What is a first home buyer in NSW?
In NSW, to be a first home buyer, you must be a person of at least 18 years of age who has not, and whose spouse/de facto has not:
- at any time owned (either solely or with someone else) residential property in Australia other than property owned solely as trustee or executor
- previously received an exemption or concession under First HomeNew Home
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.
If there are more than one first home buyers purchasing a property, at least one must occupy the home as their principal place of residence for a continuous period of 6 months, commencing within 12 months of completion of the agreement.
|Tags: Tips First Home Buyer|