Queensland First Home Owner Construction Grant: qualify and you can save $15,000 on your new home

Buying your very first home is an exciting event and one worthy of celebration. There's nothing quite like owning your home to add to your peace of mind. What's more, as a wealth creation strategy you're making a smart move because 'bricks and mortar' is one of the best performing assets over the long term.

Better still, as a first time buyer of property, you may qualify for the Queensland First Home Owner Construction Grant (FHOCG).
This grant is worth $15,000, but by using it to reduce your mortgage it can be worth a whole lot more in reduced interest payments.

Buy specially discounted properties in innercity Brisbane

To save you more and allow you to maximise the benefit of this grant, Grow Consulting have partnered with leading property developers to offer specially discounted new apartments in prime innercity locations.

These deals are unlikely to be repeated so have a look at the available properties and note the stamp signifying this special offer.

The following information will provide some details on the FHOCG, and if you want to know more, book into our next free information-packed seminar.

Who is eligible for the Queensland First Home Owner Construction Grant?

You are eligible for the Queensland First Home Owner Construction Grant if you:

• are a first home owner(s) who will be buying or building a new home in Queensland
• contracts to buy a new home (including off the plan) dated on or after 12 September 2012
• contracts to build a new home dated on or after 12 September 2012
• new homes being built by an owner–builder where the date the foundations start to be laid is on or after 12 September 2012.

A new home is a home that:

• has not been previously occupied as a place of residence
• has not been previously sold as a place of residence or
• is a substantially renovated home (in certain circumstances).

Other conditions to note:

• grant applies to properties worth less than $750,000
• Make the property the principal place of residence within one year of taking ownership and live there for at least six months
• Not sell the property within a year of moving in

The FHOCG is only available if you own property for the first time, although you may still qualify if you bought a property before July 1990 and which you then used solely for investment purposes (that is, you rented it out and never lived in it).

Different rules depending on the state you live in

Each state in Australia have their own set of rules applying to their First Home Owner Grant or equivalent.  The First Home Owner Construction grant is only available for newly constructed properties in Queensland. 

No stamp duty for first home buyers

As a first home buyer, you will also benefit from zero transfer (stamp) duty on purchase amounts up to $550,000.

If you buy land to build on, there is no duty on a residential block valued up to $400,000.

Buy top class apartments in prime innercity locations - look for the stamp

To help you get the most out of the First Home Owner Grant and the Qld Building Boost Grant, we are offering specially discounted pre-approved apartments positioned in prime innercity suburbs, where you can save up to an additional $10,000 on top of the Queensland First Home Owner Construction Grant.

Check out the available properties and look for the stamp denoting this special offer.

Contact us to find out more about the government grants or book into our next workshop where we'll give you all the information you need.