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Making your home more affordable

First Home Buyers in Queensland can take advantage in two ways to help make their new home more affordable: A massive $20,000 grant through the First Home Buyers’ Grant scheme and by generous transfer duty concessions.

First Home Owners’ Grant

Here is a brief summary of the grant and eligibility:

  • The grant amount is $20,000 for contracts signed up to 31 December 2017
  • You must be an Australian citizen or a permanent resident (or applying with someone who is)
  • You or your spouse must not have previously owned property in Australia before 1 July 2000
  • If you have had or still hold an interest in an investment property since 1 July 2000, you may qualify for the grant subject to proving you have never lived in the property
  • You must be at least 18 years of age
  • You must be building a home or buying a new home that has never been lived in
  • The contract value must be under $750,000
  • You must move into the home within 12 months of settlement or handover of the home
  • You must then live there for six months continuously to keep the grant

Find out all the details and check your eligibility here.

Transfer Duty Concessions For First Home Buyers

There are two options for saving the cost of transfer duty; the first for new homes that are completed or under-construction and for vacant land. There is no transfer duty on building contracts.

The following is a summary of the concessions and some of the provisions:

New or established homes, apartments or townhouses

  • For homes with a contract value to $500,000, no transfer duty is payable
  • For homes with a contract value to under $550,000, reduced transfer duty on a sliding scale
  • You must not have previously held an interest in a residential property anywhere in the world
  • You must be at least 18 years of age
  • You must live in the property as your principal place of residence within one year of the transfer date
  • You cannot rent out the property before moving in (although a Seller’s existing tenant may remain in possession for up to six months from the transfer date)

Vacant land concession

  • For vacant land with a contract value up to $250,000, no transfer duty is payable
  • For vacant land with a contract value to under $400,000, reduced transfer duty on a sliding scale
  • You must not have previously held an interest in residential land anywhere in the world
  • You must be at least 18 years of age
  • You must build your first home on the vacant land
  • You can only build one home on the vacant land
  • There must be no building or part of a building on the land when you buy it
  • You must occupy the property as your principal place of residence within two years of the transfer date
  • You cannot rent out the property before moving in

All the details and transfer duty calculators can be found here.