Some first-time home owners in Queensland have the benefit of accessing the Queensland First Home Owners Grant (FHOG). If you’re dreaming of owning your first home, you may be wondering if you’re eligible for the grant, how much it is, and what you can actually use it for. We’ve compiled a guide to explain what the grant includes in 2024 and whether you will be able to access it for your first home.
What is the First Home Owners Grant (FHOG)?
In an effort to stimulate the property market, the Queensland government introduced the First Home Owners Grant to help eligible first-time homebuyers to take a step closer to their real estate goals. This grant is a single lump-sum payment to offset the costs of building or buying a new property.
Am I eligible for Queensland’s First Home Owners Grant?
Although the FHOG is a great initiative, not everyone will be eligible for the grant. You may be eligible if you:
- Are purchasing as an individual (not a trust or company)
- Are over the age of 18 and an Australian citizen or permanent resident
- Earn below $125,000 per annum
We recommend checking with the QFHOG team directly to find out if you are eligible.
How much is the First Home Owners Grant?
The Queensland First Home Owners grant is traditionally $15,000, but in November 2023 this amount was increased to $30,000, until June 2025.
How do I apply for the First Home Owners Grant?
To apply for the FHOG you will need to submit a range of documentation to the relevant government sector. It is best to be well prepared for this process, and getting professional advice from an industry expert will help to ensure that you are organised and the application goes smoothly.
What sort of property can I use the FHOG for?
The FHOG was introduced to encourage first homebuyers to opt for building new homes, or purchasing newly finished homes. Therefore, FHOG recipients must put the grant cash towards newly built dwellings. Houses that have been extensively renovated may be eligible, but the work to the property must be significant and it must not have been previously occupied – these conditions are rarely met for existing houses.
What are the benefits of Queensland’s FHOG?
If you’re eligible for the FHOG, there are some obvious benefits for accessing the grant. These include:
- Financial assistance towards purchasing your first home
- Boosting the property market and related industries
- Increasing homeownership rates in Queensland
If you’re interested in the Queensland’s First Home Owners Grant but unsure how to pursue it, our team of expert mortgage brokers can help you. Book an appointment with one of our Borro brokers today or call the team on 1300 1BORRO.
