First Home Buyers Grants

The Australian government have extended their home buyers grants. Let us help you secure your dream home.

Find out more before it's to late.

Conveyancing SunShine Coast

We understand that buying your first home can be a daunting process that’s why we at Marland and Riley Pty Ltd have made it easy. We will come along side you and provide the guidance you need to successfully purchase your first new home and show you how to take advantage of the financial assistance provided by the Federal and State governments. We have done the research, allowing you to enjoy the process of building your new first home.

There are 4 different grant/schemes available to the new home buyer at this point but they are for a limited time.

  1. The First Home Loan Deposit Scheme (Federal Gov.)
  2. Queensland First Homeowners’ Grant.
  3. Regional Home Building Boost Grant (Qld Gov.)
  4. Homebuilder Grant (Federal Gov. via Qld Gov.)
  1. The Federal Government has introduced a scheme that is administered by the National Housing Finance and Investment Corporation (NHFIC). Due to the increase in housing prices around the major city and regional centres it has meant that the 20% deposit needed to secure a loan has become much higher for the first home buyer in order to avoid Lenders Mortgage Insurance (LMI) which is paid by the borrower. As a result the Government will guarantee up to 15% of the deposit allowing the borrower to providing only 5% of the deposit remembering that you have to meet the eligibility requirements. We along with our finance specialists will guide you through this somewhat complicated process.

There is a limit of 10,000 loans guaranteed per financial year. Each eligible applicant can use the guarantee in conjunction with other State and territory first homeowner grants. The guarantee is not a cash payment or a deposit for a home loan. 

Those who are eligible are as follows:- 

  • Must be an Australian Citizen 18 years of age and over. Permanent residents are NOT eligible.
  • Single applicants with a taxable income of up to $125,000 per annum for the previous financial year and couples with a taxable income of up to $200,000 per annum for the previous financial year. For all Scheme applications made from 1 July 2020 to the 30 June 2021, the relevant financial year assessed will be 2019-20.
  • Only married or de-facto COUPLES in a relationship with each other are eligible. Other persons buying together, including siblings, parent/child or friends, are not eligible.
  • The Scheme assists single (individual) applicants and couples (together) who have at least 5% of the value of an eligible property saved as a deposit. If 20% or more of the deposit is saved, then the home loan will not be covered by the Scheme.
  • Loans under the Scheme require scheduled repayments of principal and interest of the loan for the full period of the agreement.
  • Only owner-occupiers can apply as investment properties are not supported by the Scheme.
  • Only first home buyers who have not previously owned, or had an interest in (part owner) of a property in Australia, either separately or jointly with someone else (this includes residential strata and company title properties.

The Scheme only allows ‘residential property’ as an eligible property type. 

These are as follows:- 

  • An existing house, townhouse or apartment.
  • A house and land package
  • Land and a separate contract to build a home.
  • An off-the-plan apartment or townhouse.

Specific dates and requirements apply for the different property types.

There are property price thresholds for capital cities, large regional centres and regional areas.

Eligible first home buyers can apply through participating lenders that we have access to. There is no cost or repayments associated with the Scheme. The first home buyers are responsible for all costs and repayments for the home loan associated with the guarantee.

 

 The State governments also provide extra financial assistance through a First Home Owners Grant. Each state has their own individual amount and eligibility requirements but we will only focus on Queensland.

  1. The Queensland First Home Owners’ Grant provides first time home buyers an extra bit of help to get into the market sooner.

If eligible, you’ll get $15,000 towards buying or building your new home. The Queensland grant covers new houses, units, and townhouses – you can even buy off the plan or choose to build yourself.

To be eligible you and any co-applicants must:- 

  • have a signed contract to buy or build your first home before applying unless you are an owner builder.
  • be 18 years or older.
  • be NEW and valued less than $750,000 (including land).
  • be a brand new dwelling (e.g. house, unit, duplex, townhouse, granny flat built on a relative’s land) that has not been previously occupied as a place of residence or sold as a place of residence.
  • be an Australian citizen or permanent resident (or applying with someone who is).
  • not have previously received a first home owner grant in any state or territory of Australia. If you received a grant that you later paid back, together with any penalty, you may be able to reapply for the grant.
  • not currently own property in Australia that you live in
  • not have previously owned property in Australia that you lived in
  • not have owned a home before 1 July 2000, whether you lived in it or not.
  • not buy or build your new home with financial help from a related person (who is not eligible for the grant) who will also stay in the home often, for long periods of time, or for genuine family reasons. (Money borrowed from a bank or lending institution is not considered to be financial help.)

