First home buyer grants and incentives are offered by both the Federal and State Governments and can assist buyers to step into their new home sooner.
We’ve compiled a list of the grants available now for Queensland first home buyers to help you achieve your first step on the property ladder.
The First Home Owners’ Grant has been doubled as of November 20, 2023, until June 30, 2025, to $30,000 for people buying or building their first home in Queensland.
The grant applies to new homes or new home-builds valued under $750,000 for both the house and land. The home will need to be your primary residence.
The grant can be used as part of your deposit, potentially helping to fast-track your purchasing plans, depending on when you apply and are approved.
A range of house and land packages, with Queensland’s leading builders, under this threshold are available at Flourish and can be viewed via our home and land package page here.
For more information on the Queensland First Home Owners’ Grant visit: Queensland First Home Owners' Grant
First time buyers who are buying vacant land and building a home can pay zero stamp duty, as long as you pay $250,000 or less for your block.
Concessions are also available for vacant land above $250,000, where first home buyers can save up to $7,175 on the stamp duty payable on land valued at up to $400,000.
For people whose first home and land combined is valued up to $500,000, you pay zero stamp duty – a saving of $15,925 – the maximum stamp duty rebate available to first home buyers in Queensland; and stamp duty savings may still be available for new house and land between $500,000 and $550,000.
This is great news for buyers looking to purchase at Flourish in South Maclean, with a diverse selection of eligible lots. Check out up-to-date information on homesites at Flourish here.
For more details on the first home concession visit: First home vacant land concession or Transfer Duties Concessions and Exemptions
The First Home Guarantee (FHBG) enables an eligible home buyer to purchase a home with as little as five per cent deposit without paying Lenders Mortgage Insurance.
Instead, part of your home loan with a participating lender is guaranteed by the National Housing Finance and Investment Corporation (NHFIC), on behalf of the Federal Government.
This is great news for those with a deposit between five per cent and 20 per cent as it means you can buy your home sooner, without having to pay what can be costly Lenders Mortgage Insurance.
For more details on your eligibility for this incentive, visit First Home Guarantee.
The Federal Government’s First Home Super Saver Scheme allows first home buyers to make voluntary additional payments of up to $15,000 a year, or $50,000 in total, into their superannuation to build their home deposit.
With the tax rate of the first $25,000 put into a superannuation account each year just 15 per cent, significantly lower than most income tax thresholds, this provides the potential to grow your deposit faster, compared to a savings account. It is important to understand your risk profile when assessing if this option is suitable for you.
For more information visit: First Home Super Saver Scheme.
If you're a first home buyer considering building in our Flourish community in South Maclean, find out more about the options available to you by visiting our sales centre off Pebble Creek Way, South Maclean from 10am to 4pm, Saturday to Wednesday. You can also contact our sales team on 0482 163 870 or via flourish@cedarwoods.com.au.