02 Feb First home buyers in the box seat for 2024
New year, new home! First home buyers have an incredible opportunity in 2024 to make the move to property ownership.
It will be high times for first home buyers in 2024 with a wide range of government incentives on offer, which makes now the perfect time to plan for your future home in Lilywood Landings.
Securing that dream home is now easier than ever before with the grant offering financial relief for many looking to get their foot on the property ladder.
Relief for first home buyers in Queensland
Recently, the Queensland first home owner grant doubled from $15,000 to $30,000 for new home builds from now until 30 June 2025. The grant applies to eligible new home builds under $750,000, including contracts signed between now and 30 June 2025. To be eligible for the grant, individuals need to be 18 years or older, an Australian citizen, or permanent resident, or apply with someone who is an Australian citizen under a joint applicant. Applicants must not have previously owned a residential property or investment property in Australia before and must move into their new home within 1 year of the completed transaction and live there for a minimum of 6 months, further exclusions also apply. The home must be a new build such as a new home, unit, townhouse or granny flat and can also include off-the-plan home purchases.
Securing your spot with 5% deposit
This grant along with the First Home Guarantee Scheme, a Federal Government incentive means homeowners can purchase a home for a deposit as little as 5% and avoid Lender’s Mortgage Insurance (LMI).
Buying with friends or family
For more options or flexibility, there is also The First Home Guarantee Scheme. This grant means you can buy a home along with friends, siblings or other family members. As this is a separate grant offered by the Federal Government, only 35,000 places are available this year and you can still secure a home with a small deposit. For more on eligibility requirements, read more here.
Now is the perfect time to get your finances in order and start planning to build your dream home at Lilywood Landings!
With construction of the first blocks now commenced, this brand new connected community sits at the gateway to the new City of Waraba, which gives early buyers the chance to get a jump on the crowd. For more information on our plans for Lilywood Landings, check out the vision here and register your interest today.