Buying your first home is an exciting and daunting experience. It can be difficult to know where to start and what grants are available for first home buyers in QLD. The good news is that there are a number of grants and concessions available to help first home buyers in Queensland.
The Queensland Government offers a range of grants and concessions to help first home buyers purchase their first home. These include the First Home Owners’ Grant, the First Home Loan Deposit Scheme, the First Home Vacant Land Stamp Duty Concession and the First Home Vacant Land Transfer Duty Concession.
The First Home Owners’ Grant (FHOG) is a one-off payment of $15,000 to eligible first home buyers. To be eligible, you must be an Australian citizen or permanent resident, over 18 years of age, and purchasing or building a new home valued at less than $750,000. You must also be an owner-occupier, and not an investor.
The First Home Loan Deposit Scheme (FHLDS) is a government initiative that helps eligible first home buyers purchase a home with a deposit of as little as 5%. The scheme is available to single applicants with an income of up to $125,000 per year, or couples with a combined income of up to $200,000 per year.
The First Home Vacant Land Stamp Duty Concession is available to eligible first home buyers who purchase vacant land valued at less than $400,000. The concession is available for land purchased in Queensland, and can be used to reduce the amount of stamp duty payable on the purchase.
The First Home Vacant Land Transfer Duty Concession is available to eligible first home buyers who purchase vacant land valued at less than $500,000. The concession is available for land purchased in Queensland, and can be used to reduce the amount of transfer duty payable on the purchase.
These grants and concessions can help first home buyers in Queensland get a foot in the door of the property market. However, it is important to remember that these grants and concessions are only available to eligible first home buyers. It is important to check your eligibility before applying for any of these grants or concessions.
At The Home Loan Partners, we understand that buying your first home can be a daunting experience. That’s why we are here to help. Our team of experienced mortgage brokers are here to answer any questions you have and help you to get a home loan. We can help you to find the right loan for your needs and guide you through the entire process.
So if you’re looking for help with your home loan, get in touch with The Home Loan Partners today. We’d love to help you get into your first home.