Some flood-affected homeowners in NSW’s Northern Rivers region have received initial offers for home buybacks from the Northern Rivers Reconstruction Corporation (NRRC) as part of a joint federal and state government initiative.

The Resilient Homes Program will offer eligible applicants a buyback proposal to purchase the land and house based on a determined amount.

Approved homeowners could also be entitled to funds of up to $100,000 for home elevation projects and up to $50,000 for the implementation of flood-resilient designs to their property.

Federal Emergency Management Minister Murray Watt says the $700 million program will provide northern NSW residents with significant support to help "re-establish their lives after devastating floods".

"By getting people out of harms' way we can help to prevent repeats of the life-altering floods we've seen in the last few years in the Northern Rivers," Mr Watt said.

"This package is about protecting families and properties from future floods, and is one of a number of recovery supports being offered in the region."

The NRRC aims to send buyback offers to at least 250 residents by April, with a priority placed on homes located in the region's highest flood-risk area.

NRRC CEO David Witherdin says the buybacks present a "life-changing" opportunity for locals who continue to recover from historic floods throughout last year.

"I cannot overstate the scale, complexity and importance of the Resilient Homes Program and want everyone to know we are committed to working with and listening to the community, ensuring homeowners have the information they need and providing access to independent support and advisory services," Mr Witherdin said.

He says the body aims to finish contacting registered applicants for the program shortly and plans to commence building works by mid-year.

NSW Deputy Premier and Regional Minister Paul Toole says the first offered buybacks mark an "important milestone" for the state's recovery project. The program builds on the $3.5 billion committed by governments to help flood-affected communities.

"This can give the community the confidence that we are moving forward with our promised support and confirms we will leave no one behind on the recovery ahead," Mr Toole said.

"This program allows flood-affected locals to weigh up their options on their own terms and in their own time – and puts support around them through that process."

Registration for the opt-in program remains open. Information regarding eligibility for the program can be found on the NSW Government's website.

Click here for more information.