For aspiring homeowners in Queensland, the First Home Owners Grant is one of the most important financial aids available, making homeownership more attainable. With the Queensland Government offering a generous $30,000 grant to eligible first-time buyers, this incentive has become a game-changer for those looking to break into the property market. However, it's crucial to note that the $30,000 grant is currently only available for contracts signed before July 2025. In this guide, we’ll cover everything you need to know about the grant, eligibility criteria, and how you can apply before it expires.
What is Queensland's First Home Owners Grant?
The First Home Owners Grant is a financial incentive provided by the Queensland Government to help first-time buyers purchase a new home, making the dream of homeownership much more accessible, particularly in a competitive property market.
Eligibility Criteria for the $30,000 Grant
- To qualify for Queensland’s $30,000 First Home Owners Grant, buyers must meet certain eligibility criteria. The primary requirements include:
- New Home Purchase: The grant is available only for new homes, meaning homes that have not previously been lived in or sold. This can be a house, apartment, or townhouse.
- Property Value: The new home must be valued at less than a specified threshold, typically under $750,000 (although this figure may change, so always check current thresholds).
- Age and Residency: Applicants must be over the age of 18 and either an Australian citizen or a permanent resident.
- First-Time Homebuyer: Applicants must not have received any first home owner grant, either in Queensland or elsewhere in the previous years. This is a crucial condition for eligibility.
- You must move into your new home within 1 year and live there for at least 6 months, though the Commissioner may exercise discretion in exceptional cases if these conditions are not met.
How to Apply for the $30,000 Grant Before June 2025
Applying for the First Home Owner Grant is a straightforward process. Here’s how you can apply before the June 2025 deadline:
- Submit an Application: Applications for the grant are submitted to the Queensland Revenue Office. You can submit your application online through the QRO portal or via a registered agent like your bank.
- Provide Documentation: To complete your application, you will need to provide proof of identity, residency, and other relevant documents such as details of the home you are purchasing.
- Receive the Grant: If your application is successful, the $30,000 grant will typically be paid at settlement – you can use the funds to pay the seller at settlement.
The $30,000 Grant Ends June 2025
If you’re planning to purchase your first home and want to take advantage of the full $30,000 grant, you must sign the contract before the end of June 2025. Contact NB Property Law Office today to make sure you’re on the right track in getting your first home.