You should see if you’re eligible for the First Home Owner Grant. A raft of state and federal government incentives designed to stimulate the property market are giving first-home buyers an unprecedented level of support. If you’re eligible, you’ll potentially benefit from a grant worth thousands of dollars, depending on whether you’re looking to buy in the city or the regions, building new or buying an existing home, the combined government assistance could be worth up to $30,000 or more.
The First Home Owners Grant is only ever available once, on your very first property purchase; as soon as you become a homeowner, you’re not eligible for this concession again.
The Queensland First Home Owners’ Grant is a state government initiative to help first home owners to get their new first home sooner.
If your contract is dated 1 July 2018 or later, you can get the Queensland grant of $15,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000). The grant is paid per new home; not to each of the applicants for the same home.
The grant amount has varied since it was first introduced in 2000. Contracts dated earlier than 1 July 2018 may still be eligible for a grant.
You can buy off the plan or choose to build yourself.
To be eligible for the grant:
- You must be at least 18 years of age.
- You must be an Australian citizen or permanent resident (or applying with someone who is).
- You or your spouse must not have previously owned property in Australia that you lived in.
- You must be buying or building a brand new home.
- The value of the new home including the land is less than $750,000.
- You must intend to move into the new home as your principal place of residence within 1 year of the completed transaction and live there continuously for 6 months.
At Scenic Realty we work closely with Total First Home Solutions to educate our clients about current market conditions, guide them through each step of the process and make referrals to other professionals, such as mortgage brokers and real estate conveyance services.
A good real estate agent will source the market for homes that meet your needs and guide you through the negotiation and closing process. Speak to one of our recent home buyers about their success story. When engaging with one of our Scenic Realty agents, ask about their experience helping first-time home buyers just like you in the market and how they plan to help you find a home. We will be with you every step of the way.
Contact one of our agents today to learn more.
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