First Home Buyers Grant Queensland – Eligibility and Application Guide

Eligibility Criteria

To be eligible for the Queensland First Home Owners’ Grant, you must:

First Home Buyers Grant Queensland

The First Home Buyers Grant in Queensland is a financial boost offered by the Queensland Government aimed at making it easier for first-timers to get onto the property ladder. The idea behind the grant is to help offset the costs associated with buying or building a brand new home. It’s designed to stimulate the construction industry while also assisting individuals and families to achieve their dream of home ownership.

Given that purchasing a first home is a significant financial commitment, the grant endeavours to reduce the economic burden on first-time buyers, thus encouraging more people to invest in their own home rather than renting.

How can investors benefit?

While investors cannot access the first home owners’ grant in Queensland, they may still benefit from the initiative indirectly. The increased demand for new properties created by the grant can lead to higher property values and potential capital gains for investors who own existing properties in the area.

Ultimately, when you purchase a new home as your sole or main residence, you become a property investor. While you may not be in a position to rent out your property initially, it can become an option down the track. This means that if you are eligible for the first home owners’ grant in Queensland, you can use it to kickstart your property investment journey.

How much is the First Home Owner Grant in Queensland?

For those buying or building a new home:

• $30,000 for contracts signed between before 30 June 2025

For owner-builders:

• $30,000 if foundations laid before 30 June 2025

Recently, we saw a doubling of the first home owners’ grant in Queensland from $15,000 to $30,000. This increase was designed to provide a boost to the construction industry and stimulate economic growth after the impacts of COVID-19.

Applying for First Home Owner Grant Queensland

During the application process for the Queensland FHOG, there are a few important things to keep in mind:

How to Apply

There are two ways to submit your application:

1. Through an approved agent, such as a bank or lending institution.
2. Directly to the Queensland Revenue Office.

When to Apply

It is crucial to apply and provide the necessary supporting documents within the specified timeframes:

1. New home purchases: You have 12 months from taking possession of the new home and having your title registered.
2. Contract to build: You need to apply within 12 months after the new home is finished, which includes getting the final inspection certificate.
3. Owner-builder: You also have 12 months after completing construction and obtaining the final inspection certificate.

What else do you need to know?

The First Home Owner Grant (FHOG) is the largest grant offered to first-time home buyers in Australia. Apart from the FHOG, there are other strategies to save on costs, one of which is avoiding stamp duty. If your first home is valued up to $500,000, you can benefit from a complete exemption from paying stamp duty in Queensland.

Can the FHOG be used for off-the-plan purchases?

Yes, most certainly! This is when the property has not been constructed yet, and you buy from the floorplan. You can purchase your first home off-the-plan to be eligible for the FHOG Queensland application. So, now you access the value in purchasing a new home off-the-plan, plus you receive the FHOG grant! This makes it an ideal option for first home buyers who want to save on costs and have a say in their new home’s design. Moreover, you also have time to save for closing costs while your new residence is being built.

Can the FHOG be used for buying an established home?

This one is a bit more complicated. You can access the FHOG when buying an established home that has undergone significant renovation. This involves removing or replacing most of the building, including altering foundations or floors. Cosmetic work like painting walls or sanding floors doesn’t qualify as a substantial renovation for the FHOG in QLD.

Summary

The Queensland First Home Owner Grant is a significant initiative designed to empower individuals to achieve their dream of homeownership while contributing to the vitality of the Queensland real estate market.

As the deadline for eligibility approaches in June 2025, first home buyers are encouraged to seize this opportunity to embark on their property ownership journey and start building their future wealth.