The First Home Owner Grant is a one-off grant payable to first-time buyers who are either purchasing an existing home that has never been lived in or constructing an entirely new house.

This is a great help for those looking to buy their first home as it can help provide a monetary boost you may not have anticipated, this could allow you to: upgrade your home, save for your mortgage, plus lots more. For our advice on what to spend your grants on please click here.

The grant amount and eligibility can differ between states, below we share how our customers in NSW & QLD can access the grants:

Across NSW & QLD you must meet this criteria to be eligible:

• Must be a first home buyer as a person, not as a company or trust
• Must be at least 18 years old
• Must be a permanent resident or Australian citizen, or applying with someone who is
• Applicant or applicant’s spouse, partner, or co-purchaser must not have previously owned an interest in land in Australia, which had a residence on it before 1 July 2000
• Applicant or applicant’s spouse, or partner cannot have lived in a residential property, which they owned from 1 July 2000
• Must not have claimed the grant previously or applying with someone who has
• Must occupy the home as principal place of residence (PPOR) within 12 months of the construction or purchase and the minimum occupancy period is 12 continuous months

Additionally to these requirements NSW & QLD also have some of their own requirements, such as:

NSW:

• Grant amount: $10k for a home up to $600k
• The land and home value must not exceed $750k
• Eligible for an exemption from transfer duty for new homes up to $800k
• Eligible for transfer duty concessions for new homes worth between $800,000 and $1m
• No transfer duty applies for land worth less than $400k
• Concession rates only apply for land between $400-$500k

For more information please click here

QLD:

• Grant amount: $15k grant for properties up to $750k
• $5k bonus grant for those building a new home up to $750k in regional QLD
• Eligible for stamp duty concessions for properties up to $550k or land up to $400k

For more information please click here

How do I apply for the grant?

You must submit an application to your relevant State or Territory revenue office or equivalent authority. Alternatively,  your financial institution or bank can also apply on your behalf.

Contact us today, to start your home building journey today!