First Home Owner Grant - $15,000
The Queensland First Home Owner Grant is a $15,000 Grant payable on settlement when you purchase a new home. The Grant can be considered as part of your deposit when being assessed by the Bank for your borrowing capacity. Please refer to the eligibility criteria in the below download for further information. The Queensland Government also provides support by way of exemption of Stamp Duty on your purchase up to $500k, as well as free Council Rates for the first year.
HomeBuilder Grant - $25,000
The Federal Government introduced the Homebuilder Grant this year for a limited period of time to stimulate the construction industry during the Covid-19 pandemic. This Grant enables you to access $25,000 towards the purchase of an Off The Plan property which commences in the allocated time period. The HomeBuilder Grant can be used in conjunction with the First Home Owners Grant, making it particularly attractive to young buyers providing total Grants of $40,000. You do not have to be a first home buyer to access this grant, but there are other criteria such as income limits which are detailed in the below link. Download the Home Builder Grant Brochure to see if you qualify.