All Topics / Help Needed! / First Home Owners Grant

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  • Profile photo of BecBec
    Join Date: 2020
    Post Count: 0

    Hey Guys,

    Does anyone have any information on the First Home Owners Grant & the new Builders Grant if I was to buy a new home.

    I currently live in West End does anyone know where I could get land and new home packages for around the $400k range & what deposit I will need?

    I am very keen to get into the property market and wanting to take advantage of the current grants.

    Thanks in advance.



    Profile photo of Richard TaylorRichard Taylor
    Join Date: 2003
    Post Count: 12,024

    Hi Bec

    Assuming you qualify for the Qld Grant you would receive the $15,000 plus a further $25,000 if you buy an off the plan property (Contract dated post 4th June 2020) or buy land and sign a building contract within prior to Dec 31 2020 which comenced within 3 months. If you decide to buy in a qualifying regional area you would qualify for a further $5,000. Both Grants are administered by the Qld Govt.

    At this stage lenders will not accept the Grant as sole deposit so you are going to need either 5% genuine savings as deposit or an alternative method of evidence (rent receipts etc). We are based in Milton and are certainly getting an increase in borrowers wanting to buy their first home.

    As far as properties in the 400K range my son is looking for something similar and he has been looking around the Redbank Plains, Springfield Lakes area.

    Feel free to get in touch if you need any help or assistance.



    Yours in Finance


    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

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