QLD First Home Buyers Grant Summary 2021
QLD FIRST HOME BUYER SUMMARY

QLD First Home Buyers Grant Summary 2021

QLD First Home Buyers Grant Summary

Are you confused about what grant(s) you can receive as a first home buyer in Queensland? We have developed a quick summary below. Grants change regularly, so it is always a good idea to review the state governments website to confirm your eligibility or simply contact us.

Essentially, there are 5 main grants;

Australian Government HomeBuilder

  • $15,000 grant
  • New house and land packages up to $950,000
  • Renovate your existing residence where the contract value is between
  • $150,000 – $950,000 and the total value of your house does not exceed $1,500,000
    Further details here

QLD First Home Buyers Stamp Duty Discounts – established/new homes

  • If you’re buying vacant land to build your first home, you pay zero stamp duty as long as you pay $400,000 or less for your block. That’s a saving of $5,250 on the regular cost of stamp duty.
  • If your first home is valued up to $500,000, you pay zero stamp duty. That’s a saving of $8,750, which is the maximum stamp duty rebate available to first home buyers in Qld.
  • Savings on stamp duty may still be available if you pay between $500,000 and $550,000 for your first home. As a guide, if your first home is worth $505,000, you pay stamp duty of $1,050, a saving of $7,875. These savings cut out altogether if your first home costs $550,000 or more. On a property valued at $550,000, for example, the stamp duty would work out to be $10,600.

QLD First Home Owners Grant

  • $15,000 grant
  • Newly constructed dwelling with a value less than $750,000
  • House and land packages with a value less than $750,000

Australian Government First Home Loan Deposit Scheme

  • Allows you to take out a mortgage with just a 2-5% deposit and avoid paying lender’s mortgage insurance (LMI).
  • Further details here

Australian Government First Home Super Saver Scheme

  • Allows you to access up to a total of $50,000 contributions of your voluntary concessional (before-tax) and voluntary non-concessional (after-tax) contributions into your super fund to save for your first home.
  • Further details here

CALL US for details on which scheme(s) applies to you.