Queensland State budget gives First Home Buyers a little extra boost
Queensland State budget gives First Home Buyers a little extra boost to help them realise ‘the great Australian dream’ and start them on their way to wealth build for their future.
If you are almost in a position to buy your first home, the recent budget changes have made it a little easier for you financially.
The Great Start Grant which was previously available has been rebranded and is now know as the Queensland First Home Owners Grant and has increased from the $15,000 previously available to eligible applicants to $20,000.
As this new grant will only be available until June 2017 interested buyers need to be quick to avail themselves of the additional $5,000, which will revert back to the previous $15,000 once June 2017 clicks over.
The interested buyers need to fulfil the following criteria (which are the same as the conditions that were applicable under the old Great Start Grant):
• You are at least 18 years of age;
• You are an Australian Citizen or Permanent Resident (or applying with someone that is);
• You or your spouse must not have previously owned a property in Australia; and
• You must be buying or building a brand new home valued under $750,000.00.
A new home is classified as a house, apartment, unit, or townhouse that has not been occupied as a home, has not previously been sold as a home, or is a substantially renovated home.