First Home Buyers Gold Coast

First Home Guarantee (FHBG)

For those first home buyers on the Gold Coast in the coming months and years, the First Home Guarantee (FHBG) is worth looking into. Part of the Home Guarantee Scheme (HGS), it’s all about helping you get your dream home sooner. With just a 5% deposit, you’re on your way. And for FY2023-24, there are 35,000 spots up for grabs. Whether you’re buying solo or with someone, anywhere in Australia, this is for you. Just make sure you haven’t owned a property in the past decade.

Regional First Home Buyer Guarantee (RFHBG)

The RFHBG is tailor-made for first home buyers in Australia’s regional areas, which includes the Gold Coast. Part of the Home Guarantee Scheme (HGS), it lets you dive into homeownership with just a 5% deposit. For FY2023-24, 10,000 opportunities await. Just ensure you’ve lived in or near the region you’re buying in for the past year, and just like the FHBG, make sure you haven’t owned a property anywhere in Australia for the past 10 years.

Family Home Guarantee (FHG)

First Home Owners’ Grant (FHOG)

The FHOG initially offered $15,000 to help first home owners like you to buy or build your new place. Recently, however, the FHOG amount was doubled to $30,000, which was announced recently. This doubling of the grant amount is slated to run until 30 June 2025. Just ensure your dream home is valued under $750,000. With this grant, you’ve got a year from when you get the keys or when your home’s ready to apply. Note that all of the new home’s owners have to be included when applying for this grant. Also, remember that payment for this will be disbursed per new home and not per applicant.

First Home Concession

First time homeowners in Queensland get a break on transfer duty with the First Home Concession. To qualify, home buyers should be buying their first home and are at least 18 years old upon application. They must also move into the home within a year from purchase settlement. This applies to new homes valued at $500,000 or less. For homes between $500,001 and $534,999.99, there’s a special rate. To find this out, use the Queensland Government’s handy tools to see what you might owe. There is the transfer duty estimator or rates for home concessions to calculate how much duty would be payable as a first home buyer.

First Home Owner Super Saver

The First Home Owner Super Saver scheme is formulated to help first home buyers boost their savings via eligible voluntary super contributions. Contribute to your super and use it towards your home. In a year, you can tap into up to $15,000 of your contributions. This can be used for a brand-new place or an existing home.