Living near the border gives you a choice most first home buyers don’t get: two states’ grants and two states’ transfer duty rules (transfer duty is the state tax on buying property, usually called stamp duty), all within a short drive. I’m Steph, a first home buyer mortgage broker on the Tweed Coast, and the question I hear most is simply “which side works out better for me?” The honest answer is that it depends on what you buy, more than where you buy. So rather than another table of rules, this guide walks through the kinds of purchases I see every week and shows which grant, duty concession and price cap applies to each one, and why.
If you want the full scheme-by-scheme detail, including Help to Buy and the First Home Super Saver, that lives on my government schemes and concessions page.
The property decides, not your address
This is the rule that trips people up. First home grants and duty concessions follow the location of the property you buy. It doesn’t matter where you live now, where you work or which state your driver licence is from. Buy in Banora Point while renting in Palm Beach and it’s the NSW rules. Buy in Coolangatta while working in Tweed Heads and it’s Queensland’s.
The federal 5% Deposit Scheme works the same way. It’s one national scheme, but the price cap that applies is the one set for the property’s area. I explain the scheme itself in the First Home Guarantee explained.
The short version
Here are the headline numbers for a first home buyer who will live in the property.
| Item | NSW (Tweed side) | QLD (Gold Coast side) |
|---|---|---|
| First Home Owner Grant (new homes only) | $10,000, new home up to $600,000 or land plus build up to $750,000 | $30,000, new home valued under $750,000 |
| Transfer duty, home | None up to $800,000, reduced up to $1,000,000 (new or established) | New home: none, at any price. Established: none up to $700,000, reduced up to $800,000 |
| Transfer duty, vacant land | None up to $350,000, reduced up to $450,000 | None, at any price |
| 5% Deposit Scheme price cap | $1,500,000 | $1,000,000 |
Figures checked 9 November 2026. Check current rules with Steph.
Five worked examples
The prices below are round numbers I’ve picked to show how the thresholds fall, not valuations or quotes. I’ve kept the duty outcome qualitative on purpose. For an actual figure on a specific price, use the stamp duty calculator with first home buyer ticked.
1. An established unit at around $650,000
Example only, not a quote
Coolangatta (QLD): an established home under $700,000, so the Queensland first home concession could take transfer duty to nil. No grant, because the grant is for new homes only. The price sits under the Gold Coast 5% Deposit Scheme cap of $1,000,000.
Banora Point (NSW): under the NSW exemption threshold of $800,000, so no transfer duty for an eligible first home buyer. Again no grant, and the price is well inside the Tweed cap of $1,500,000.
Why it matters: at this price the two sides look almost identical. The gap opens if the price creeps up. Past $700,000 the Queensland side moves to a reduced concession, while NSW stays at nil until $800,000.
2. A new house-and-land package at around $720,000
Example only, not a quote
Kings Forest (NSW): land plus build under $750,000, so you may be eligible for the $10,000 NSW grant. Where the land and the build are on separate contracts, how the duty is assessed depends on the contracts, so your conveyancer (the licensed professional who handles the legal side of the purchase) confirms which thresholds apply.
Southern Gold Coast (QLD): a new home valued under $750,000, so you may be eligible for the $30,000 Queensland grant, and the first home concession on a new home means no transfer duty, whatever the price.
Why it matters: new builds are where Queensland is usually more generous on paper. But the grant caps are hard lines. A few upgrades to the build can push the total over a cap and the grant disappears entirely, so I check the contract figures before you sign. Building also means a construction loan paid in stages. See how construction loans work, or read about Kings Forest construction loans.
3. A block of vacant land at around $400,000
Example only, not a quote
NSW side: above the vacant land exemption of $350,000 but under $450,000, so a reduced amount of duty is payable rather than nil.
QLD side: the first home concession on vacant land means no transfer duty, at any price, provided you build and move in within the time Queensland allows.
