First Home Owners Grant
The first home owner’s grant has been boosted from $15,000 to $20,000 starting on the 1st July 2016.
So if you’re thinking of buying or building a new home, this could be what gets you started.
While $20,000 is a substantial gift to first homebuyers struggling to get a foothold in the ladder, it’s only available to those who purchase a newly constructed home and has been extended until 30th June 2018.
To be eligible for the grant:
- 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.
- You must be at least 18 years of age.
- You must be buying or building a brand new home, valued under $750,000.
Note: The $20,000 Queensland First Home Owners’ Grant is not available to contracts that replace previous contracts entered into before 1 July 2016.