Big Win for NSW First Home Buyers: Stamp Duty Exemption is Up to $800,000!
In case you missed it, there's been some great news for first home buyers in New South Wales. The state government has increased the purchase price for the stamp duty exemption.
As of the 1st of July 2023, the stamp duty exemption has gone from $650,000 up to $800,000. So in other words, if you buy a property for $800,000, there's no stamp duty payable for first home buyers.
This is a saving of approximately $31,000.
What NSW Grants And Concessions Are Available To You?
If you are buying your first home it is important to consider your eligibility for government schemes. Some states give discounts and
exemptions for stamp duty, lenders mortgage insurances or even in some instances cash grants. Each state and territory have
different schemes and concessions. Research to understand if you are eligible for any of the below.