First Home Owner Grants You Can Access Now

Making the decision to buy your first home is always exciting and understanding the grants and concessions available to you is a great first step, with up to $22,175 in incentives on offer, in addition to schemes to help you reduce tax and build your deposit.

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, including Sage at Burpengary.

1. The Queensland First Home Owners’ Grant

The First Home Owners’ Grant provides $15,000 towards buying or building a new home in Queensland. The grant applies to homes valued under $750,000, and 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 Sage 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

2. First home stamp duty concession

First time buyers who are building a home can save up to $7,175 on the stamp duty payable on land valued at up to $400,000.

This is great news for buyers looking to purchase at Sage Burpengary, with a diverse selection of eligible lots now available. Check out up-to-date information on homesites at Sage via Land for Sale.

For more details on the first home concession visit: First home vacant land concession or Transfer Duties Concessions and Exemptions

3. First Home Guarantee

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.

4. First Home Super Saver Scheme

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 Essentials

If you're a first home buyer considering building in our Sage community in Burpengary, find out more about the options available to you by visiting our sales centre. You'll find our team at the Sage Sales Centre at 64 Hunt Road in Burpengary from Saturday to Wednesday, between 11am and 4pm, or by contacting Jo Townsend on 0491 155 408 or sage@cedarwoods.com.au