The Queensland Government have introduced a grant of $10,000 that is available to any person or company buying or building a new home to live in, or to rent out for investment purposes, for homes less than $600,000 (house and land).
This grant is designed to re-ignite Queensland’s housing construction sector following a combination of falling property transfers and the economic impact of a summer of natural disasters.
The grant is not restricted to first home owners only. The grant is open to home buyers and investors (18+ years of age). The applicant must be a citizen or permanent resident of Australia. Companies and trustees may also apply. Company and trust applicants must be Australian owned to be eligible.
The grant is not payable for a building contract, or to an owner builder, if the applicant carries on the business of building homes and the home was constructed for sale in the course of that business.
Shape Home Loans brokers can apply for this grant on your behalf; as the process for application, lodgement and payment is very similar to the current process for First Home Owner Grants (FHOG) from the Queensland Government.
The Building Boost Grant runs from 1 August 2011 to 31 January 2012. The contract to buy or build a new home must be entered into between those dates. For more information visit http://boost.treasury.qld.gov.au/ where you will also find a very helpful FAQ section.