First Home Owners Grant Queensland QLD
Like all states, QLD property markets suffered towards the end of 2008. But early in 2009 there are some very positive signs of improvements, and as a first home buyer, now is the time to be looking. 
First home buyers who meet the eligibility criteria in Queensland are entitled to the First Home Buyers Grant of $7,000 for an established property or for vacant land on which to build or a newly constructed property.
Queensland first home buyers are also exempt from stamp duty on all properties up to the value of $504,999. For property valued between $505,000 and $550,000 a concession of up to $7,875 is available.
So whether you are looking in Holland Park, Surfers Paradise or Brisbane, you may be able to claim substantial financial assistance to buy your first home.
Example
On an established property valued at $400,000 the government benefits are as follows:
FHOG: $7,000
Stamp Duty Concession: $5,250
Total savings = $12,250
On a new home valued at $400,000 the government benefits are as follows:
FHOG: $7,000
Stamp Duty Concession: $5,250
Total savings = $12,250
Don't turn away free money! Find out now how much you can claim in first home owner grants by talking to a mortgage broker. The grants and concessions offer first time buyers a real opportunity to buy a home that is affordable. It is a major advantage for first home buyers, who have previously been priced out of the market, due to rising interest rates and property prices.
Changes to the FHOG
The First Home Owners Grant was increased in 2008 but is now due to be reduced as of 31 December 2009. The original first home owners grant of $7,000 is still available to eligible first home buyers.
The grant was boosted by the Federal Government during the global financial crisis to boost the property market but is now winding back to the original $7,000. The grant is designed to help first home buyer onto the property ladder.
If you would like more information on what you can claim please contact your nearest mortgage broker.
Looking to buy your first home in Queensland?
Setting out a plan and a budget is a good idea. This will help you to understand what you are getting yourself into, and will help you to budget accordingly not just for the mortgage repayments, but also the moving costs, legal fees and settlement fees. Talk to a mortgage broker and find out how much you can borrow. Do this before you approach any lenders or visit property auctions, so that you know what range you are looking for. You home loan must fit with your lifestyle and financial goals so don't be afraid to shop around and compare several different loans. If you get a home loan that ends up costing you more in the long run, then you could cancel out the benefit of the grants, so talk to your mortgage broker and carefully consider your options before you make your big decision. Remember, it is easy as long as you take the right advice and do your research!
Many first home owners have already been delighted with the grants they were able to claim, and now you can too. First home buyers in Queensland can find out more by visiting:
http://www.osr.qld.gov.au/duties/transfer-duty/exemptions-and-concessions/concessions-for-homes.shtml
Found your dream home? Want finance right now? Call and find your nearest mortgage broker today on 
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