If you are looking to buy your first home in Queensland, the First Home Owner Grant (FHOG) is a key financial incentive that could help make your dream a reality. The FHOG is a one-time government grant provided to first-time homebuyers, offering significant financial assistance to ease the burden of purchasing a property.
What is the First Home Owner Grant?
The First Home Owner Grant (FHOG) is a government initiative designed to help first-time buyers get into the property market by offering a lump sum payment. The grant is provided by the Queensland Government, with the funds needing to be applied to purchase or build a new home, although certain conditions may apply depending on where you live.
In 2025, the FHOG will continue to support buyers, particularly with the growing cost of housing. The Queensland Government is offering up to $30,000.00 for contracts which are signed between 20 November 2023 and 30 June 2025. The grant can also be used in lockstep with the first home owner occupier concession for transfer duty (stamp duty). This concession either partly reduces the amount of stamp duty that a first home buyer pays, or completely avoids payment of any stamp duty in its entirety. The value of the home needs to be less than $800,000.00 for the concession to apply.
Eligibility Criteria
Applicants must typically meet the following in order to qualify for the FHOG:
- First-time Buyer: Applicants must be purchasing their first home as an individual or couple. This means neither the applicant nor their spouse/partner should have previously owned property in Australia.
- Australian Citizenship or Permanent Resident Age 18+: Applicants must be at least 18 years old and an Australian citizen or permanent resident.
- Property Type: The property must be a new build or a substantially renovated home. The home also has to be used as your primary residence, usually for a continuous period of at least six months within the first 12 months. You can buy vacant land upon which your first home is built, however there are separate requirements for obtaining the FHOG when buying vacant land.
- Purchase Price Caps: The purchase price of the property must be no greater than $750,000.00 in order for the FHOG to apply.
How to Apply for the First Home Owner Grant
Applying for the FHOG typically involves several steps:
- Check Eligibility: Review the specific eligibility criteria and property value limits set by the Queensland Government.
- Prepare Documentation: Gather necessary documents such as proof of identity, proof of income, contract of sale for the property, and evidence of meeting residency requirements.
- Submit Application: Complete the FHOG application form on the Queensland Government’s website. Ensure all required documents are attached and submit the application by the specified deadline.
- Receive Approval: Once your application is processed and approved, the FHOG payment will be made directly to you or your nominated financial institution.
- Settlement: Coordinate with your conveyancer or legal representative to ensure the FHOG is deducted from your settlement costs.
Navigating the process of applying for the FHOG in 2025 requires attention to detail and adherence to specific guidelines outlined by the Queensland Government. Having a lawyer to help you navigate this process can be invaluable in ensuring that you are able to leverage this financial assistance and achieve homeownership.
