First-time homebuyers in NSW can opt for the First Home Buyer Choice scheme which allows them to forgo upfront stamp duty payment in exchange for an annual property tax. They can also benefit from the First Home Guarantee scheme, which guarantees part of their home loan and helps them to purchase a property with as little as a 5% deposit. Additionally, they may be eligible for the First Home Buyers’ Grant and the First Home Super Saver Scheme.