The Queensland government has announced that it will double the First Home Buyers Grant from $15,000 to $30,000. This grant is available to eligible first-time home buyers who are looking to buy or build a new home in Queensland. The grant is aimed at helping first-time home buyers get into the property market and is expected to boost the construction industry in the Ipswich region.

Whiterock has a selection of grant-ready house and land packages for first home buyers. These packages are designed to help you get into the property market and take advantage of the grant. The packages include a range of different house designs and land sizes to suit different budgets and lifestyles.

You do of course need meet some eligibility requirements.

• The total value of the property must not exceed $750,000.
• You and your partner must not have previously purchased a home in Australia.
• One of the applicants must be a permanent Australian resident.
• You must move into the home after one year (from land title) and live in the home for a period of 6months.
• You are 18 or over.
• Each applicant has entered a contract for the purchase of a new home or signed a contract to build a home between 20^th November 2023 and 30^th June 2025.

For more information on the QLD First Home Owners Grant visit the Queensland Revenue Office

Other First Home Buyer Government Incentives

In addition to the First Home Buyers Grant, there are several other government incentives available for first home buyers at Whiterock. These include:

• First Home Loan Deposit Scheme: This scheme allows eligible first home buyers to purchase a home with a deposit as low as 5% without having to pay for Lenders Mortgage Insurance (LMI). The government guarantees the remaining 15% of the deposit.
• First Home Super Saver Scheme: This scheme allows eligible first home buyers to save for a deposit inside their superannuation account. The scheme allows first home buyers to save up to $50,000 in their super account and withdraw it to purchase their first home.
• Transfer Duty Concessions: First home buyers may be eligible for Transfer duty concessions when purchasing their first home. The amount of the concession varies depending on the value of the property. For more information on concessions available visit the Queensland Revenue Office

All effort has been made to provide accurate information; however, readers are encouraged to make their own enquiries and conduct their own research in relation to the grants and schemes featured above to determine their eligibility. For more information on the First Home Buyer Grant and Transfer Duty exceptions visit the Queensland Revenue Office For the First Home Buyer Low Deposit Scheme visit Housing Australia  or your chosen lender. For more information on the First Home Buyer Super Saver Scheme visit the ATO website.