If you have owned an interest in residential property since 1 July 2000 that has been solely used for investment purposes, you may be eligible for the grant on a subsequent property. 

You must move into your brand new home as your principal place of residence within 1 year of the completed transaction, and live there continuously for 6 months.

  1. The regional home building boost grant provides assistance to regional Queensland home owners while helping to stimulate the regional housing sector as the economy recovers from COVID-19.

If eligible, you’ll get $5,000  on the completion of your purchase or the construction of your brand-new house, unit or townhouse valued at less than $750,000. If you are a first time home owner you may also be eligible for the Queensland First Home Owners’ Grant.

               The regional home building boost grant has been extended to 31 March 2021.

To be eligible for the grant:

  • 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 received a previous regional home building boost grant
  • 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
  • the home is being bought or built in a regional Queensland area
  • you have entered into an eligible transaction.

An eligible transaction is:

  • a contract to buy new home, including a substantially renovated home
  • a contract to build a new home
  • the building of a new home by an owner-builder.
  1. HomeBuilder provides individuals and couples with a grant towards building or buying a new home or substantially renovating an existing home that they will own and occupy.

The grant amount is:

  • $25,000 for contracts signed between 4 June and 31 December 2020
  • $15,000 for contracts signed between 1 January and 31 March 2021.

You must apply using the online form by 14 April 2021 and provide all supporting evidence by 30 April 2023.

These criteria apply to all persons, whether applying as an individual or as part of a couple.

  • You must not have previously received a HomeBuilder grant in any state or territory of Australia.
  • You must be at least 18 years of age. (Companies and trusts cannot apply.)
  • You must be an Australian citizen at the time you apply.
  • Your 2018–19 or 2019-20 annual taxable income must be below:
    • $125,000 for an individual
      or
    • $200,000 for a couple.
  • You will be the registered owner on the title.
  • The home will be your principal place of residence after completion or settlement.
  • The contract is signed between 4 June 2020 and 31 March 2021 to:
    • buy an off-the plan or new home valued at $750,000 or less (including GST) and construction had not started before 4 June 2020
      or
    • build a new home where the build amount and the value of the land (including any existing structures) is $750,000 or less (including GST)
      or
    • substantially renovate an existing home, where
      • renovations cost between $150,000 and $750,000 (including GST)
        and
      • value of property (home and land before renovation) is less than $1.5 million.

So, as you can see there is quite a lot to digest and understand when it comes to government assistance for new first home buyers. This reinforces the need for organisations such as Marland and Riley who want to provide the much-needed help and guidance when purchasing your first home.

We understand that buying your first home can be a daunting process that’s why we at Marland and Riley Pty Ltd have made it easy. We will come along side you and provide the guidance you need to successfully purchase your first new home and show you how to take advantage of the financial assistance provided by the Federal and State governments. We have done the research, allowing you to enjoy the process of building your new first home.

There are 4 different grant/schemes available to the new home buyer at this point but they are for a limited time.

  1. The First Home Loan Deposit Scheme (Federal Gov.)
  2. Queensland First Homeowners’ Grant.
  3. Regional Home Building Boost Grant (Qld Gov.)
  4. Homebuilder Grant (Federal Gov. via Qld Gov.)
  1. The Federal Government has introduced a scheme that is administered by the National Housing Finance and Investment Corporation (NHFIC). Due to the increase in housing prices around the major city and regional centres it has meant that the 20% deposit needed to secure a loan has become much higher for the first home buyer in order to avoid Lenders Mortgage Insurance (LMI) which is paid by the borrower. As a result the Government will guarantee up to 15% of the deposit allowing the borrower to providing only 5% of the deposit remembering that you have to meet the eligibility requirements. We along with our finance specialists will guide you through this somewhat complicated process.
Book a Meeting

There is a limit of 10,000 loans guaranteed per financial year. Each eligible applicant can use the guarantee in conjunction with other State and territory first homeowner grants. The guarantee is not a cash payment or a deposit for a home loan. 

