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 4 main grants;
QLD First Home Buyers Stamp Duty DiscountsÂ
- If you’re buying vacant land to build your first home, you pay zero stamp duty as long as you pay $250,000 or less for your block.
- If your first home is established and valued up to $500,000, you pay zero stamp duty.
- Additional savings on stamp duty (for established properties) may still be available if you pay between $500,000 and $550,000 for your first home.
QLD First Home Owners Grant
- $30,000 grant – (increased from $15,000 recently – see here)
- 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
Still confused? Why not book an appointment with us today to discuss your individual circumstances? What have you go to lose!?
