Home Buyer Grants and Schemes in Queensland

If you are planning on purchasing property in Queensland, it is important to do your research to see if you qualify for any grants or concessions.

Depending on the type of property and the intended use of the property, will determine which, if any,  concessions or grants you may qualify for.

The Home Buyers Scheme is one such federal initiative. It is offered to eligible home buyers to aid them in purchasing a home sooner. At a state level, the Queensland Revenue Office is responsible for administering this scheme.

Other schemes available for Queensland home buyers include:

• Resilient Homes Fund | Homes and housing | Queensland Government (www.qld.gov.au)This fund provides homeowners in specific local government areas activated for Disaster Recovery Funding Arrangements, financial support to repair, retrofit, raise, or buy-back eligible properties.
• Queensland housing finance loan | Homes and housing | Queensland Government (www.qld.gov.au)This loan is available to Queenslanders who can afford to buy or build a home but cannot get private finance from a bank or building society.
• Mortgage Relief Loan | Homes and housing | Queensland Government (www.qld.gov.au)On a short-term basis, this loan aims to help people who are struggling with their mortgage repayments due to unemployment, accident, illness, or some other unforeseen circumstance.
• National Rental Affordability Scheme | Department of Social Services, Australian Government (dss.gov.au)NRAS endeavours to increase the supply of new and affordable rental dwellings by providing annual financial incentives for up to ten years.
• Queensland First Home Owners’ Grant | Homes and housing | Queensland Government (www.qld.gov.au)A $15,000 grant is offered to eligible first home buyers to assist them in purchasing their home sooner.
• Regional home building boost grant | Homes and housing | Queensland Government (www.qld.gov.au)As part of this grant, $5,000 is provided to help regional Queensland homeowners move into their property sooner.
• First home concession | Homes and housing | Queensland Government (www.qld.gov.au)This concession can be claimed by first home buyers on their stamp duty whereby the property is valued under $550,000.

If you are planning on purchasing property in Queensland, do your research before you sign a contract. More importantly, once you have found a property contact us to review your contract before you sign. We can be contacted on 07 3808 7777 or business@mclaughlinlawyers.com.au.