Changes to First Home Owners Grant in Queensland
🏡 News for First-Time Homebuyers in Queensland 🌟
The Queensland Government has just announced a significant increase in the First Home Owner Grant! This move is intended to address the current cost of living and tightening restrictions, potentially making dreams of homeownership a reality for many aspiring property owners across the state.
📈 Boosting Homeownership Opportunities
Effective for agreements entered from today, 20 November 2023, the Queensland Government has doubled the First Home Owner Grant to $30,000.00, providing a financial boost to those taking their first steps onto the property ladder.
🔍 Understanding the Changes
For a detailed overview of the changes and eligibility criteria, you can refer to the official announcement from the Queensland Government here. It's essential for prospective homebuyers and industry professionals to stay informed about these updates to navigate the real estate landscape effectively.
Some key points to note:
Must be an Australian Citizen or permanent resident, or New Zealand Citizen with special category visa;
Contract price (including land and build) must be under $750,000
Must be over 18 and the first residential property owned in Australia
Home must not have previously been sold or lived in
Could be used for a new home, house and land package, off the plan unit or townhouse or substantial renovation or even a granny flat arrangement built on a relative’s land.
Applications are open from January 2024
🏠 Navigating the Real Estate Landscape
There are numerous eligibility requirements including residency requirements, transaction requirements and certain exemptions for property previously owned. There are also a number of matters that should be considered before rushing to sign up a new contract, including, to name a few:
· Making sure any build contract is fixed price and considering the effect of any variations
· Rising interest rates and the effect that may have on borrowing capacity
· Timeframe for completion
· Increasing land values
At Acquire Legal, we understand the significance of these changes and are ready to assist first-time homebuyers in navigating the legal aspects of property transactions. Whether you're exploring the market, negotiating a deal, or finalising paperwork, our experienced team is here to guide you every step of the way.
🤝 How We Can Help
Legal Guidance: Our team of expert real estate lawyers can provide comprehensive legal guidance, ensuring that your property transaction adheres to all relevant laws and regulations.
Contract Review: We'll meticulously review your contracts, offering peace of mind and clarity as you embark on this exciting journey.
Smooth Settlements: Our goal is to facilitate smooth and efficient property settlements, removing stress and allowing you to focus on the joy of homeownership.
💬 Get in Touch Today
If you have any questions about the recent changes to the First Home Owner Grant or need legal assistance with your property transaction, don't hesitate to reach out to us. Your dream home is closer than you think, and we're here to help you make it a reality!
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