Queensland First Home Owners Grant Changes to $20,000

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

As of 1/7/16 the QLD grant will be $20k, this is for 12mths only. There is nothing additional a customer has to do to get the extra $5k.

From 1 July 2016 the Great Start Grant will be known as the Queensland First Home Owners’ Grant.

The Queensland Government has also announced a one-off, 12-month boost of $5,000 to the grant, which will now be worth $20,000, starting 1 July 2016.

***An applicant is not eligible for the $20,000 grant if a contract replaces another contract that was made before 1 July 2016. An applicant may still be eligible for the $15,000 grant.

For the $20,000 grant, an eligible transaction is one of the following:

-a contract made on or after 1 July 2016 for the purchase of a new home in Queensland (including purchases of substantially renovated and off-the-plan homes)

  • – a comprehensive home building contract made on or after 1 July 2016 by the owner of the land in Queensland or a person who will, on completion of the contract, be the owner of land in
  • Queensland on which the new home will be built
  • – the building of a new home in Queensland by the owner–builder where the foundations are laid on or after 1 July 2016.

For more information head to  https://firsthomeowners.initiatives.qld.gov.au/

Let the team here at Mortgage Advice know if you have any further questions about how to use the grant in conjunction with Lending

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore

Housing affordability

Why choosing where you live will change your financial outcome. I have always said that money vs lifestyle is a decision. To live in Sydney

Budget 2021

Tomorrow Budget 2021 gets announced and it likely to have implications for borrowers of all sorts. This morning I have seen an article announcing an

Get The Right Advice & Cheaper Than The Banks.
Talk to Mortgage Advice