First Home Owners Grant QLD - EXPLAINED

Let me break down the differences between the four awesome first home owner grants available in Queensland:

1. First Home Loan Deposit Scheme (FHLDS): This scheme helps you secure your dream home by allowing you to purchase it with a smaller deposit, as low as 5% without having to a pay for Lenders Mortgage Insurance (LMI). It's a fantastic opportunity for first-time buyers who may not have a large amount saved up.

2. First Home Super Saver Scheme (FHSSS): With this scheme, you can save money for your first home by making voluntary contributions to your superannuation fund, which can also provide tax benefits. The best part? These contributions are taxed at a lower rate, meaning you can save more towards your dream home. Your contributions can be up to $15,000 per year, with a maximum of $50,000 in total that you can access and be use towards the purchase of your first home.

3. Queensland First Home Owner's Grant: This grant is specifically designed to give a helping hand to first-time buyers in Queensland. It provides $30,000 (up until June 2024) towards the purchase or construction of your brand new first home (the property must have never been lived in to be eligible). It's a fantastic way to kickstart your homeownership journey!

4. Queensland Stamp Duty Concession: Stamp duty can be a hefty expense when buying a property, but with this concession, you can save some serious cash. It offers a reduced rate or in some cases an exemption on stamp duty, making it more affordable for first-time buyers to get into the property market.

An important note, before applying for and of the mentioned grants, you need to check your eligibility.

So, whether you're looking for a smaller deposit, a tax-efficient savings option, a generous grant, or a stamp duty concession, Queensland has got you covered with these four amazing first home owner grants. Happy house hunting!​