Why it matters: neither grant is paid on land alone. It’s paid on the finished home, so the land price plus the build has to fit under the grant cap. The 5% Deposit Scheme is built around buying a home to live in, so if you’re starting with land, I check with the lender how the scheme fits your build.
4. An established house at around $900,000
Example only, not a quote
Kingscliff (NSW): above the $800,000 exemption but under the $1,000,000 concession ceiling, so you could pay a reduced amount of duty. Under the Tweed 5% Deposit Scheme cap.
Gold Coast (QLD): above $800,000, so the Queensland first home concession on an established home no longer applies and duty is noticeably higher. Still under the Gold Coast cap of $1,000,000.
Why it matters: in this price band NSW usually comes out ahead for an established home. Flip it to a brand-new home on the Queensland side and the picture changes again: no duty on a new home, but at this price it’s over the $750,000 grant cap. If you’re looking in Kingscliff or similar suburbs, it’s worth running both sides through the calculator.
5. A Gold Coast worker buying on the Tweed
Example only, not a quote
The situation: you live and work on the Gold Coast, and you buy an established townhouse in Banora Point at around $700,000.
What applies: NSW rules, because the property is in NSW. That’s under $800,000, so no transfer duty for an eligible first home buyer, and the Tweed 5% Deposit Scheme cap of $1,500,000 applies. Your Queensland payslips don’t change any of that.
Why it matters: most lenders don’t mind which state your income comes from. They look at the income itself, your expenses and your deposit. Where it needs more care is self-employed income or a business registered in the other state, and that’s worth raising early. Lenders assess your income and expenses the same way wherever you buy, though some limit loan size by postcode or property type, so check your borrowing power and then ask what that budget buys on each side.
Figures checked 9 November 2026. Check current rules with Steph.
Moving in and staying put: each state’s rules
Every one of these concessions assumes you’ll live in the home. If you don’t meet the rules, the state can ask for the money back. In broad terms:
- NSW duty concession: move in within 12 months of settlement and live there for at least 12 continuous months.
- NSW grant: for contracts from 1 July 2023, live in the home for 12 continuous months.
- QLD duty concession: move in within 12 months for a home, or within 2 years for vacant land you build on. From 1 August 2026, Queensland’s home concessions need you to be an Australian citizen, permanent resident or specified foreign retiree.
- QLD grant: live in the home for 6 continuous months, starting within a year of settlement or completion.
- 5% Deposit Scheme: owner-occupiers only, citizens and permanent residents. If you don’t move in on time, or move out early while the guarantee is in place, the lender may charge LMI (lenders mortgage insurance, a one-off premium that protects the lender if the loan goes bad).
These are summaries, and the details have exceptions. Check current rules with me before you sign, especially if you’re planning to rent the place out later.
How to compare the two sides like for like
The mistake I see most is comparing an established unit on one side with a new build on the other, then deciding one state is “cheaper”. A fair comparison looks like this:
- Same type of property: new vs established changes both the grant and the duty on each side.
- Total upfront cost, not just the price: duty, any grant, conveyancing, inspections and loan costs.
- Each scheme’s own cap: the 5% Deposit Scheme, the grants and Help to Buy all set different caps, even for the same street.
- Your deposit: with a deposit under 20%, using the 5% Deposit Scheme with a participating lender can avoid LMI, which often matters more than the duty.
- How long you’ll stay: the residence rules above, plus commute, flood maps and estate covenants.
The 5% Deposit Scheme needs a deposit of at least 5% and less than 20% of the lender-assessed value, and the loan must come from a lender on the official list of participating lenders (opens in a new tab). My first home buyer checklist for the Tweed and Gold Coast covers the local checks worth doing before you commit.
Getting a real answer for your situation
Worked examples only go so far. Your income, your deposit, the exact property and whether it’s new or established all change the result. Before you make an offer I can get you pre-approval (a lender’s conditional yes to a set loan amount), check the property against each scheme’s cap and line up the duty and grant with your conveyancer. If you’re weighing up both sides of the border, talk to Steph about your first home.