Buying your first home is an exciting milestone, but it also brings a maze of contracts, lenders and government forms. NSW offers several programs to help first-time buyers, but eligibility depends on when and how you buy — and mistakes at contract stage can cost thousands.
This guide explains the main grants and concessions available, how they interact with the conveyancing process, and why early legal advice is essential before you sign.
The Role of a Conveyancing Lawyer
Conveyancing is the legal process of transferring property ownership. For first-time buyers it involves extra layers — checking grant eligibility, coordinating with your lender, and ensuring the contract satisfies program rules.
A property lawyer will:
Review the contract and explain key terms;
Confirm eligibility for government schemes;
Liaise with your lender and Revenue NSW to manage grant documentation;
Guide you from deposit to settlement, ensuring legal and timing requirements are met.
Government Assistance for First Home Buyers in NSW
The main programs are administered by Revenue NSW. Each has specific conditions relating to price, residency and property type. Your lawyer helps confirm eligibility before exchange so applications are lodged correctly.
First Home Buyer Assistance Scheme (FHBAS)
Provides stamp-duty exemptions or concessions for eligible buyers of new or existing homes or vacant land.
Full exemption applies up to a prescribed property-value threshold, with concessional duty above that limit.
Core criteria:
Buyers must be individuals, at least 18 years old;
Must occupy the property as their principal place of residence within 12 months;
Must reside there for at least 12 continuous months.
A lawyer ensures the contract and names on title match those used in the application — a frequent source of error.
First Home Owner Grant (FHOG)
A $10,000 grant (as at October 2025) for buying or building a new home that has never been occupied.
Can be applied toward the deposit or settlement funds.
May be combined with the duty concession if both sets of criteria are met.
Shared-Equity and Federal Schemes
Shared Equity Home Buyer Helper (NSW) lets eligible key workers, single parents and singles over 50 purchase with a government equity share.
Federal initiatives, such as the Home Guarantee Scheme and First Home Super Saver Scheme, assist with deposit or superannuation savings.
These programs interact with the timing of exchange and settlement — your lawyer confirms the contract structure supports eligibility.
Timing Is Critical
Most first-home concessions apply only if eligibility exists at exchange, not after.
Common timing mistakes include:
Signing before confirming eligibility;
Entering contracts in the name of a company or trust;
Lodging applications after the permitted timeframe;
Moving out early and breaching the occupancy rule.
Deposits, Finance and Settlement
First-time buyers often rely on high-loan-ratio finance. Contracts should allow enough time to obtain unconditional approval.
A property lawyer will:
Review finance clauses or negotiate realistic completion dates;
Coordinate lender requirements with the grant or concession timelines;
Confirm how the deposit is held (usually in the agent’s or solicitor’s trust account);
Explain standard NSW settlement timing — typically 42 days (six weeks) — and manage adjustments on your behalf.
Due Diligence Before You Buy
Even when government assistance applies, the property itself must stand up legally and structurally. Your lawyer will:
Skipping proper review to save on fees often proves more expensive when problems emerge after exchange.
Buying Off-the-Plan
Many first home buyers purchase brand-new or off-the-plan dwellings to access the FHOG. These contracts are complex and run for years.
Key points you will need your lawyer to give you advice on include:
The sunset date and how it can be extended;
Deposit protection (held in trust until completion);
The 10-business-day cooling-off period;
Whether the disclosure statement and finishes match what’s advertised;
That the contract meets all requirements for first-home concessions.
Legal Tips for First Home Buyers
Get legal advice before signing anything or waiving your cooling-off rights.
Confirm grant eligibility early — before exchange, not afterwards.
Allow time for finance approval and get your paperwork in order.
Keep copies of all application forms and correspondence with Revenue NSW.
Occupy the home for the required period to maintain your benefits.
Ask questions — clear understanding now avoids costly surprises later.
Why Legal Guidance Matters
For first home buyers, every deadline matters. Lenders, agents and government bodies all operate on strict rules.
A property lawyer coordinates these moving parts — confirming compliance, safeguarding your deposit, and ensuring you actually receive the benefits promised.
Beyond the paperwork, they give you confidence that the biggest purchase of your life is legally sound.
Conclusion
Buying your first home can be both thrilling and stressful. Understanding how government schemes work — and getting the contract right from the start — makes the process smoother and safer.
Speak to a specialist property lawyer
Our property team includes multiple Law Society Accredited Specialists in Property Law who act for first home buyers across Sydney and NSW.
If you’re purchasing your first home, give us a call or submit an enquiry now to speak with one of our specialist conveyancing lawyers.