Those who are eligible are as follows:- 

  • Must be an Australian Citizen 18 years of age and over. Permanent residents are NOT eligible.
  • Single applicants with a taxable income of up to $125,000 per annum for the previous financial year and couples with a taxable income of up to $200,000 per annum for the previous financial year. For all Scheme applications made from 1 July 2020 to the 30 June 2021, the relevant financial year assessed will be 2019-20.
  • Only married or de-facto COUPLES in a relationship with each other are eligible. Other persons buying together, including siblings, parent/child or friends, are not eligible.
  • The Scheme assists single (individual) applicants and couples (together) who have at least 5% of the value of an eligible property saved as a deposit. If 20% or more of the deposit is saved, then the home loan will not be covered by the Scheme.
  • Loans under the Scheme require scheduled repayments of principal and interest of the loan for the full period of the agreement.
  • Only owner-occupiers can apply as investment properties are not supported by the Scheme.
  • Only first home buyers who have not previously owned, or had an interest in (part owner) of a property in Australia, either separately or jointly with someone else (this includes residential strata and company title properties.

The Scheme only allows ‘residential property’ as an eligible property type. 

These are as follows:- 

  • An existing house, townhouse or apartment.
  • A house and land package
  • Land and a separate contract to build a home.
  • An off-the-plan apartment or townhouse.

Specific dates and requirements apply for the different property types.

There are property price thresholds for capital cities, large regional centres and regional areas.

Eligible first home buyers can apply through participating lenders that we have access to. There is no cost or repayments associated with the Scheme. The first home buyers are responsible for all costs and repayments for the home loan associated with the guarantee.

Book a Meeting

 The State governments also provide extra financial assistance through a First Home Owners Grant. Each state has their own individual amount and eligibility requirements but we will only focus on Queensland.

  1. The Queensland First Home Owners’ Grant provides first time home buyers an extra bit of help to get into the market sooner.

If eligible, you’ll get $15,000 towards buying or building your new home. The Queensland grant covers new houses, units, and townhouses – you can even buy off the plan or choose to build yourself.

To be eligible you and any co-applicants must:- 

  • have a signed contract to buy or build your first home before applying unless you are an owner builder.
  • be 18 years or older.
  • be NEW and valued less than $750,000 (including land).
  • be a brand new dwelling (e.g. house, unit, duplex, townhouse, granny flat built on a relative’s land) that has not been previously occupied as a place of residence or sold as a place of residence.
  • be an Australian citizen or permanent resident (or applying with someone who is).
  • not have previously received a first home owner grant in any state or territory of Australia. If you received a grant that you later paid back, together with any penalty, you may be able to reapply for the grant.
  • not currently own property in Australia that you live in
  • not have previously owned property in Australia that you lived in
  • not have owned a home before 1 July 2000, whether you lived in it or not.
  • not buy or build your new home with financial help from a related person (who is not eligible for the grant) who will also stay in the home often, for long periods of time, or for genuine family reasons. (Money borrowed from a bank or lending institution is not considered to be financial help.)

If you have owned an interest in residential property since 1 July 2000 that has been solely used for investment purposes, you may be eligible for the grant on a subsequent property. 

You must move into your brand new home as your principal place of residence within 1 year of the completed transaction, and live there continuously for 6 months.

  1. The regional home building boost grant provides assistance to regional Queensland home owners while helping to stimulate the regional housing sector as the economy recovers from COVID-19.

If eligible, you’ll get $5,000  on the completion of your purchase or the construction of your brand-new house, unit or townhouse valued at less than $750,000. If you are a first time home owner you may also be eligible for the Queensland First Home Owners’ Grant.

Book a Meeting

The regional home building boost grant has been extended to 31 March 2021.

To be eligible for the grant:

  • 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 received a previous regional home building boost grant
  • 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
  • the home is being bought or built in a regional Queensland area
  • you have entered into an eligible transaction.

An eligible transaction is:

  • a contract to buy new home, including a substantially renovated home
  • a contract to build a new home
  • the building of a new home by an owner-builder.
  1. HomeBuilder provides individuals and couples with a grant towards building or buying a new home or substantially renovating an existing home that they will own and occupy.

