First Home Owners Grant Is Running Out


The QLD state Government announced an exciting change which will change the lives of many first home buyers.  The existing Great Start Grant has been changed to the First Home Owners Grant (once again!), but that’s not the exciting part.  The best part is that for new building contracts dated after the 1st July 2016 however before the 31st of December 2017, the Grant has been increased to $20,000!  Nope that is not a typo… it really is $20k of free deposit money.  Thank you Government!


The increase of $5,000 is only applicable for the next 3 months, after which time it reverts to the lower amount as it currently stands.  So it’s probably best not to dilly dally on this as you don’t want to miss out.  
The change means that eligible first home buyers purchasing a house and land package under $350,000 may be able to purchase with as little as $11,000 in the bank and repayments of approx. $360.00 per week!  Qualifying criteria applies including but not limited to the following: 
• Clear Credit History
• 12 Months Ongoing Rental History
• Full Time or long term casual employment
For many first home buyers this means their home ownership dreams may be a lot closer than expected.  Give us a call to find out if you may be eligible on 07 3077 7000. 


Nicole Palazzi    
Nicole is passionate in helping people find the right path to their financial goals, she gets much satisfaction from seeing clients achieve their home ownership or investment dreams. Having over 9 years’ experience in home lending, having worked for banks and brokerage firms, has allowed her to understand the ‘ins and outs’ of the Australian home loan landscape. Nicole draws upon this knowledge when consulting with clients through her Franchise at Rams Aspley to ensure they receive the best product for their unique situation.