The NSW first home buyer playbook
Grants, guarantees, duty relief and the order to tackle them in.
Short answer
Buying your first home in NSW comes with more help than most people realise. The trick is stacking it in the right order.
1. Know your real budget
Start with borrowing power, then subtract every cost to buy. That number, not the bank’s maximum, is your search budget.
2. Check the Home Guarantee Scheme
If eligible, you can buy with 5% down and no Lenders Mortgage Insurance. Places are allocated through participating lenders, so lender choice matters.
3. Factor in transfer duty relief
Eligible first home buyers may pay no duty below a threshold and reduced duty up to a higher cap. Confirm current thresholds with Revenue NSW.
4. Get a pre-approval you can bid with
A fully assessed pre-approval, not a quick online estimate, is what gives you confidence at auction.