Government Grants

GOVERNMENT GRANTS

FIRST HOME OWNER GRANT

The first home grant is a government scheme that was introduced in 2000 to offset the effect of Goods and Services Tax (GST) on buying or building a home.

It’s a one-off payment for eligible first home buyers who purchase or build a residential property to live in. The First Home Owner Grant isn’t means tested, which means the eligibility criteria isn’t based on financial considerations, such as your income.

 

HOW DOES IT WORK?

 
The grant amount, eligibility criteria and payment details of First Home Owner Grants vary between states and territories, so it’s important to check with your home lender when you apply for a home loan. Usually, you may be eligible if you:
 
  • Are a permanent resident or citizen of Australia
  • Have never received the grant or owned residential property
  • Are the minimum age set by your state or territory
  • Are buying a new or established home as an individual (not a company or trust)
  • Will live in the residence for the minimum time determined by your state or territory (the grant is not available on investment properties)
  • Apply for the grant within 12 months of settlement.

The grant is usually paid at the time of settlement to your home lender and applied directly to your home loan. If you are building the home, the grant will be approved when your first loan repayment is due.

Some state and territories have additional grants for first home buyers who purchase or build a home, especially in regional areas. We can help you apply for the First Home Owner Grant and any other benefits you are eligible for when you apply for a home loan.

 

QUEENSLAND FIRST HOME GRANT

How much is the first home buyers grant QLD?
How much is the first home buyers grant QLD?
$20,000 First Home Buyers Grant
$20,000 First Home Buyers Grant
Buying a new home
Yes, if contract signed after 1/7/2018
Yes, if contract signed after 1/7/2018
Yes
Buying a new home
Yes, if contract signed after 1/7/2018
Yes, if contract signed after 1/7/2018
Yes
Buying an established (or existing) home
No
No
Yes

ELIGIBILITY FOR THE
$15,000 FIRST HOME GRANT?

You can take our eligibility test to see if you can apply for the $15,000 home owners grant.
 
The rules of the first home owners grant apply all borrowers. Your age, residency status, whether you have received the grant before and the type of property you are looking at buying or building are all relevant factors.
 
Here is a step by step guide.

1. PREVIOUS HOME OWNERSHIP

The First Home Owners Grant (FHOG) was created to help people into their first home, so you cannot have owned (or partially owned) property before. This also where your spouse, or partner has owned or partly owned property before.
 
If your partner has owned a property before and they fall under the Queensland Government’s definition of partner (that is, married, or living together on a ‘genuine domestic basis’ for 2 years or more) you may not be eligible for the $15,000 first home owners grant.
 
If you are not able to apply for the $15,000 grant, you may still be able to apply for a stamp duty rebate.

2. THE TYPE OF PROPERTY

To qualify for the FHOG in Queensland, you need to be buying a brand new home, or building a new home. The FHOGis not available on existing homes or homes that have been lived in before.
 
The type of property you select will affect your eligibility to obtain the FHOG in Queensland. You may be able to obtain the FHOG if you are purchasing a property that has been substantially renovated.The Queensland Government defines substantially renovated properties as involving structural building work such as:
 
  • replacing or altering foundations
  • replacing or altering floors or supporting walls (interior and exterior)
  • lifting or modifying roofs
  • altering brickwork to replace existing windows and doors
 
The Queensland Government does not consider a home to be substantially renovated if only cosmetic work like painting has been done, or a new kitchen has been put in for example.

3. YOUR PROPERTY PURCHASE VALUE

Regardless of whether you are buying a brand new home, or building one, the total value of the home needs to be under $750,000 for you to be eligible to receive the FHOG.

If you are building, the total cost of your land added to your building costs (plus any additional variations like fences, solar panels, landscaping, etc) must be under $750,000.

For example, if you paid $350,000 for a block of land, the cost of construction came to $400,000 and landscaping costs were $50,000, it would mean your total purchase price or property value would be $800,000 and you would be ineligible for the grant.

But, if you paid $200,000 for your land and the cost of construction came to $244,000 your total property value would be $444,000 and you would be eligible for the FHOG.

4. YOUR AGE AND NEED TO BE AN AUSTRALIAN CITIZEN
(OR PERMANENT RESIDENT)

To qualify for the FHOG in Queensland you must be at least 18 years old, and you (or your partner) must be an Australian citizen or permanent resident. In either case, you and your partner cannot have received the Queensland FHOG or any other home ownership grant in Australia.

Still Have Questions?

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FAQ

Check some of the important answers to First Home Buyers