First Home Buyers Scheme QLD

What Is the First Home Buyers Scheme Qld?

The First home buyers scheme Qld isn’t a single payment. It’s a collection of state and federal initiatives designed to reduce upfront costs and make home ownership more accessible.

These include:

• The First Home Owner Grant Qld
• Stamp Duty Concessions Qld
• The First Home Guarantee Scheme Qld

Depending on your situation, you may be eligible for one or many of these programs.

We share what these are and some of the key eligibility criteria.

First Home Owner Grant QLD

The First Home Owner Grant Qld provides eligible first-time buyers with financial assistance when purchasing or building a brand-new home.

The grant currently offers:

• $15,000 for contracts signed before 20 November 2023
• $30,000 for contracts signed between 20 November 2023 and 30 June 2026 (both dates inclusive)

To qualify, the home must be new and valued under $750,000 (including any land or contract variations).

This grant is a direct payment — not a discount on tax. It can contribute toward your deposit, construction costs or loan.

Full eligibility criteria are available via the Queensland Government website.

For many buyers building with Neptune Homes, this grant forms a key part of their deposit strategy.

Stamp Duty Concessions QLD (Transfer Duty)

When you buy property in Queensland, you’re usually required to pay transfer duty — previously known as stamp duty. It’s calculated on the purchase price and can add a significant upfront cost.

However, under the broader First home buyers scheme Qld, several concessions (and in some cases exemptions) can reduce or eliminate this tax.

From 1 May 2025, first home buyers who purchase a new home or vacant land to build their first home may be eligible for a full concession that reduces their transfer duty to nil.

Here’s a quick breakdown of the main options.

Home Concession
Available when buying a home to live in, even if you’ve owned property before. This can reduce duty by up to $7,175. You must move in within one year.

First Home Concession (Established Home)
Applies to first homes valued under $800,000.
If the home is $700,000 or less, you’ll pay no duty.
Between $700,000 and $800,000, partial concessions apply.

First Home (New Home) Concession
If you’re buying a new home and your contract was signed on or after 1 May 2025, you may receive a full concession which reduces duty to nil, regardless of value.

First Home Vacant Land Concession
If you’re purchasing vacant land to build your first home, you may also qualify for a full concession that reduces duty to nil.

Concessions reduce the duty you pay. An exemption means no duty is payable at all, regardless of property value. Exemptions generally apply in specific situations, such as transfers between spouses or as part of a divorce settlement.

You can review full details here.

If you’re building a new house in Queensland, the savings available under the Stamp Duty Concessions Qld can significantly reduce your upfront costs.
 

First Home Guarantee Scheme QLD

The First Home Guarantee Scheme Qld is a federal initiative administered by Housing Australia under the Home Guarantee Scheme.

Under normal lending conditions, buyers with less than a 20 percent deposit must pay Lenders Mortgage Insurance (LMI). The First Home Guarantee allows eligible buyers to purchase with as little as 5 percent deposit without paying LMI, because Housing Australia guarantees up to 15 percent of the property value to participating lenders.

Key eligibility criteria include:

• Income cap of $125,000 (individual) or $200,000 (joint)
• Minimum 5 percent genuine savings
• Owner-occupier requirement
• Property price caps (Queensland: $700,000 in capital city and large regional centres; $550,000 in the rest of the state)
• Principal and interest loan terms

The First Home Guarantee Scheme Qld is not a cash payment — it simply reduces the need for LMI, which can represent a major saving.

More information can be found via the Australian Government’s First Home Buyers website.

Why Building a New House Can Unlock More Support

Many elements of the First home buyers scheme Qld favour new builds.

When you build a new house, you may:

• Qualify for the First Home Owner Grant Qld
• Receive full Stamp Duty Concessions Qld
• Access the First Home Guarantee Scheme Qld

Beyond financial incentives, building new also means:

• No asbestos, termites or outdated wiring
• Modern energy efficiency and lower running costs
• Full construction warranties, including Neptune’s 50-Year Structural Warranty
• Our Ultimate Price Guarantee with 12-month price hold plus best price promise
   

First Home Buyers Scheme QLD: What Should You Do Next?

The First home buyers scheme Qld includes multiple programs, each with its own eligibility rules and contract date requirements. The best first step is to speak with both a broker and one of our New Home Consultants early in your planning process.

At Neptune Homes, we regularly work with first home buyers across Queensland to structure builds that align with available grants and concessions.

If you’re considering building your first home, check out our home designs here.

With the right advice and the right builder, navigating the First Home Buyers Scheme QLD can be far more straightforward than it first appears, and owning your own home, even closer than you think!