All non- first home buyers and investors purchasing homes off the plan or a new dwelling up to $650,000 or vacant land up to $450,000, are eligible for a $5,000 grant.
Under the NSW New Home Grant Scheme, this $5,000 grant is available as of the 1st July 2012 and was introduced to stimulate the construction of new homes in NSW.
When considering the costs of purchasing a property stamp duty is a factor that needs to be taken into account. However in the Hunter Region this grant goes a long way to compensating the buyer for stamp duty and other related costs. Another great point to remember is that there are no restrictions on the number of times a purchaser can apply for the grant.
Further details about the NSW New Home Grant Scheme can be found here.