2013 NSW State Budget – Announcement regarding the First Home Owner Grant (New Homes) Scheme

In the recent NSW State Budget for 2013, the NSW Government has announced changes to the First Home Owner Grant (New Homes) Scheme. Currently, first home owners who purchase or build a new home under $650,000 on or after 1 October 2012 are eligible for the $15,000 grant.

As announced, the grant of $15,000 is extended for a further 2 years from 31 December 2013 to 31 December 2015, and then it will reduce to $10,000 from 1 January 2016.