Are you a first home buyer in Queensland?
It’s time to take advantage of the Government grant for first time home buyers before it decreases from a $20,000 grant to a $15,000 grant after 30th June 2017. Under Queensland law, first home buyers can access the grant if they are building a secondary dwelling on a family member’s land.
The Queensland First Home Buyers Grant is available to any Australian over 18 who is purchasing or building their first home in Queensland.
They (or their spouse) cannot have owned property they have lived in anywhere in Australia previously.
The home must be brand new and cost under $750k.
If your contact contract is dated before 30th June 2017 you will be eligible for the $20k grant. If your contract is dated from the 1st July 2017 you will be eligible for $15k.
Secondary dwellings such as ‘granny flats’ are eligible if they are brand new and built on a family member’s existing property.
The property must be lived in by the owner for six months of the first year of ownership or the grant will be reclaimed.
Nano Homes is offering first home buyers the chance to get their foot on the property ladder with the opportunity to purchase a Nano Home and put it on a relative’s land. Nano Homes are stylish and functional 1 and 2 bedroom homes that can be added to a property to be used as a granny flat, extra accommodation or as a first home for young people. They are the perfect, affordable solution for young people looking to purchase their first home.
Am I eligible to purchase a Nano Home?
If you are considering applying for a first home buyers grant but you aren’t sure how much the banks will let you borrow- we can help.
At Nano Homes, we use two calculations when working out what you can and can’t afford to do and the good news is that if you can’t afford to do something just yet this doesn’t mean that you can’t have a look into it and see where your limitations might be.
Our first calculation is borrowing capacity, we base this on your servicing – we consider your incomings and outgoings. Your borrowing capacity comes down to incoming versus outgoing – it’s basically how much you can afford to make the repayments.
The second calculation we use is buying power, this combines your borrowing capacity with how much available funds you have. We can then look at what you can comfortably afford as well as determine what kind of buffer works for you.