So, you’ve made the decision to build your own home. Congratulations! Like many firsts, building your first home can be both exciting and scary at the same time. For some, this time can be tell-everybody-you-know exciting... but there’s a lot to consider, research and understand before we can mark out the site and break ground.
This guide has been put together to arm you with the right information so you can get into your first home, with the confidence of a seasoned investor.
The most important, first step!
Let’s talk finance
Queensland First Home Owner Grant (FHOG)
Let’s start with the recent boost to the First Home Owner Grant (FHOG) by the Queensland Government – it could be just the opportunity you've been waiting for to turn that dream into reality. This grant offers financial assistance without the need for repayment. Picture this: you can use the $30,000 grant as a cash payment towards your new home valued at less than $750,000. It's a significant boost, no doubt.
This enhanced FHOG will be available until mid-2025, providing substantial support for first-time buyers. Eligibility hinges on personal circumstances and property criteria, so it's wise to check your eligibility. In essence, the FHOG offers a valuable opportunity for those aspiring to homeownership, given a leg-up with government support.
First Home Guarantee Scheme ('LMI Waiver')
The First Home Guarantee is a fantastic initiative by the Australian Government aimed at helping eligible home buyers take the leap into homeownership sooner rather than later. Typically, if you're looking to buy a home with less than a 20 percent deposit, you'd need to also fork out for lenders mortgage insurance. But here's where the First Home Guarantee comes in handy: eligible home buyers can now buy a modest home with just a 5 percent deposit (still subject to lenders' criteria).
How? Well, Housing Australia steps in and guarantees up to 15 percent of the property's value to the participating lender, making it easier for those eligible to secure a home loan. It's a game-changer for anyone looking to make that first step onto the property ladder.
First Home Vacant Land Concession
If you're looking at land valued between $250,000 and $399,999 to build your first home on, you may be eligible for the First Home Vacant Land stamp duty concession. For land valued under $250,000, you can claim a full transfer duty exemption. But, if you're eyeing something over $400,000, unfortunately, the concession is no longer available, and you'll have to pay the full stamp duty amount.
This concession is solely based on the value of the vacant land you're purchasing, not the property you're planning to build. So, if you're a first-time home buyer and you're also planning to build a brand new home, not only do you avoid stamp duty, but you're also eligible for the first home owners grant - saving you thousands!
To build or to buy?
Should I build new or buy existing?
It’s an age-old question and unfortunately there is no straight answer if you’re on the fence about buying an established home or building a brand new one. There’s pros and cons with both and it’s completely up to what feels right for you.
Embarking on the journey of building your own home can feel like diving into the deep end of the pool. It's totally normal to feel a bit overwhelmed by all the decisions and steps involved.
Here at Clarendon Homes, we’re here to help. Our aim is to simplify the process and remove all the guesswork. We're here to guide you through every step of the way, from choosing the perfect design to handing you the keys to your brand-new home.
So, take a deep breath and relax knowing that you've got a knowledgeable and supportive team by your side. Let's make your dream home a reality, together.
Hand-picked for you
Best home designs for first home buyers
Tahoe 170
4
1
2
2
Single storey
•
12.5m+ lot width
The Tahoe 170 is a beautifully affordable home designed with the modern family in mind. Four spacious bedrooms have been incorporated into this space-saving design, ensuring that everyone in the family has their own private space to spread out. The open plan kitchen, meals and family seamlessly connect to the outdoor alfresco and offer plenty of space to entertain in comfort. The Tahoe 170 fits neatly on 12.5m+ lot widths and is complete with a double garage, which allows for additional storage and complete protection of your cars from the weather. Enjoy what the Tahoe 170 has to offer.
Seattle 210
Harmony
4
2
2
2
Single storey
•
12.5m+ lot width
The Seattle 210 is a perfect balance between private pause and family time. This single storey house is an affordable yet good size option for those who need their own space to relax and unwind after a long day. Four large bedrooms and two separate living areas make up the Seattle 210, while the open plan kitchen flows onto the outdoor alfresco and is ideal for those who enjoy entertaining guests. Fitting on lot widths from 12.5m+, the Seattle is a great home design that your family deserves.
Sohar 210
4
2
2
2
Single storey
•
12.5m+ lot width
The Sohar 210 brings you the ultimate single storey home, complete with four spacious bedrooms, two large living areas and a double garage. This family home offers plenty of spaces for your family to come together, or spread out into their own private retreats. The open plan kitchen, living and dining is great for those who love entertaining, while floorplan options such as a walk in pantry and grand alfresco take this home to the next level. Suiting lot widths from 12.5m+, this breezy family home is sure to tick all the boxes.
Find your home
Explore our beautiful range of home designs and floor plans by using the below filters to find the home design that best suits your block of land and your family’s lifestyle.
