From January 1, 2016, first-home owners who buy new or build new will face a reduction in the First Home Owner Grant (New Homes) scheme from $15,000 to $10,000.
Kerri-Ann Hooper, of Newcastle-based Carnelian Projects, said though the new year might seem a long way away, finding the perfect home or home design could take some time.
"We're letting our clients know now that changes to the grant are on the way because $5000 is a significant amount of money when you're building a home," she said.
"That extra money could easily cover all of the kitchen appliances or could be put towards an extension such as an alfresco area."
Carnelian Projects recently completed three of the same house designs in the same street for first-home owners, all in their 20s.
One of the couples, Todd Richardson and Alexandra Rampano, had considered buying an old house to renovate but found it was cheaper to build a new home.
Mr Richardson said the grant, as it stands at $15,000, was a great incentive because it covered their stamp duty.