Like any other dream, buying a new home is also one of them for anyone. And as Queensland is a huge state it consists of so many choices for property. The property market of Queensland is at a peak level where most of the buyers, investors and sellers are active. But not every one of them can enter into the market or settle on their own. For that reason, the Queensland Government is committed to supporting the Queenslanders. These financial grants aim to help people accomplish their homeownership dreams. So, now let’s talk about Queensland’s first home buyer grants and schemes briefly:
Queensland First Home Owner’s Grant
The first homeowner’s grant is financial aid given by the government to the first home buyers. The buyers get a lumpsum amount of $15,000 for the house categories including townhouses, units, and new houses. With this grant, you can either decide to buy a new house or even build one by yourself.
Eligibility criteria for this grant:
-An Australian citizen or a permanent resident.
-Never owned a home in Australia before.
-Buy or build a home valued under $7,50,000.
Regional Home Building Boost Grant
The main focus of this grant is to boost the regional economy and housing. This grant is a one-off payment of $5000 that is given to the first home buyers who want to build a home in regional Queensland. Construction must start right after signing the contract within six months.
Home Builder Grant
Not only the first home buyers but the existing homeowners can also receive grants. With the help of this grant, the homeowners can renovate their houses. Depending on the valuation of your property, the grant is worth up to $25,000.
And to qualify for this grant one must be a permanent resident and in the case of a couple, household income shouldn’t exceed $200,000.
So, to apply for these grants you first need to check your eligibility.
Also one must confirm their identity by fulfilling all the necessary documents. But as per the requirements and own needs grants must be chosen.
The final step after receiving the home buyer grants is that you can now buy/build your dream house. And to choose the right property for yourself consult with our team and start your home ownership journey!
