FIRST HOME BUYERS

Government Building Grants

It can be tough getting onto the property ladder, leaving first home buyers with very little choices. We are happy to tell you that we can help you to secure finance to live in a brand new home built by Beachwood Construction QLD. It’s not as hard as you might have thought. We have partnered with a lender to streamline the application process for you. If you meet the criteria below then fill out the Loan Eligibility Form and we’ll get back to you to tell you know if you are eligible for a first home owners bank loan.

First Home Builders Grant - $25,000

Eligibility checklist:
- You must not have previously received a HomeBuilder grant in any state or territory of Australia.
- You must be at least 18 years of age. (Companies and trusts cannot apply.)
- You must be an Australian citizen at the time you apply.
- Your 2018–19 or 2019-20 annual taxable income must be below:
$125,000 for an individual
$200,000 for a couple.

- You will be the registered owner on the title.
- The home will be your principal place of residence after completion or settlement.
- The contract is signed between 4 June 2020 and 31 December 2020 to:
Buy an off-the plan or new home valued at $750,000 or less and construction had not started before 4 June 2020
or
Build a new home valued at $750,000 or less (house and land)
or
Substantially renovate an existing home, where:
Renovations cost between $150,000 and $750,000 & Value of property (house and land before renovation) is less than $1.5 million

First Home Owners Grant - $15,000

Eligibility checklist:
- You must be at least 18 years of age.
- You must be an Australian citizen or permanent resident (or applying with someone who is).
- You or your spouse must not have previously owned property in Australia that you lived in.
- You must be buying or building a brand new home.
- The value of the home including the land is less than $750,000.
- You must move into the new home as your principal place of residence within 1 year of the completed transaction and live there continuously for 6 months.

Regional Home Building Boost Grant - $5,000

Eligibility Checklist:
- You must be at least 18 years of age
- You must be an Australian citizen or permanent resident (or applying with someone who is)
- You or your spouse must not have received a previous regional home building boost grant
- You must be buying or building a brand new home
- The value of the home including the land is less than $750,000
- You must move into the new home as your principal place of residence within 1 year of the completed transaction and live there continuously for 6 months
- The home is being bought or built in a regional Queensland area
- You have entered into an eligible transaction.

Eligible Transactions:
An eligible transaction is:
- a contract to buy new home, including a substantially renovated home
- a contract to build a new home
- the building of a new home by an owner-builder.

The contract must be entered into between 4 June 2020 and 31 December 2020.

If you are an owner-builder who is building a new home, your build must have commenced from 4 June 2020 onwards.

HomeBuilder extension - $15,000

As recently announced, the HomeBuilder program will be extended to 31 March 2021.

Changes to the HomeBuilder program include:

  • A $15,000 grant for building contracts (new builds and substantial renovations) signed between 1 January 2021 and 31 March 2021, inclusive.
  • An extended deadline for all applications to be submitted, including those applying for the $25, 000 grant and the new $15,000 grant. Applications can now be submitted up until 14 April 2021 (inclusive). This will apply to all eligible contracts signed on or after 4 June 2020.
  • An extension to the construction commencement timeframe from three months to six months for all HomeBuilder applicants. This will apply to all eligible contracts signed on or after 1 January 2021, but will also be backdated and apply to all contracts entered into on or after 4 June 2020.
  • An increase to the property price cap for new build contracts in New South Wales and Victoria to $950,000 and $850,000, respectively, where the contract is signed between 1 January 2021 and 31 March 2021, inclusive.
    The existing new build property price cap of $750,000 will continue to apply in all other States and Territories.
  • A change in licensing requirements and registration for builders and developers, as below
  • Where an eligible contract is signed on or after the 29 November 2020, the builder or developer must have a valid licence or registration before 29 November 2020.
  • Where an eligible contract is signed before 29 November 2020, the builder or developer must have a valid licence or registration before 4 June 2020.

Other than the above, the existing program criteria applies. That is, the other existing eligibility criteria remains in place and the $25,000 grant will still be made available for eligible contracts signed on or before 31 December 2020.

You will continue receive updates on HomeBuilder when more information is available.

Mortgage Broker Application Form

Do you want to know how much you can borrow?

Fill out and submit your fast fact find mortgage application and we will get back to you as soon as possible. Alternatively you can download / print out our application here:  Mortgage Application

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