Exciting news for aspiring first home buyers in Queensland
Exciting news for first home buyers! The Queensland Government has announced a cash boost for eligible first home buyers, meaning the Great Australian Dream of homeownership may be closer than you think.
Any eligible homeowner entering into a contract on or after Monday, November 20 can benefit from the grant increase, which has doubled from $15,000 to $30,000.
Let’s take a look at the first home owner grant and how it can assist young Queenslanders to get their foot on the property ladder sooner.
What is the first home owner grant?
Queensland’s first home owners’ grant is a government initiative that gives eligible first home buyers an extra bit of help to get into the property market.
The Queensland grant gives eligible buyers $30,000 towards the purchase of a new house, unit and townhouses — you can even buy off the plan or choose to build yourself.
Who can access the grant?
If you’re looking to cash in on this increased grant, you will need to be:
- Buying or building a new home valued less than $750,000 (including land and any contract provisions)
- 18 years or older, and this must be the first residential property you’ve owned in Australia
- Purchasing a home that has not been lived in or sold as a place of residence at the time of completion
The transaction must fall under one of the following eligible transactions:
- New home
- Off-the-plan purchase
- Substantial renovation
- Contract to build
- Owner-builder
- Includes house, unit, duplex or townhouse; or a granny flat on a relative’s land; kit or modular homes and substantially renovated homes.
Can I use this grant to purchase at Elliot Springs
You can! Work with us and our builder partners today to find something that suits you and your growing family’s needs. Our friendly sales team is on hand to discuss how your dream home at Elliot Springs can satisfy the eligibility criteria for the first home owner grant and meet the 7-star National Construction Code 2022 requirements.