The agreement or transfer must be to acquire either a first home, or a vacant block of residential land intended to be the site of a first home.
For contracts that exchanged on or after 1 July 2017 and before 1 July 2023, you or one of the other eligible first home buyers must:
move into the home within 12 months after buying the property, and
live there for at least 6 continuous months which may mean no more than 2 weeks holiday in that 6 month.
For contracts that exchange on or after 1 July 2023, eligible first home buyers will receive an exemption from transfer duty for purchases of new and existing homes up to $800,000 and a concessional rate of duty for homes up to $1,000,000.
For contracts that exchange on or after 1 July 2023, You or one of the other eligible first home buyers must:
move into the home within 12 months after buying the property, and
live there for at least 12 continuous months – we assume which may mean no more than 4 weeks holiday per year away from the home however, this has not been confirmed by NSW Revenue.
Please see the following link for more information:
https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/assistance-scheme#heading5