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Monday, 3 December 2012

QLD First Home Owner Construction Grant

Facts About the FHOCG for the State of Queensland in Australia

  • The Newman Government's First Home Owner Construction Grant is worth $15,000.
  • The FHOCG is for first home buyers who are buying a newly constructed or off-the-plan property.
  • The FHOCG replaces the First Home Owner Grant which was $7,000.
  • Those first home buyers who are about to purchase an existing dwelling will have until October 11 to finalise their contract (to be eligible for $7000 grant)

  • First home buyers signing contracts for new properties before September 12 will receive $7000 and those signing on or after September 12 will receive $15,000.

  • The program will be administered within existing arrangements in the Treasury Department.

  • Major banks and financial institutions will continue to advertise the FHOCG in their loan marketing material, reducing the cost for taxpayers.

  • The following eligibility criteria still apply:
  • It must become your principal place of residence within one year of taking ownership.

  • It must be your principle place of residence for at least six months.
  • You must not dispose of all or part of the property within one year after you start to occupy the residence as your home.
  • The property must be bought or built at a value under $750,000.

  • Information is sourced directly from:

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