What is the First Home Owners Grant?

Itโ€™s the great Australian dream for many: to own a property they can truly call their own. With house prices at near peak levels and in short supply, this dream can often seem a little too ambitious. The good news is, if youโ€™re an Australian whoโ€™s ready to get into the property market in Sydney, the New South Wales Government wants to help.
The First Home Owners Grant (FHOG) is an arrangement that involves a one-time lump sum payment towards the property you wish to purchase, as well as a reduction on one or many of the admin expenses associated with buying it. Not only can this grant potentially alleviate the anxieties of whether you can purchase but it can also make a big difference towards the size of your mortgage.

Mincove Homes Illawarra Builders Clients Couple


Many people often wonder, “How much is the First Home Owners Grant?” While the grant varies between states and territories, in NSW, you are eligible for a $10,000 payment. However, there are some eligibility requirements that must be taken into account.

Mincove Homes New Home Build in progress showing, ColorbondSteel Roofing, Truss and steel frames


Eligibility is different across states and territories. In New South Wales, you’ll need to satisfy the following criteria:

  • You are a permanent resident or citizen of Australia;
  • You have never received the grant or owned residential property before in any state or territory;
  • You are purchasing the home as an individual (and not as a company/trust or as an investment property), and
  • You will live in the residence for a minimum of 12 months

The FHOG is also dependent on the price of the property. You may be eligible if:

  • You are buying a newly constructed home valued at less than $600,000 or
  • You are buying land, in which the combined value of house and land is less than $750,000

If the value of the home is priced above this range, then you will not be eligible for the FHOG.

It is also important to note that you cannot qualify for the grant if you are buying an existing home.


If you would like government support, you can apply for the FHOG through your bank or financial institution when you arrange funds to buy your house. The grant is not given to you, but rather your lender at the time of your settlement. It is then directly applied to your home loan.

If you are building a house, the grant will be accessible at the time of your first loan repayment. The funds will be directly put into your bank account or applied to your loan.

Mincove Homes has a stunning range of house and land packages for you, designed to suit your lifestyle and taste. If you would like more information, please contact us on (02) 4256 0222. Alternatively, please book an appointment for a walkthrough in one of our 6 Display Homes in Calderwood, Wongawilli and Nowra.

Mincove Homes
Mincove Homes Published on May 27, 2020 2 minute read

Related Blog Posts

Mincove Homes Handover couple with keys and flowers in front of their new Mincove Home
11 Oct, 2023 5 minute read

Building a New Home: Top 10 Expert Tips on Getting Started

Are you contemplating the idea of building a new home in the picturesque Illawarra, Shoalhaven, or Southern Highlands regions? Whether it is accommodating a growing family or crafting an investment property, the journey of building a new home can be both thrilling and challenging.
To guide you through this transformative experience and provide you with valuable insights from our years of expertise, we have put together this comprehensive guide:

Been thinking about building? Here are some tips of getting your project started., Tips on getting your building project started
09 Mar, 2023 3 minute read

Tips on getting your building project started

So, are you thinking of building a new home? Maybe your current dwelling no longer suits your growing family’s needs, or you are interested in building an investment home.

Building a new home can be an exciting but challenging process. Here are some tips to help you get started.

Here is a list of reports & certificates you may need for your build., Reports and certificates explained!
24 Jan, 2023 3 minute read

Reports and certificates explained!

When considering a new build, there are a few things to keep in mind. One of those is the reports and certificates needed in order to commence your project.