Making home ownership more achievable is one step closer with an online calculator now available to help eligible NSW first home buyers choose between a small annual property payment or paying a bigger upfront stamp duty.
Under First Home Buyer Choice, eligible first home buyers will have the choice of a smaller annual property payment or a traditional upfront payment for properties with a purchase price of up to $1.5 million.
Tanya Davies, Member for Mulgoa welcomed this game-changing reform that will help first home buyers get into their homes years sooner.
“The NSW Liberals and Nationals are building a brighter future by making it easier for first home buyers to get into their homes sooner,” Mrs Davies said.
“The First Home Buyer Choice will give first home buyers a choice on which pathway to home ownership best suits their financial circumstances and personal aspirations.
“The First Home Buyer Choice calculator is an important online tool that makes it easy for first home buyers to make the decision that is right for them.”
Legislation for the First Home Buyer Choice, which was announced in the 2022-23 NSW Budget as part of the Government’s integrated $2.8 billion housing package, will soon be introduced into Parliament.
For more information on the First Home Buyer Choice, go to https://www.nsw.gov.au/initiative/first-home-buyer-choice
To view the calculator, go to