The grant amount is:

  • $25,000 for contracts signed between 4 June and 31 December 2020
  • $15,000 for contracts signed between 1 January and 31 March 2021.

You must apply using the online form by 14 April 2021 and provide all supporting evidence by 30 April 2023.

These criteria apply to all persons, whether applying as an individual or as part of a couple.

  • You must not have previously received a HomeBuilder grant in any state or territory of Australia.
  • You must be at least 18 years of age. (Companies and trusts cannot apply.)
  • You must be an Australian citizen at the time you apply.
  • Your 2018–19 or 2019-20 annual taxable income must be below:
    • $125,000 for an individual
      or
    • $200,000 for a couple.
  • You will be the registered owner on the title.
  • The home will be your principal place of residence after completion or settlement.
  • The contract is signed between 4 June 2020 and 31 March 2021 to:
    • buy an off-the plan or new home valued at $750,000 or less (including GST) and construction had not started before 4 June 2020
      or
    • build a new home where the build amount and the value of the land (including any existing structures) is $750,000 or less (including GST)
      or
    • substantially renovate an existing home, where
      • renovations cost between $150,000 and $750,000 (including GST)
        and
      • value of property (home and land before renovation) is less than $1.5 million.

So, as you can see there is quite a lot to digest and understand when it comes to government assistance for new first home buyers. This reinforces the need for organisations such as Marland and Riley who want to provide the much-needed help and guidance when purchasing your first home.

We understand that buying your first home can be a daunting process that’s why we at Marland and Riley Pty Ltd have made it easy. We will come along side you and provide the guidance you need to successfully purchase your first new home and show you how to take advantage of the financial assistance provided by the Federal and State governments. We have done the research, allowing you to enjoy the process of building your new first home.

There are 4 different grant/schemes available to the new home buyer at this point but they are for a limited time.

  1. The First Home Loan Deposit Scheme (Federal Gov.)
  2. Queensland First Homeowners’ Grant.
  3. Regional Home Building Boost Grant (Qld Gov.)
  4. Homebuilder Grant (Federal Gov. via Qld Gov.)
  1. The Federal Government has introduced a scheme that is administered by the National Housing Finance and Investment Corporation (NHFIC). Due to the increase in housing prices around the major city and regional centres it has meant that the 20% deposit needed to secure a loan has become much higher for the first home buyer in order to avoid Lenders Mortgage Insurance (LMI) which is paid by the borrower. As a result the Government will guarantee up to 15% of the deposit allowing the borrower to providing only 5% of the deposit remembering that you have to meet the eligibility requirements. We along with our finance specialists will guide you through this somewhat complicated process.

There is a limit of 10,000 loans guaranteed per financial year. Each eligible applicant can use the guarantee in conjunction with other State and territory first homeowner grants. The guarantee is not a cash payment or a deposit for a home loan. 

Those who are eligible are as follows:- 

  • Must be an Australian Citizen 18 years of age and over. Permanent residents are NOT eligible.
  • Single applicants with a taxable income of up to $125,000 per annum for the previous financial year and couples with a taxable income of up to $200,000 per annum for the previous financial year. For all Scheme applications made from 1 July 2020 to the 30 June 2021, the relevant financial year assessed will be 2019-20.
  • Only married or de-facto COUPLES in a relationship with each other are eligible. Other persons buying together, including siblings, parent/child or friends, are not eligible.
  • The Scheme assists single (individual) applicants and couples (together) who have at least 5% of the value of an eligible property saved as a deposit. If 20% or more of the deposit is saved, then the home loan will not be covered by the Scheme.
  • Loans under the Scheme require scheduled repayments of principal and interest of the loan for the full period of the agreement.
  • Only owner-occupiers can apply as investment properties are not supported by the Scheme.
  • Only first home buyers who have not previously owned, or had an interest in (part owner) of a property in Australia, either separately or jointly with someone else (this includes residential strata and company title properties.

The Scheme only allows ‘residential property’ as an eligible property type. 

These are as follows:- 

  • An existing house, townhouse or apartment.
  • A house and land package
  • Land and a separate contract to build a home.
  • An off-the-plan apartment or townhouse.

Specific dates and requirements apply for the different property types.

There are property price thresholds for capital cities, large regional centres and regional areas.

