Get your first home sooner with the Great Start Grant!
In 2012, the Queensland Government increased its grant for first home owners who are buying or building a new home. The Great Start Grant (previously known as the First Home Owner Construction Grant)and other transfer concessions help first home owners to get their new first home sooner.
You’ll get $15,000 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 $15,000 Great Start Grant can help you
- If you're thinking of buying or building a new home this could be what gets you started
- You'll get $15,000 towards buying or building your new house, unit or townhouse
- The grant is only available and capped at $750,000
- You can even buy off the plan or choose to build it yourself
- It could get you something more then you were expecting
How to know if you are eligible
- You are at least 18 years of age and an Australian citizen or permanent resident (or you're applying with someone who is).
- You are building or buying a new home, the $15,000 grant is only available for newly constructed or substantially renovated homes.
- You or your spouse have not previously owned property in Australia or received a grant before.
- The home (including the land) is under $750,000 and you live in it for at least six consecutive months.
- You must move into the home as your principal place of residence within 12 months of completing the transaction.
How long does it take to get it?
Most applications are processed within 10 working days of receiving all required information. If you apply through an approved bank or lending institution, you will need to check with them how long it will take them to process the application.
For more information go to https://greatstartgrant.osr.qld.gov.au/
First Home Concession
QLD first home owners may also be eligible for the transfer duty concession. This may allow those who purchase a home valued at under $550,000 to live in as their principal residence to receive the First Home Concession. The concession is calculated on a sliding scale.
To see the difference between the different grants go to https://www.osr.qld.gov.au/client-group/first-home-buyer/fhog-duties-concession-comparison.shtml
First Home Vacant Land Concession
First home buyers purchasing vacant land valued between $250,000 and $400,000 (that they plan to build their first home on) may receive the First Home Vacant Land Concession.
Visit https://www.osr.qld.gov.au/duties/transfer-duty/exemptions-and-concessions/first-home-vacant-land.shtml to see if you are eligible.