First Home Owner Grant (New Homes) scheme
The First Home Owner Grant (New Homes) scheme (the Scheme) was established by the state government to assist eligible first home owners to purchase a new home or build their first home by offering a grant.
The grant amount is determined by the date of the eligible transaction. This is the date of the contract to purchase a new home or contract to build a home. For an owner builder, the eligible date is when the building work commences i.e: laying of the slab.
From 1 July 2017, the First Home Owner Grant Cap for new home purchases is $600,000; for a property where you enter into a contract to build, or are an owner builder the total value cannot exceed $750,000.
For eligible transactions made on or after 1 January 2016, the grant amount is $10,000.
For eligible transactions made between 1 October 2012 and 31 December 2015, the grant amount is $15,000.
For eligible transactions made after 1 July 2016 until 31 July 2017, the grant amount is $20,000.
To find out more you can click on your state government’s website below, or simply contact our office to discuss how the First Home Owners Grant can benefit you. We can help by providing advice on the amount you may be eligible for along with lodging your application directly with the State Revenue Office on your behalf and organising for the payment to be processed.
Buying or selling property on the Gold Coast or Northern NSW? Ensure a smooth process with professional Qld Conveyancing Solicitors, Attwood Marshall.
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Northern NSW & Gold Coast, Queensland