Are you a first home buyer QLD who’s ready to make the leap into home ownership? This guide breaks down the FHOG QLD (First Home Owners Grant QLD) and the other grants and schemes available to help you buy or build your first home in Queensland:
These schemes apply to a range of property types, including new homes, house and land packages, and substantially renovated homes. Similar first home owner grants exist in states and territories right across Australia, from South Australia to Queensland, so if you’re comparing options interstate it pays to check the rules that apply where you’re buying. Whichever pathway suits you, these grants and concessions are designed to help you find a place to call home sooner, with less financial strain.
1. First Home Owners Grant (FHOG QLD)
- Benefit: If eligible, receive $15,000 or $30,000 towards buying or building your new home.
- Link: QLD First Home Owners Grant Eligibility
2. First Home Concession
- Benefit: In addition to the grant above, you can also enjoy a concession on stamp duty, reducing the financial burden of purchasing your first home.
- Link: QLD First Home Concession
3. Regional Home Building Boost Grant
- Benefit: Eligible applicants receive $5,000 after the purchase or construction of a brand-new house, unit, or townhouse in regional Queensland.
- Link: QLD Regional Home Building Boost Grant
4. First Home Guarantee
- Benefit: Banks will offer a 15% guarantee of the property, resulting in no Lenders Mortgage Insurance (LMI).
- Link: First Home Guarantee
5. Family Home Guarantee
- Benefit: The Family Home Guarantee (FHG) supports eligible single parents and single legal guardians with at least one dependent to buy a home sooner, requiring as little as a 2% deposit.
- Link: Family Home Guarantee Information Guide
6. Regional First Home Buyer Guarantee
- Benefit: This Australian Government initiative aids eligible home buyers in purchasing a home sooner, particularly in regional areas. Administered by Housing Australia on behalf of the government.
- Link: Regional First Home Buyer Guarantee
7. First Home Super Saver Scheme
- Benefit: Finally, the FHSS scheme allows you to save money for your first home in your super fund, providing a tax-effective way to save. Changes to the scheme will commence on 20 September 2024.
- Link: First Home Super Saver Scheme
With the Queensland First Home Buyers Grant and the other schemes above, you can navigate the path to home ownership with greater ease and financial support. Take advantage of these opportunities to turn your dream of owning your first home into a reality. If you have questions about your eligibility or want to talk through your options, book a free call with our team — we’re here to help you every step of the way! 🏡💼