HomeBuilder Grant for QLD Homes

It's never been a better time to build your new dream home with the Government announcing a $25,000 HomeBuilder Grant for new home builds.

To be eligible for QLD’s HomeBuilder Grant owner-occupiers must meet the following eligibility criteria: 

 

  • Be an Australian citizen aged 18 years or older and be an individual, not a company or trust.
     
  • You need to meet one of the following two income caps;
    • $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or 
    • $200,000 per annum for a couple based on both 2018-19 tax returns or later
       
  • Enter into a building contract between 4 June 2020 and 31 December 2020 to either: 
    • Build a new home as a principal place of residence, where the property value does not exceed $750,000;
    • Substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property  does not exceed $1.5 million; 
       
  • Construction must commence within three months of the contract date 
     
  • Be building a new home worth less than $750,000 (this includes land value). 
     
  • Construction must commence within 3 months of the contract date

 

Does it apply to house and Land Packages?

Yes, the HomeBuilder Grant will also apply to Domaine Homes house and land packages that fall within the criteria. 

 

Does it replace other exsisting schemes?

No, the HomeBuilder Grant complements First Home Owner Grant programs, stamp duty concessions and other grant schemes, as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme.

Talk to us today about how to make the most of this once in a lifetime opportunity.

 

Download eligibility checklist



First Home Owners’ Grant for QLD Homes

With access to a $15,000 First Home Owners’ Grant, there’s never been a better time to buy for first time builders.

To be eligible for First Home Owners’ Grant, you must meet the following eligibility criteria: 

 

  • You must be purchasing a new home, whether that’s a new-build property that hasn’t been lived in or building your own property
     
  • Total value of the home and land needs to be less than $750,000
     
  • Be a permanent resident or Australian citizen aged 18 years or older and be an individual, not a company or trust. In some circumstances, New Zealand nationals with a special category visa may be eligible
     
  • You (or your spouse/co-purchaser) must not have received the First Home Owners’ Grant previously
     
  • You (or your spouse/co-purchaser) must not currently own, or have previously owner, property in Australia that you have lived in

 

Am I eligible for the First Home Owners’ Grant if I own an investment property?

Even if you own an investment property, you may still be eligible for the First Home Owners’ Grant on a new home build, so long as you can provide evidence that you have not lived in the property for the entire ownership (including lease agreements, electricity accounts, and tax returns that declare the rental property).

 

Can I use the First Home Owners’ Grant to purchase an investment property?

No – you must occupy the home as your principal place of residence within 12 months of construction or purchase, and occupy the home for a minimum of 12 consecutive months

 

Do I still need to pay stamp duty?

You may be eligible to save on the cost of stamp duty if you meet the below criteria:

  • If you buy vacant land on which to build your first home, and you pay less than $400,000 for the land, you pay zero stamp duty
  • If your first home is valued up to $500,000, you pay zero stamp duty
  • If you pay between $500,000 and $550,000 for your first home, you may still be eligible for some savings on stamp duty

 

Does it replace other existing schemes?

No, the First Home Owners’ Grant complements the HomeBuilder Grant, stamp duty concessions and other grant schemes, as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme.

Talk to us today about how to make the most of this once in a lifetime opportunity.

 

Download eligibility checklist
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