The Queensland Government has announced that the boosted $20,000 First Home Owners’ Grant has again been extended until 30 June 2018!
This is great news for all first home buyers still looking to get into the property market and need that little bit longer to save more of a deposit or have a more permanent status at their current job.
More information about the grant and whether or not you’re eligible can be found here.
We’ve also pulled together a few FAQs below.
What is the Queensland Government First Home Owners’ Grant?
The Grant is a state government initiative to help first home owners to get their new first home sooner. You’ll get $20,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000). You can even buy off the plan or choose to build yourself. It’s a great opportunity to buy or build a new home in our great state.
How a Queensland First Home Owners’ Grant can help you
- If you’re thinking of buying or building a new home, this could be what gets you started
- It could get you something more than you were expecting
- It can get you into your first home sooner
The closing date for the $20,000 Queensland First Home Owners’ Grant has been extended to 30 June 2018. If your contract to purchase or build is signed between 1 July 2016 and 30 June 2018, you may be eligible to apply for the $20,000 grant.
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
Can I get the grant if I buy an established home?
No, it’s only available for newly constructed or substantially renovated homes purchased on or after 1 July 2016.
When can I move into my house?
You must move into your home within 1 year of the completed eligible transaction and you must live there for at least 6 months continuously in order to keep the grant.
Can I use the grant as part of the deposit?
Many lenders will now consider the grant as part of your initial deposit.
At Urbane Homes we’ve got house and land packages all over South East Queensland to suit all budgets and design ideas, check them out here.