Purchasing your first home is an exciting milestone, but it can also be financially daunting. Fortunately, the Queensland Government offers a First Homeowners’ Grant (FHOG) to assist first-time buyers in achieving their dream of homeownership. The grant provides a one-time payment to eligible individuals purchasing a new-build property or building their own home. This blog will explore the details of the First Home Buyers Grant in Queensland, including eligibility criteria, the application process, and the housing options at Asset Cabins & Homes for first home buyers.
About The First Homeowners’ Grant
The First Homeowners’ Grant is a government initiative designed to support first-time homebuyers in Queensland. If you are purchasing a new-build property or building your own home, you may be eligible for a one-off grant of $30,000 from the Queensland government. This grant can provide a significant financial boost towards purchasing or constructing your first home.
Who Is Eligible?
To be eligible for the First Homeowners’ Grant in Queensland, you must meet specific criteria. These include:
- Property Type: The property you purchase must be a new-build property, meaning it has not been previously bought or occupied. Additionally, the property can be a unit, duplex, townhouse, or a granny flat built on a relative’s land.
- Property Value: The total value of the home and land must be less than $750,000. However, there are exceptions for existing properties that have undergone extensive renovation, refurbishment, or alterations to provide suitable living space.
- Age and Citizenship: You must be over 18 years old and either an Australian citizen, hold a permanent visa or be part of a joint application with an Australian citizen. In some cases, New Zealand nationals with a particular category visa may also be eligible.
- Previous Homeownership: You (or the other person in a joint application) must not have previously owned a home and should not have received a First Homeowners’ Grant.
It is important to note that the grant is not available to purchase investment properties.
How To Apply for the First Homeowners’ Grant?
Applying for the First Homeowners’ Grant in Queensland is a straightforward process. Here are the steps to follow:
- Complete the Application Form: Fill out the first homeowners’ grant application form, providing all the required information.
- Choose an Approved Agent: You can apply through an approved agent, such as a bank or lending institution, or directly through the Queensland Revenue Office (QRO). Using an authorised agent is usually faster, as QRO payments are made once the home is complete.
- Submit Supporting Documents: Along with the application form, you must submit supporting documents within specific timeframes. If you are buying a home, you must apply within one year of taking possession and registering the title. Use contract-to-build or owner-builder situations within one year of the home’s completion or the final inspection certificate being issued.
Asset Cabins & Homes: Tailored Solutions for First Home Buyers
Asset Cabins & Homes offers a range of housing options catering to first-time buyers. Our residential homes are known for their compact, efficient, and modern designs, making them ideal for smaller lots. These homes strike a perfect balance between practicality and style. Additionally, for buyers with specific needs and preferences, custom-built homes are available, offering tailored solutions to match individual requirements.
In terms of features and benefits tailored explicitly for first-time buyers, Asset Cabins and Homes stand out with their quality designs. Additionally, our competitive costs are carefully structured to fit into the budget constraints of first-time home buyers, making homeownership more attainable. Additionally, our range of residential homes is designed for low maintenance, utilising durable materials and intelligent designs that minimise upkeep and repair expenses, which is particularly advantageous for new homeowners.
Create Your Dream Home with Asset Cabins & Homes
The First Home Buyers Grant in Queensland is a valuable opportunity for those stepping into homeownership. With up to $30,000 available to help you on your journey, it’s an avenue worth exploring for anyone looking to purchase their first home.
For those looking to own a modern, efficient, and stylish modular home or a custom-built property that meets your unique needs, Asset Cabins and Homes is ready to guide you through every step. Our dedicated team is committed to ensuring that your transition into your first home is as smooth and cost-effective as possible.
Reach out to the Asset Cabins and Homes team today, and let us help you unlock the door to your future. Whether you’re looking for more information, need assistance with your grant application, or want to explore our range of first-time buyer-friendly homes, we are here to support you. Contact us now to begin your homeownership journey with confidence and ease.