Eligible first home buyers can apply through participating lenders that we have access to. There is no cost or repayments associated with the Scheme. The first home buyers are responsible for all costs and repayments for the home loan associated with the guarantee.

 

 The State governments also provide extra financial assistance through a First Home Owners Grant. Each state has their own individual amount and eligibility requirements but we will only focus on Queensland.

  1. The Queensland First Home Owners’ Grant provides first time home buyers an extra bit of help to get into the market sooner.

If eligible, you’ll get $15,000 towards buying or building your new home. The Queensland grant covers new houses, units, and townhouses – you can even buy off the plan or choose to build yourself.

To be eligible you and any co-applicants must:- 

  • have a signed contract to buy or build your first home before applying unless you are an owner builder.
  • be 18 years or older.
  • be NEW and valued less than $750,000 (including land).
  • be a brand new dwelling (e.g. house, unit, duplex, townhouse, granny flat built on a relative’s land) that has not been previously occupied as a place of residence or sold as a place of residence.
  • be an Australian citizen or permanent resident (or applying with someone who is).
  • not have previously received a first home owner grant in any state or territory of Australia. If you received a grant that you later paid back, together with any penalty, you may be able to reapply for the grant.
  • not currently own property in Australia that you live in
  • not have previously owned property in Australia that you lived in
  • not have owned a home before 1 July 2000, whether you lived in it or not.
  • not buy or build your new home with financial help from a related person (who is not eligible for the grant) who will also stay in the home often, for long periods of time, or for genuine family reasons. (Money borrowed from a bank or lending institution is not considered to be financial help.)

If you have owned an interest in residential property since 1 July 2000 that has been solely used for investment purposes, you may be eligible for the grant on a subsequent property. 

You must move into your brand new home as your principal place of residence within 1 year of the completed transaction, and live there continuously for 6 months.

  1. The regional home building boost grant provides assistance to regional Queensland home owners while helping to stimulate the regional housing sector as the economy recovers from COVID-19.

If eligible, you’ll get $5,000  on the completion of your purchase or the construction of your brand-new house, unit or townhouse valued at less than $750,000. If you are a first time home owner you may also be eligible for the Queensland First Home Owners’ Grant.

               The regional home building boost grant has been extended to 31 March 2021.

To be eligible for the grant:

  • 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 received a previous regional home building boost grant
  • 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
  • the home is being bought or built in a regional Queensland area
  • you have entered into an eligible transaction.

An eligible transaction is:

  • a contract to buy new home, including a substantially renovated home
  • a contract to build a new home
  • the building of a new home by an owner-builder.
  1. HomeBuilder provides individuals and couples with a grant towards building or buying a new home or substantially renovating an existing home that they will own and occupy.

The grant amount is:

  • $25,000 for contracts signed between 4 June and 31 December 2020
  • $15,000 for contracts signed between 1 January and 31 March 2021.

You must apply using the online form by 14 April 2021 and provide all supporting evidence by 30 April 2023.

These criteria apply to all persons, whether applying as an individual or as part of a couple.

  • You must not have previously received a HomeBuilder grant in any state or territory of Australia.
  • You must be at least 18 years of age. (Companies and trusts cannot apply.)
  • You must be an Australian citizen at the time you apply.
  • Your 2018–19 or 2019-20 annual taxable income must be below:
    • $125,000 for an individual
      or
    • $200,000 for a couple.
  • You will be the registered owner on the title.
  • The home will be your principal place of residence after completion or settlement.
  • The contract is signed between 4 June 2020 and 31 March 2021 to:
    • buy an off-the plan or new home valued at $750,000 or less (including GST) and construction had not started before 4 June 2020
      or
    • build a new home where the build amount and the value of the land (including any existing structures) is $750,000 or less (including GST)
      or
    • substantially renovate an existing home, where
      • renovations cost between $150,000 and $750,000 (including GST)
        and
      • value of property (home and land before renovation) is less than $1.5 million.

So, as you can see there is quite a lot to digest and understand when it comes to government assistance for new first home buyers. This reinforces the need for organisations such as Marland and Riley who want to provide the much-needed help and guidance when purchasing your first home.

Don't leave it too late!

These grants won't be around forever.
Book your meeting and find out how we can help you secure these grants.
Book a Meeting