Buying your first home is exciting and overwhelming in equal measure. There's a lot of information out there, a lot of opinions, and a lot of decisions to make before you even find a property you love.
The good news is you don't have to figure it out on your own. My job is to take the complexity out of it, explain your options in plain language, and make sure you're set up properly from the start, not just approved and left to work it out.
I've helped plenty of first home buyers across Bribie Island and Moreton Bay get into their first home, and I know how to make the process feel manageable even when it seems anything but.
There are several government initiatives available to first home buyers in Queensland that can make a real difference to how soon you can buy and how much you need to save. Here's a plain-language summary of the main ones.
If you're buying or building a new home in Queensland, you may be eligible for the Queensland First Home Owners Grant. This is a one-off payment that can go towards your deposit or purchase costs. Eligibility conditions apply, including price caps and residency requirements. I'll check whether you qualify as part of our first conversation.
The federal government's First Home Guarantee allows eligible first home buyers to purchase a home with as little as a 5% deposit without paying lenders mortgage insurance. Places are limited each financial year and there are income and property price caps. I'll let you know whether this is available to you and how to apply through an approved lender.
If you've been making voluntary contributions to your superannuation, the First Home Super Saver Scheme may allow you to withdraw some of those funds to use towards your deposit. There are limits on how much you can access and the application goes through the ATO. Worth knowing about if you've been salary sacrificing.
In Queensland, first home buyers may be eligible for a concession or exemption on transfer duty, which is what Queensland calls stamp duty. The amount you save depends on the purchase price and whether the property is new or established. I'll make sure you know what applies to your situation before you buy.
