Helping Australians Step into Property Ownership – A Legal Perspective from Platinum Lawyers
For many Australians, buying a first home is a major life goal — but rising property prices and economic uncertainty have made it increasingly challenging. Fortunately, there’s good news for first home buyers in New South Wales and across Australia.
Government initiatives, grants, and loan assistance programs are now available to make home ownership more achievable than ever before.
At Platinum Lawyers, our experienced property and conveyancing team has assisted countless first-time buyers in navigating these schemes. In this guide, we explain how government assistance works, who qualifies, and how our conveyancers and property lawyers can help you purchase your first home with confidence and peace of mind.
Why Government Assistance Matters for First Home Buyers
Over the past decade, the property market in Sydney and NSW has seen significant growth, placing financial pressure on first-time buyers. The Australian and NSW Governments have introduced various programs to:
Help first home buyers save for a deposit
Reduce or remove upfront costs like stamp duty
Offer low-deposit or shared-equity options
Encourage buyers to enter the market sooner
These initiatives are designed to level the playing field — making it easier for everyday Australians to own a home, rather than rent indefinitely.
Let’s explore the main assistance programs currently available for eligible buyers in NSW.
1. First Home Owner Grant (FHOG)
The First Home Owner Grant is one of the most well-known government incentives. It provides a one-off payment of up to $10,000 for eligible buyers purchasing a newly built home, apartment, or house-and-land package.
Eligibility requirements include:
The property must be brand new (not previously lived in).
It must be valued under $600,000, or $750,000 for a new build on vacant land.
At least one applicant must occupy the home as their principal place of residence within 12 months of settlement.
Applicants must be Australian citizens or permanent residents.
The FHOG can significantly reduce the financial stress of buying a new home, especially when paired with other available incentives.
(Source: NSW Government – Revenue NSW)
2. First Home Buyer Assistance Scheme (FHBAS)
The First Home Buyer Assistance Scheme helps reduce or completely eliminate stamp duty (transfer duty) costs. Depending on the property value, eligible buyers may pay no duty at all or receive a concessional rate.
As of 2024:
No stamp duty applies for homes valued up to $800,000.
Concessional duty applies for homes between $800,000 and $1 million.
For vacant land, full exemption applies up to $350,000 and concessional rates up to $450,000.
Stamp duty is often one of the biggest upfront costs in property buying. Through this scheme, buyers can save tens of thousands of dollars — funds that can instead go toward their deposit or moving expenses.
(Source: NSW Government – First Home Buyer Assistance)
3. First Home Guarantee (FHBG)
Previously known as the First Home Loan Deposit Scheme, this program is administered by Housing Australia (formerly NHFIC). It allows first home buyers to purchase a property with as little as a 5% deposit, without paying Lenders Mortgage Insurance (LMI).
The government essentially acts as a guarantor for the remaining 15% of the deposit.
To qualify:
Applicants must be first home buyers purchasing an eligible residential property.
Individual income must be below $125,000 (or $200,000 for couples).
The property price must be below the government’s regional price cap for your area.
This scheme helps buyers get into the market years earlier, avoiding the need to save a full 20% deposit.
(Source: Housing Australia – First Home Guarantee)
4. Family Home Guarantee (FHG)
The Family Home Guarantee supports single parents with at least one dependent child, allowing them to buy a home with just a 2% deposit, without LMI.
It applies to both first home buyers and single parents who may have previously owned property but no longer do.
For many single parents, this program has opened doors to secure housing and build equity for their families.
5. Shared Equity Home Buyer Helper (NSW)
The Shared Equity Home Buyer Helper, introduced by the NSW Government, allows eligible buyers to co-purchase a property with the government.
The government can contribute up to:
40% of the purchase price for a new home, or
30% for an existing home.
This contribution reduces your mortgage and deposit requirements. Buyers don’t pay rent on the government’s share and can buy out the government’s equity later.
Eligible buyers include:
Single parents with dependents
Single people aged 50+
First home buyers who are key workers (teachers, nurses, paramedics, etc.)
(Source: NSW Government – Shared Equity Home Buyer Helper)
Combining Government Schemes for Maximum Benefit
Many first home buyers can combine multiple schemes to reduce overall costs. For example:
A buyer may receive the $10,000 FHOG,
Pay no stamp duty under the FHBAS,
And qualify for the First Home Guarantee with a 5% deposit.
Our conveyancers at Platinum Lawyers regularly help clients assess their eligibility, complete the necessary applications, and structure their purchase to maximise these benefits.
Legal and Conveyancing Steps for First Home Buyers
While government incentives are an incredible help, the process of buying a home still involves several legal steps. Here’s where our conveyancing team plays a vital role.
1. Pre-Purchase Contract Review
Before signing anything, it’s critical that a qualified lawyer reviews the Contract for Sale. Our team examines the terms, special conditions, zoning, and potential risks to ensure your legal and financial interests are protected.
