How much deposit do I need to buy in NSW in 2026?
Less than most people think, and more than the deposit alone. Eligible buyers can use a 5% deposit under the government scheme. Your real number is that deposit, plus stamp duty, plus fees, at your price.
Key takeaways
- With the 5% Deposit Scheme, eligible buyers need 5% of the price, up to a $1.5 million cap in Sydney.
- NSW first home buyers pay no stamp duty on an established home up to $800,000, and full duty from $1 million.
- On an $850,000 first home, the real number is about $56,297: $42,500 deposit, $9,797 duty and about $4,000 of costs.
- If you’ve owned before, the same home needs about $78,937, because duty is $32,437.
Deposit and stamp duty at four prices
An established home in NSW. The deposit at 5%, 10% and 20%, and the duty for first home buyers and for everyone else.
| Price | 5% | 10% | 20% | Duty, first home | Duty, owned before |
|---|---|---|---|---|---|
| $700,000 | $35,000 | $70,000 | $140,000 | $0 | $25,687 |
| $850,000 | $42,500 | $85,000 | $170,000 | $9,797 | $32,437 |
| $1,000,000 | $50,000 | $100,000 | $200,000 | $39,187 | $39,187 |
| $1,200,000 | $60,000 | $120,000 | $240,000 | $48,187 | $48,187 |
Duty from my NSW calculator, checked against Revenue NSW’s worked examples. Established home, eligible buyers, 2026–27 rates. Illustrative.
What does it really cost to buy an $850,000 home?
Here’s the full cash list for a first home buyer using the 5% Deposit Scheme on an established home in Sydney.
| 5% deposit | $42,500 |
|---|---|
| Stamp duty, first home buyer | $9,797 |
| Conveyancing, inspections, registration and lender fees | about $4,000 |
| Your real number | about $56,297 |
Illustrative. The $4,000 is an allowance, not a quote. Moving costs and any repairs come on top.
If you’ve owned before, swap in $32,437 of duty and the number becomes about $78,937. That $22,640 gap is the one that surprises people.
How much deposit do I need without the scheme?
Lenders commonly want 20% to lend without lenders mortgage insurance. On an $850,000 home, that’s $170,000 before duty and fees. Some lenders lend with less, at a cost, and profession policies may apply for eligible accountants and medical professionals.
Is 5% enough in NSW?
Under $800,000, often yes for first home buyers, because there’s no duty. Between $800,000 and $1 million, the duty climbs steeply. From $1 million to the $1.5 million cap, first home buyers pay full duty: $63,787 at $1.5 million, against a $75,000 deposit. At the top of the cap, duty is almost as much as the deposit.
New homes
Buying or building new may also bring the $10,000 First Home Owner Grant, within its value caps. Try the stamp duty calculator with “new home” selected.
Questions clients ask
How much deposit do I need to buy a house in NSW?
With the 5% Deposit Scheme, 5% of the price for eligible buyers, or 2% for eligible single parents, under a $1.5 million cap in Sydney and the regional centres. Without a scheme, lenders commonly want 20% to avoid lenders mortgage insurance. On top of the deposit, you need stamp duty and fees.
Do first home buyers pay stamp duty in NSW?
Not on an established home up to $800,000. Between $800,000 and $1 million, they pay a reduced amount, and from $1 million they pay full duty. At $850,000 that’s $9,797; at $1 million it’s $39,187.
What other costs are there when buying a home in NSW?
Conveyancing or legal fees, building and pest inspections, the fees to register the transfer and the mortgage, and any lender fees. Allow a few thousand dollars on top of the deposit and duty, plus moving costs.
Is the First Home Owner Grant available in NSW?
Only for new homes. The NSW First Home Owner Grant (New Homes) is $10,000 for eligible first home owners buying or building a new home under the value caps. It isn’t available for established homes.
Can I buy in NSW with less than 5%?
Possibly. Eligible single parents can use a 2% deposit under the scheme, Help to Buy starts at 2% under income caps, and a family guarantee can cover the deposit. Each has a catch, and stamp duty still has to be paid.
Read next
Get your real number in one 30-minute session.
Then set your own pace.
So your next lease could be your last.