[Projects] Demystifying the First Home Owner’s Grant – Build Granny Flat to Increase Yield

  • November 11, 2022
December 1, 2023 @ 2:30 pm – 3:30 pm Australia/Sydney Timezone
[Projects] Demystifying the First Home Owner's Grant - Build Granny Flat to Increase Yield

Dear Oxbridge Partners and Affiliates,

All Australian states have the First Home Owner’s Grant, with Queensland recently announcing an increase of the grant to $30,000 it is the highest grant in the country (see https://qro.qld.gov.au/property-concessions-grants/first-home-grant/eligibility/#new). We have the pleasure of inviting Mel Millar, director and Chief Designer of Funky Little Shack (https://www.funkylittleshack.com.au/) Mel has significant number of experiences in design with a Masters in Architecture.

Time and Date: Friday, 1st December, 2023, 2.30pm AEST (1.30pm QLD, 11.30am WA, 1:00pm SA/NT)
Location: Level 13/50 Cavil Avenue, Surfers Paradise QLD 4217
Zoom: https://zoom.us/j/6806901300


The Queensland government has doubled the FHOG to a massive $30,000. The changes will apply to eligible transactions between 20 November 2023 and 30 June 2025. First home owners are expected to be able to apply for the increased grant from the first week of January 2024.

To qualify, you must:

  • buy or build a new home in QLD (or a significantly renovated one) worth less than $750,000
  • move in within 12 months following the purchase and live there for six continuous months5.

First-home buyers may also be eligible for concessions on transfer duty if they intend to live in the property or build an owner-occupied property on vacant land6.

Read the full eligibility criteria and apply for the QLD First Home Owner Grant.

To be eligible for the grant, first-home buyers who buy or build a new home in NSW could receive $10,000 towards the purchase price, provided:

  • the home hasn’t been lived in previously
  • the price of the new property doesn’t exceed $600,000 or if purchasing land, the combined land and contract price doesn’t exceed $750,000
  • you occupy the property for at least six months, with your move-in date within 12 months of purchase.

Renovated homes may also be eligible for the grant3.

You could also be eligible for the First Home Buyers Assistance Scheme, which provides a partial or full exemption from transfer duty on properties under a certain value4.

Read the full eligibility criteria and apply for the NSW First Home Owner Grant (New Homes) scheme.

If you purchase a new or significantly renovated home in Victoria valued up to $750,000, you could be eligible for a grant of $10,000 towards the purchase9. If you meet all the eligibility criteria and are also purchasing a property under $750,000, you could also receive a duty exemption, concession or reduction as part of the First Home Buyer Duty Exemption, Concession or Reduction10.

Read the full eligibility criteria and apply for the VIC First Home Owner Grant.

Eligible first-home buyers in South Australia could benefit from a $15,000 grant by purchasing a new residential house, flat, unit, townhouse or apartment anywhere across the state valued up to $575,000. Substantially renovated homes may also be eligible7.

Read the full eligibility criteria and apply for the SA First Home Owner Grant.

The First Home Owner Grant in WA is worth $10,000 for the purchase or construction of a new home for properties worth $750,000 or less (south of the 26th parallel) or $1 million (north of the 26th parallel). A ‘new home’ may also include a substantially renovated house11.

If you’re eligible for the WA First Home Owner Grant, you could also be eligible for a reduction on transfer duty provided the value is under certain thresholds, $530,000 for a house and land, and $400,000 for land only12.

Read the full eligibility criteria and apply for the WA First Home Owner Grant.

Instead of a First Home Owner Grant payment, the ACT offers the Home Buyer Concession Scheme. Under this scheme, you may not be required to pay stamp duty on property purchases for new-build and established homes, provided:

  • you haven’t owned property in the past two years
  • the property is occupied by at least one buyer for a year starting within 12 months of the settlement date
  • the total combined income of the purchasers does not exceed the threshold amount2.

Read the full eligibility criteria and apply for the ACT Home Buyer Concession Scheme.

Provided the home you purchase in the Northern Territory is new or substantially renovated, you could be eligible for a $10,000 First Home Owner Grant.

Read the full eligibility criteria and apply for the NT First Home Owner Grant.

In Tasmania, if you’re purchasing a new home, an off-the-plan property, or building a new home as an owner-builder or through a registered builder, you could be eligible for a grant of up to $30,000. Some first home buyers of established homes may also be eligible for a 50% reduction on transfer duty, provided the value of the property does not exceed $500,0008 for purchases made between 16 March 2021 and 30 June 2022 (inclusive). Substantially renovated homes may also be eligible under this scheme.

Projects remain a huge part of Oxbridge’s domestic and international offering for both real estate and finance. For those that are new to projects, this session is a must attend. Projects offer significantly more commission and often less work than residential sales. It is no wonder Ben Caballero the number 1 agent in the world and current Guinness World Records exclusively sells projects (see https://www.youtube.com/watch?v=gfbwX1UUFK8). He sold 6,438 homes totaling $2.46 billion in volume in 2020. This can never never be achieved in residential sales.  For interstate agents ensure you are fully licensed so to take advantage of Automatic Mutual Recognition (see https://www.consumer.vic.gov.au/licensing-and-registration/automatic-mutual-recognition and https://www.dmirs.wa.gov.au/corporate/automatic-mutual-recognition-amr ) Oxbridge runs the full training sessions to expedite this process (http://www.oxbridge.training) In terms of finance Oxbridge Real Estate provides virtually an endless number of leads for our equity raising, mortgage and finance brokering business through unlimited listings on project portals.

The Oxbridge Global Projects Team

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