In July 2000, the Commonwealth Government under an agreement between with the States and Territories introduced a First Home Owner Grant (FHOG) to assist eligible first time home buyers to enter the property market in the way of a one off payment of $7,000 to offset expenses incurred in purchasing a property. This has now been replaced with:
The Great Start Grant which is a Queensland Government initiative to help First Home Owners to get their new first home sooner. You’ll get $15,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000). You can even buy off the plan or choose to build yourself. It’s a great opportunity to buy or build a new home in our great state.
If you are eligible to receive the Great Start Grant, Accomplish Finance specialise in assisting First Home Owners by explaining in plain English the steps to take to achieve moving into your own home. Once you find a builder to build your home or you find a new home that has not been lived in, Accomplish Finance will help you find the right home loan and will assist you to complete all of the necessary paper work to apply for the Great Start Grant… we make it easy.
With the introduction of the Great Start Grant, the eligibility requirements of the previous $7,000.00 first home owner grant have changed. it is only available if:
Quick eligibility check
- You’re at least 18 years of age
- You’re an Australian citizen or permanent resident (or you’re applying with someone who is an Australian citizen or permanent resident )
- You or your spouse has not previously owned a property in Australia
- You’re building or buying a New Home
- The value of the home is under $750,000.00
The grant is tax-free.
In case of joint applicants only one payment of $15,000 will be granted.
The grant is not means tested.
The home must be occupied as principal place of residence within 12 months of completion of construction of the home.
You/your spouse/de facto must not have claimed this grant previously.
Need to know more? Give Accomplish Finance a call, our service is free.