If you were budgeting on the First Home Owners’ Grant of $20,000 towards the purchase of your brand new home or building, your time is almost up!
As of the 30th June, the $20,000 First Home Owners’ Grant (FHOG) will be reduced to $15,000 to eligible buyers.
What is the FHOG?
The Queensland First Home Owners’ Grant is a state government initiative to help first home owners to get their new first home sooner.
Depending on the date of your contract, you’ll get $15,000 or $20,000 towards buying or building your new house, unit or townhouse. However, the property needs to be valued at less than $750,000. You can buy off the plan or choose to build yourself depending on where and when you buy. This includes brand new homes ready to move into, and also house and land packages.
To be eligible for the grant there are several criteria to be met:
- You must be at least 18 years of age
- You must be an Australian citizen or permanent resident (or applying with someone who is)
- You or your spouse must not have previously owned property in Australia that you lived in
- You must be buying or building a brand new home.
- The value of the home including the land is less than $750,000
- You must move into the new home as your principal place of residence within 1 year of the completed transaction and live there continuously for 6 months
If you are unsure or you need more information you can check out the FHOG website HERE
We have recently sold several blocks at Riverstone Rise as young families, retirees and couples look to move into an established, master planned community by the Boyne River.
There are some terrific savings on offer with blocks reduced by up to $60,000* as part of the BIG MOVE campaign. For a limited time only, this campaign has been extended until September 30. There has never been a better time for first home buyers to get into the market.
Whether you are looking to build your dream home or buy brand new, we can help. Riverstone Rise is conveniently located only 10 minutes to Tannum Beach and 15 minutes to Gladstone. Offering beautiful landscaped parks and recreational areas, it’s not hard to see why people love living within this master planned community.
With the grant reduced by $5,000 come June 30, time is of the essence if you want to maximise the value of the grant available. It is imperative that you speak to your builder and ensure the contract has been signed in time.
We also suggest getting in touch with your local bank or broker to discuss financing options and deposit requirements if applicable. This will help you streamline the build contract process. It will also assist with purchasing a brand new home that meets the FHOG requirements.
If you aren’t sure where to start, or you would like to look at a few options, get in touch with me either by phone. You can find me at the Info Centre, 33 Tulipwood Circuit, Boyne Island. We have packages to suit all styles and budgets.