First Home Buyer Choice has commenced and eligible first home buyers are now able to ditch upfront stamp duty in favour of a smaller annual fee on properties purchased up to $1.5 million.
The initiative is open for eligible first home buyers who bought after 11 November 2022 when the initiative became law, can opt into the annual fee and will receive a stamp duty refund within 10 business days, while those who’ve bought in the last two months can now apply for a refund.
Member for Willoughby Tim James welcomed the launch of the initiative.
“First Home Buyer Choice will shave years off the time needed to save for a property and help them achieve their dream of home ownership,” Mr James said.
The program is part of the NSW Government’s $2.8 billion Housing Package announced in the 2022-23 Budget, which aligns with the Housing 2041 vision.
For more information, visit https://www.nsw.gov.au/initiative/first-home-buyer-choice