2. Property Searches
We conduct detailed searches, including title, zoning, council rates, and water certificates, to identify any encumbrances, easements, or disputes affecting the property.
3. Exchange of Contracts
Once negotiations are complete, we manage the contract exchange — ensuring both parties sign identical documents and that all required deposits and conditions are satisfied.
4. Cooling-Off Period
NSW law provides a 5-business-day cooling-off period for most residential contracts. During this time, buyers can withdraw with minimal penalty if any issues arise. Platinum Lawyers ensures you understand your rights throughout this stage.
5. Settlement
Settlement is when ownership officially transfers. We coordinate with your mortgagee, the vendor’s solicitor, and relevant authorities to ensure funds, keys, and legal documents are exchanged smoothly.
6. Post-Settlement Support
After settlement, our firm lodges all necessary paperwork with NSW Land Registry Services and provides you with your Certificate of Title. We retain your file securely for up to seven years for future reference.
How Platinum Lawyers Helps First Home Buyers
Buy smart, buy safe with expert legal advice
Buying your first home is exciting — but it can also be daunting. That’s why having an experienced legal partner makes all the difference.
At Platinum Lawyers, our team of property lawyers and licensed conveyancers are here to simplify the process from start to finish.
We provide:
Fixed-fee conveyancing – no hidden costs or surprises
Expert legal advice from lawyers with over 20 years’ experience
Comprehensive contract review and negotiation
Guidance on eligibility and applications for first home buyer schemes
Efficient communication with real estate agents, brokers, and lenders
Full transparency at every stage of your property transaction
Our goal is simple: to help you achieve the best possible outcome with confidence, affordability, and peace of mind.
Common Questions from First Home Buyers
1. Can I apply for more than one government grant?
Yes. Many buyers qualify for multiple schemes at once — such as the First Home Owner Grant (FHOG), stamp duty exemption, and First Home Guarantee.
2. Do I need a conveyancer or a lawyer?
A licensed conveyancer or property lawyer ensures your contract and title are legally sound. At Platinum Lawyers, our team includes both, providing full legal coverage for your transaction.
3. Can I buy an existing property?
Some schemes, like the Shared Equity Home Buyer Helper, allow for both new and existing homes. Others, such as the FHOG, apply only to new builds.
4. What if I’m buying with a partner?
You can still apply for most grants jointly, as long as both buyers meet the eligibility requirements.
5. Do I need to live in the home?
Yes. Most grants require you to occupy the home as your principal place of residence for at least six to twelve months after purchase.
6. How much deposit do I need?
With the First Home Guarantee, eligible buyers can purchase with as little as 5% deposit — and without paying Lenders Mortgage Insurance (LMI).
7. Can I use the grant as part of my deposit?
Yes, the First Home Owner Grant can be used toward your deposit or upfront costs, depending on your lender’s policy.
8. What costs should I budget for besides the deposit?
You’ll need to account for legal fees, building inspections, insurance, and moving costs, plus any stamp duty not covered by exemptions.
9. What happens if I move out before the required period?
You may have to repay part or all of the grant or face penalties. Always seek legal advice before making changes to your occupancy.
10. How do I know if I’m eligible for assistance?
Eligibility varies by state and program. Factors include citizenship, income, property value, and whether you’ve owned property before.
11. Can I buy land first and build later?
Yes — for the FHOG and some state schemes, you can buy vacant land and then build within a set timeframe (usually 12–24 months).
12. How can Platinum Lawyers help?
We guide first home buyers through every legal and contractual step — from reviewing contracts to applying for grants — ensuring your purchase is secure, compliant, and stress-free.
Why Choose Platinum Lawyers for Conveyancing in Sydney
Buy smart, buy safe – Platinum Lawyers guide the way Simple. Low Cost. Low Risk.
Fixed-fee conveyancing with no hidden charges
Over 20 years of experience in property law and conveyancing
Offices conveniently located in Sydney CBD and Parramatta
A trusted team led by Director Robert Nasr
Proven record of achieving optimal client outcomes
We take pride in offering a personalised and affordable service while maintaining the highest professional standards. From your first consultation to the day you collect your keys, we’ll be by your side every step of the way.
Turning Homeownership Dreams into Reality
Government assistance programs have transformed the landscape for first home buyers in NSW, providing financial relief and real opportunities to enter the market. However, understanding eligibility rules, legal obligations, and the conveyancing process can be complex.
That’s where Platinum Lawyers comes in. With our expert conveyancing services, fixed-fee pricing, and deep understanding of NSW property law, we make your first home purchase simple, safe, and successful.
📞 Contact Platinum Lawyers Today
If you’re planning to buy your first home, our property lawyers and conveyancers are ready to guide you through every stage.
📍 Sydney CBD & Parramatta Offices
📞 Call (02) 8084 2764
🌐 Visit www.platinumlawyers.com.au
Let Platinum Lawyers help you secure your dream home — with clarity, confidence, and complete legal protection.