In 2016, the Queensland Government increased its grant for first home owners who are buying or building a new home. Previously known as the Great Start Grant, those eligible will receive a one-off payment of $20,000.
It is available for eligible transactions dated on or after 1 July 2016.
To be eligible for the grant:
- 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.
- You must be at least 18 years of age.
- You must be buying or building a brand new home, valued under $750,000.
What is a new home?
A new home is a brand new dwelling that has not been previously occupied as a place of residence or sold as a place of residence. This may include a:
- home that is a substantially renovated home (in certain limited circumstances).
- house that has been moved from one site, and fixed as a home to a different site, so long as it has not been occupied or sold as a place of residence since being fixed to the new site.
Types of dwellings include houses, units, duplexes, townhouses and granny flats built on a relative’s land.
What is a substantially renovated home?
A substantial renovation is a renovation in which all, or most, of the structural and/or non-structural components of a building are removed or replaced. Most of the rooms in the previous building must have been affected, and the renovations must have affected the building as a whole for it to be considered a substantial renovation. See the definition of substantially renovated homes for information.
The closing date for the $20,000 Queensland First Home Owners’ Grant has been extended to 30 June 2018. If your contract to purchase or build is signed between 1 July 2016 and 30 June 2018, you may be eligible to apply for the $20,000 grant.