QLD First Home Buyers Grant Summary

QLD First Home Buyers Grant Summary

Are you confused about what grant(s) you can receive as a first home buyer in Queensland? We have developed a quick summary below. Grants change regularly, so it is always a good idea to review the state governments website to confirm your eligibility or simply contact us.

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Essentially, there are 4 main grants;

QLD First Home Buyers Stamp Duty Discounts 

• If you’re buying vacant land to build your first home, you pay zero stamp duty as long as you pay $350,000 or less for your block. Discounted stamp duty from $350,001 to $500,000
• If your first home is established and valued up to $700,000, you pay zero stamp duty.
• Additional savings on stamp duty (for established properties) may still be available if you pay between $700,001 and $800,000 for your first home.

This has been updated to take into account the June 2024 QLD Stamp Duty Discounts

QLD First Home Owners Grant

• $30,000 grant – (increased from $15,000 recently – see here)
• Newly constructed dwelling with a value less than $750,000
• House and land packages with a value less than $750,000

Australian Government First Home Loan Deposit Scheme

• Allows you to take out a mortgage with just a 2-5% deposit and avoid paying lender’s mortgage insurance (LMI).

Further details here

Australian Government First Home Super Saver Scheme

• Allows you to access up to a total of $50,000 contributions of your voluntary concessional (before-tax) and voluntary non-concessional (after-tax) contributions into your super fund to save for your first home.

Further details here

Still confused? Why not book an appointment with us today to discuss your individual circumstances? What have you go to lose!?