Are you a first home buyer in Queensland? Purchasing your first home is an exciting milestone, but it’s important to understand the government incentives and concessions available to help make the process more affordable.
In Queensland, first home buyers may be eligible for transfer duty concessions and the First Home Owner Grant (FHOG). While both offer significant savings, they have different eligibility requirements. This guide from NB Property Law will help you understand what’s available and how to qualify.
What is the First Home Owner Grant?
The First Home Owner Grant is a Queensland Government initiative introduced in 2000 to help first-time buyers purchase or build a new home. Under current rules:
- You may be eligible for a $30,000 grant if you sign a contract before 30 June 2025.
- After 30 June 2025, the grant will reduce to $15,000.
- The total value of the home, including land and any variations, must be less than $750,000.
First Home Owner Grant Eligibility Criteria:
To qualify for the First Home Owner Grant, you must:
- Be a natural person (not a company or trust)
- Be at least 18 years old (exceptions may apply)
- Be an Australian citizen or permanent resident (or joint applicant with one)
- Not have previously received a First Home Owner Grant in any state or territory
- Not have previously owned or lived in a residential property in Australia since 1 July 2000
- Move into the home within 12 months and live there continuously for at least 6 months
How to Apply for the Grant
- If you’re using a bank or lender, they can apply on your behalf.
- If applying directly to the Queensland Revenue Office, ensure your application is lodged within:
- 12 months of settlement for new home purchases, or
- 12 months from final inspection for construction builds.
Queensland Transfer Duty Concessions for First Home Buyers
In addition to the FHOG, Queensland first home buyers may be eligible for transfer duty (stamp duty) concessions, which can significantly reduce upfront costs. There are three key concessions available:
- First Home Vacant Land Concession
- Contract must be signed on or after 1 May 2025
- Must be vacant residential land
- No buildings or structures can exist on the land at the time of purchase
- You must build your first home and move in within 2 years
- The concession applies regardless of the market value – you will pay no duty
- First Home Concession
- Applies to established homes
- You must move in within 1 year of settlement
- Property must be valued up to $799,999
- For properties between $700,001 and $799,999, the concession phases out
- Properties over $799,999 are not eligible for the first home concession but may qualify for the standard home concession
- First Home (New Home) Concession
- Contract must be signed on or after 1 May 2025
- Must be for a new home or substantially renovated property
- Must be paying market value
General Eligibility for Transfer Duty Concessions
To be eligible for any of the above concessions, you must:
- Be an individual buyer, not a company or trust
- Be at least 18 years old
- Not have owned residential property anywhere in Australia or overseas
- Not rent out, lease, or sell the property before moving in
- Not have previously claimed a first home vacant land concession
Other First Home Buyer Support Programs
In addition to grants and concessions, both state and federal governments offer low deposit home loan schemes and shared equity initiatives to help first home buyers enter the property market sooner.
Why Choose NB Property Law?
At NB Property Law, we help first-time home buyers navigate the legal complexities of buying property in Queensland. Our experienced team provides:
- Tailored legal advice
- Assistance with government grant applications
- Contract reviews and due diligence
- Property settlement services
Speak to a Queensland Property Lawyer Today
Whether you’re buying a new home, building on vacant land, or just starting your homeownership journey, NB Property Law is here to help. Contact us today for a free initial consultation and make your first property purchase a success.