The Queensland Government is helping new homeowners enter the property market through the new Boost to Buy program. This is great news for residents in North Brisbane looking to buy their first home.
Table of Contents
- What Is the Boost to Buy Program?
- Overcoming Challenges in Brisbane’s Property Market
- How the Boost to Buy Program Works
- Eligibility Criteria
- Other Support Still Available
- How We Can Help with Conveyancing
What Is the Boost to Buy Program?
The program assists Queenslanders struggling to save for a deposit by providing government equity support. It helps eligible buyers purchase homes with a low deposit through shared equity with the government.
Introduced to help bridge the gap for Queenslanders finding it difficult to enter the property market. If you’re in Nundah, feel free to pop in and have a chat with us about how we can assist.
Overcoming Challenges in Brisbane’s Property Market
Many Queenslanders have struggled to save for a deposit due to rising home prices and stagnant salaries in Brisbane. These factors have made buying property increasingly difficult.
The program offers a new opportunity to overcome these barriers and make homeownership more accessible.
How the Boost to Buy Program Works
The scheme provides:
- 25% government equity for buyers purchasing an existing home
- 30% government equity for buyers purchasing a new home
Eligible Queenslanders can purchase properties valued up to $1 million with as little as a 2% deposit.
Find out more about the program on the Queensland Government’s Boost to Buy page.
Boost to Buy Eligibility Criteria
- Singles earning up to $150,000 per year
- Couples with a combined income up to $225,000 per year
Conditions will apply. When selling, the government will of course need to be paid back!
Other Support Still Available
The Queensland government continues to offer the Stamp Duty Exemption for new builds, and the First Home Owner’s Grant of $30,000 is still ongoing.
These combined supports aim to give Queenslanders the assistance they need to buy their first home.
How We Can Help with Conveyancing
If you are located in North Brisbane, we are based in Nundah and can help you with your conveyancing for your purchase. Call us today on 07 3350 4417 or contact us via our contact page.
Learn more about how we can assist you with your conveyancing matters.
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