Stamp duty sucks!
Here’s how to pay less in NSW
So, you’re thinking about buying your first home in NSW? First of all, massive congrats — that’s a big deal. But now comes the annoying part: stamp duty. It’s a hefty chunk of cash you’ve got to pay just for buying a place.
The good news? If you’re a first-home buyer, there are ways to not pay it, or at least pay way less. That’s where the First Home Buyers Assistance Scheme (FHBAS) comes in.
At Buyvest, we’re not about the hard sell. We’re here to help you get into your first home without getting screwed by extra costs. Let’s break it all down.
So, what even is the First Home Buyers Assistance Scheme (FHBAS)?
It’s a NSW government thing that cuts down how much stamp duty you’ve gotta pay (or wipes it completely) if you’re buying your first place.
Here’s the gist:
Buy a place under $800k? You pay zero stamp duty. Yep, nothing.
Buying something between $800k and $1mil? You’ll still save a chunk — it’s reduced, not wiped.
Buying land to build? If it’s under $350k, no stamp duty. If it’s between $350k–$450k, you still get a discount.
That could save you tens of thousands — money you’d rather put towards your actual house, not government fees.
Can you get it? Here’s the checklist
To qualify, you’ve gotta tick these boxes:
Buying in NSW (duh)
A real person (not a company or trust)
18 or older
Aussie citizen or permanent resident
Never owned property in Australia before — this includes your partner if you're buying together
And if you’re buying a home (not just land):
You’ve got to move in within 12 months of settlement
And live there for at least 12 months straight
Buying with Someone Who Doesn’t Qualify?
You might still be able to get a slice of the savings, as long as the eligible buyer owns at least 50%. Worth checking out.
Heads Up — Don’t mess around with this
Don’t lie or stretch the truth on your application. If the government finds out, they’ll make you pay it all back plus penalties and interest.
Not worth the risk.
How much could you actually save?
Here’s a quick look at how stamp duty stacks up — with and without the FHBAS help:
So yeah, that’s up to $30K back in your pocket.
Buyvest has your back
We’re not just here to talk — we’re here to actually help. At Buyvest, we help first-home buyers:
Figure out if they’re eligible for FHBAS and any other perks
Get their pre-approval sorted
Find the best home loan deal (we look at heaps of lenders, not just one)
Explain all the fine print in plain English
Hold your hand through the whole process, from thinking about buying to moving in
We’ve helped loads of people get into their first place — and we’ll help you too.
Real talk: Got questions? We got answers
What’s stamp duty again?
It’s a government tax on buying property. Super annoying, but unavoidable — unless you qualify for a discount or exemption.
Can I get the discount if I owned a place ages ago in another state?
Nope. If you’ve ever owned a home in Australia, you’re out.
What if I don’t move in within 12 months?
You could lose the exemption and have to pay it back — with interest. If life happens (like a new job or family stuff), Revenue NSW might cut you some slack, but don’t bank on it.
Can I get the discount on an investment property?
Nah. It’s only for homes you’re actually going to live in.
Is $800k the magic number?
Pretty much. If your place is $800,000 or under, you get the full exemption. $800,001? You’re into concession territory.
Who decides what my property is worth?
They usually go off the contract price, but if they reckon it’s worth more, they might use the higher value. Sneaky.
What if my partner isn’t a first-home buyer?
Then sorry — you both have to be first timers to get the exemption (unless you’re doing a shared equity thing with 50/50 ownership).
What if I have to move out early?
Talk to Revenue NSW ASAP. You might get an exemption, but only for serious stuff like job relocation or family dramas.
What other costs should I plan for?
Legal fees (around $800–$2,500)
Building/pest inspections
Mortgage registration + transfer fees
Loan setup costs
Moving + any renos
How do I actually apply for the FHBAS?
Your conveyancer or solicitor will sort it out during settlement. If you’re DIY-ing it, head to the Revenue NSW website and follow the steps.
Let’s wrap it up
Stamp duty is a pain, but there are ways to make it hurt less — or skip it completely. If you’re buying your first place, you don’t have to figure it all out solo.
Buyvest is here to make sure you’re not missing out on any savings, and that you’re getting a loan that actually works for your life. No pressure, no nonsense.
Want to chat with someone who actually gets it?
Give us a ring or drop us a message. We’ll help you get moving, the smart way.
That face when you save $30K and still get the house
...came for the keys, stayed for the savings.
Important stuff:
Please note that the views and opinions expressed in this post are general information only, and this is not financial advice.
Any advice and information is provided by Buyvest Pty Ltd ABN 91 684 841 496, Australia Credit Licence No. 567392 and is general in nature, for educational purposes only and is not intended to constitute specialist or personal advice. This website has been prepared without considering your objectives, financial situation or needs. Therefore, consider the appropriateness of the advice for your situation and needs before taking any action. It should not be relied upon to enter into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. If any financial product has been mentioned, you should obtain and read a copy of the relevant Product Disclosure Statement and consider the information contained within that Statement concerning your circumstances before deciding whether to acquire the product. You can obtain a copy of the PDS by emailing hello@buyvest.com.au. If you want to change your financial circumstances, such as applying for a loan, all loan applications are subject to credit approval.
All information on this website is subject to change without notice.
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