great news for those first home buyers who are looking at spending a little more on buying their first home, especially considering the rising costs of homes in most parts of NSW.
Apart from the first home owner’s grant though, first home buyers are also eligible for stamp duty savings worth up to $17,990 and those who are building can claim savings of up to $29,490 under the NSW home builder's bonus.
To keep up to date with first home owner benefits and to find out if you are eligible visit