First Home Buyers: Your Huntlee Guide

What is it?

From 1 October 2025, the Regional First Home Buyer Guarantee will be replaced by the First Home Guarantee, part of the expanded Home Guarantee Scheme. This scheme allows eligible first home buyers across Australia, including regional areas as Huntlee, to purchase a home with a minimum deposit of just 5% and avoid the cost of Lenders Mortgage Insurance (LMI).

The new scheme removes limits on the number of guarantees available, making it accessible to all Australian first-home buyers who meet the eligibility requirements.

Are you eligible for the Regional Home Buyer Guarantee?

To access the Home Guarantee Scheme, you must meet certain criteria:

• Be aged 18 or over.
• Apply as an individual or joint applicant.
• Be an Australian citizen or permanent resident.
• Meet the deposit requirement (minimum 5%).
• Have not previously owned property in Australia in the prior 10 years.
• For regional eligibility, at least one applicant must have lived in a regional or adjacent regional area for the preceding 12 months (exceptions apply if relocating for work).

Note: The previous income limits ($125,000 for singles, $200,000 for couples) no longer apply under the new scheme.

What is a regional area?

A regional area is defined as:

• areas in a State or the Northern Territory, Statistical Area Level 4 (ASGS SA4 2016), that are not a capital city of that State or Territory; and
• Norfolk Island; or the Territories of Jervis Baym Christmas Island or Cocos (Keeling) Islands.
• Home buyers in the greater capital city areas of each state and the Northern Territory may be eligible for the First Home Buyer Guarantee. 

You can check the area eligibility for the RFHB with the Regional Checker. 

Property value thresholds

From 1 October 2025, property price caps are increasing to reflect market conditions. For example:

• NSW other regional areas: $750,000 → $800,000

You can search for the property price threshold for a suburb or postcode using the Property Price Cap Tool

How to apply

Applications must be made through a Participating Lender or their authorised representative (i.e., a mortgage broker).

The lender will:

1. Check your eligibility using the new Home Guarantee Scheme Eligibility Tool.

2. Process pre-approval and submit your application to Housing Australia.

3. Help you find and secure your first home.

The expanded scheme is available through over 30 Participating Lenders across Australia, including major banks, regional banks, and customer-owned banks.

Housing Australia has authorised a panel of Participating Lenders to offer the First Home Guarantees.

As a first home buyer in NSW, you may be eligible for a full exemption or reduced rate of transfer duty under the First Home Buyers Assistance Scheme.

What is it?

If you are a first home buyer purchasing an existing property worth $800,000 or less, you can receive full exemption from transfer duty, or stamp duty as it is commonly known. If the property is worth between $800,000 and $1 million, you may be eligible for a reduced rate.

If you buy vacant land to build a house on that is worth $350,000 or less, you may be eligible for an exemption. If the land is worth between $350,000 and $450,000 you may be eligible for a reduced rate. 

To get an idea, at Huntlee, duty on a housing package would be approximately $28,000 and a minimum of $10,000 for vacant land.

Use this handy Transfer Duty Calculator to help you work it out for your property.

Are you eligible for the First Home Buyers Assistance Scheme?

There are certain criteria you need to meet to be eligible for the First Home Buyers Assistance Scheme;

• • You must be 18 years or over.
  • You must be an individual, not a trust or company.
  • The value of the property must be within the threshold amounts.
  • You or at least one of your co-buyers must be an Australian citizen or a permanent resident.
  • You are not eligible if you or your spouse have applied for the First Home Buyers Assistance Scheme previously.
  • You are not eligible if you or your spouse have owned or co-owned a residential property in Australia previously.
  • If your circumstances change so that you cannot meet the residence requirements, you will no longer be eligible for the government grant.

For contracts exchanged on or after 1 July 2023, you or your co-buyers must move into the property within 12 months of the settlement date and live there as your principal place of residence for at least 12 months. 

For contracts exchanged between 1 July 2017 and 30 June 2023, you or your co-buyers must move into the property within 12 months of the settlement date and live there as your principal place of residence for at least 6 months. 

If you are a member of the Australian Defence Force when you exchange contracts, you won’t have to meet residence requirements providing all buyers are on the NSW electoral roll.

You can check out how much you can save using the First Home Buyers Assistance calculator. 

Check the key definitions and eligibility criteria for more information. This includes possible exemptions to the above. 

How to apply

You can lodge your application for the government grant with your solicitor or conveyancer. You will be asked to provide supporting documents and identification. 

You can download the forms for the First Home Buyers Assistance Scheme from the NSW government website.

What is it?

The first home owners grant is worth $10,000. It can be used to support the purchase of your first home, whether you buy or build a property. It is not available for established homes.

Are you eligible for the First Home Owner Grant?

 There are certain criteria you need to meet to be eligible for the first home owners grant.

• You must be an individual, not a company or trust.
• You must be aged over 18.
• You, or at least one person you’re buying with must be an Australian citizen or permanent resident.
• You are not eligible if you or your spouse have received an Australian First Home Owner Grant previously.
• You are not eligible if you or your spouse have previously owned a property before 1 July 2000, either jointly or separately. But you may be eligible if you haven’t lived in it for more than six months on or after 1 July 2000.

For contracts exchanged before 1 July 2023.

• You must live in your first home as your principal place of residence within 12 months of buying or from building completion. 
• The minimum period of occupancy is six continuous months.

For contracts exchanged on or after 1 July 2023.

• You must live in your first home as your principal place of residence within 12 months of buying or from building completion. 
• The minimum period of occupancy is 12 continuous months.

If you’re a member of the Australian Defence Force, you may be exempt from the six or 12-month residence requirement, providing all buyers are on the NSW electoral roll. 

Property value thresholds

The total value of your first home must not exceed $600,000 if the property is either newly constructed or ‘substantially renovated’. Substantially renovated is defined as most or all the original house being removed or replaced. It must be the first time the property has been sold and lived in after the renovations are complete.

If you plan to build on vacant land, the total value of the land and property must not exceed $750,000. If you buy land and sign a building contract (or are the builder), the total value is calculated as the land plus the value of the building contract plus the cost of any building variations.

How to apply

Apply for the first home owners grant when you are arranging your finance through your lender. You will be asked for supporting documents and identification.

If you’ve already completed the purchase or construction, you can lodge your application through the First Home Owner Grant portal.