The Governments First Home Owner Grant boost is now open for applications!
A welcome relief to prospective first home buyers, the Government has announced a boost to their First Home Owner Grant doubling the previous grant amount to $30,000. The FHOG is available to eligible applicants building or buying a new home or those looking to purchase a home that has had extensive renovations completed.
What residences are included in the FHOG eligibility?
Applicants must purchase a home with a value not exceeding $750,000. This include both land and home (and any variations included in these contracts). The home must not have been lived in or sold as a place of residence at time of purchase.
This could be:
house, unit, duplex or townhouse; or a detached dwelling built on a relative’s land (e.g. granny flat, tiny home)
home that has been moved from one site to another (including kit homes or modular homes)
home in a manufactured home park
substantially renovated home
Are you eligible?
To be eligible for the grant applicants must
Be an Australian citizen or permanent resident (or applying with someone who is) 18 years or older
Not have previously received the FHOG in Australia (this includes spouses)
Not have previously owned a home in Australia that they lived in (applicants who have owned a home as an investment property may still be eligible for the grant)
Live in the residence for at least six months in the first year of owning the home
Applicants will have access to the grant boost until the 30th of June in 2025. The QLD Governments website has an eligibility tester for the FHOG if applicants are unsure on whether they meet the criteria.
Applicants have twelve months to apply for the grant after taking possession of the new home or reaching build completion. It’s important to note that the government advises not to account for FHOG as part of the home deposit as the payments for the grant are received in varying stages.
Check out the QLD Government’s website for information on applying for the grant if you fit the eligibility criteria
https://qro.qld.gov.au/property-concessions-grants/first-home-grant/
