Your guide to first home buyer grants and schemes in QLD

Purchasing a new home can feel overwhelming - especially if you’re navigating the several government schemes designed to help first‑time buyers enter the market sooner. To make things easier, we’ve summarised the major state and federal initiatives available to Queensland buyers today.

Whether you’re building your savings, looking to reduce your home loan repayments, or wanting to accelerate your path into the market, there’s likely a scheme that can support your next step toward home ownership.

First Home Owner Grant (FHOG)

Best for: First‑home buyers purchasing or building a new home under $750,000.

The Queensland First Home Owner Grant offers up to $30,000 for eligible first‑time buyers who are purchasing or building a brand‑new home valued under $750,000.

Key benefits

• A significant boost to your deposit
• Applies to brand‑new homes, including house‑and‑land packages and off‑the‑plan builds
• Can be paired with federal schemes such as the 5% Deposit Scheme or Help to Buy

Considerations

• You must meet Queensland’s eligibility criteria
• The home must be new (not previously lived in)
• The $30,000 boosted amount is only available until 30 June 2026. Contracts must be signed before then to qualify.

Boost to Buy

Best for: First‑home buyers struggling to save a large deposit but with a stable income.

Boost to Buy is a Queensland Government shared‑equity initiative (similar to the federal government’s Help to Buy – see below) that allows eligible first‑home buyers to purchase a home with just a 2% deposit. The state contributes up to 30% for new homes or 25% for existing homes in exchange for an equity share.

Key benefits

• Buy with a 2% deposit
• Equity contribution of up to 30% (new builds)
• Helps reduce mortgage repayments
• Supports buyers priced out by rising market conditions

Considerations

• You must finance through the government’s approved lender
• Income caps apply: up to $150,000 (single) or $225,000 (couple)
• Property price must be $1 million or less
• Government retains an equity share that must be repaid when selling or refinancing
• Limited annual places available

5% Deposit Scheme (formerly First Home Guarantee)

Best for: Buyers who want full ownership with minimal savings.

Through the 5% Deposit Scheme, eligible buyers can purchase with a low deposit of just 5%, while the federal government guarantees up to 15%, helping avoid Lenders Mortgage Insurance (LMI).

Key benefits

• Only 5% deposit required
• No LMI
• You retain 100% ownership
• Not just for first home buyers - you can qualify if you have not owned a home, unit, or land in Australia in the past 10 years.
• Available across major lenders
• Competitive interest rates available
• No limit to number of spots available

Considerations

• Higher LVR (loan-to-value ratio) can mean higher monthly repayments
• Property price caps apply and vary by location

Help to Buy

Best for: Buyers struggling to build a large enough deposit.

With Help to Buy, the federal government may contribute up to 40% for new homes in exchange for an equity stake, reducing both deposit size and loan repayments.

Key benefits

• Very small deposit needed (as low as 2%)
• Reduced loan amount may mean lower repayments
• No LMI
• Government equity is interest‑free

Considerations

• Government owns a share of your home
• You must buy back that share over time or when selling
• Income caps and property caps apply
• Limited spots available each year
• Limited flexibility for home improvements
• Limited loan structure flexibility
• Terms & conditions apply to refinancing and selling

First Home Super Saver Scheme (FHSSS)

Best for: Buyers saving over a 2–5 year horizon.

This scheme, administered by the Australian Tax Office, allows voluntary super contributions (up to $15,000 per year) to be withdrawn later (up to $50,000 total), and put toward your deposit - benefiting from concessional tax treatment in the meantime.

Key benefits

• Significant tax advantages can help your savings grow faster
• A practical long‑term deposit‑building strategy
• Can be used alongside other schemes
• You retain full ownership of your home

Considerations

• Does not reduce house prices or repayments
• Funds are locked in super until released
• Withdrawals are taxed (at concessional rates)
• Subject to annual and lifetime contribution caps
• Super market fluctuations may affect your total

At a glance: scheme comparison

First home buyer duty discounts

Many first home buyers in Queensland are also eligible for land transfer (commonly known as stamp duty) concessions, saving them a significant amount when they purchase a new or established home, or vacant land to build on.

• Established homes
• Full concession for homes valued $700,000 or less
• Partial concession up to $800,000
• New homes
• Full concession, no matter the value of the property
• Vacant land
• Full concession, no matter the value of the property

Which scheme is right for you?

Everyone’s financial situation is unique. Some buyers will benefit most from the large equity support of Boost to Buy, while others may prioritise full ownership through the 5% Deposit Scheme.

Long‑term savers might lean on the FHSSS, while buyers looking to maximise upfront support might consider Queensland’s $30,000 First Home Owner Grant.

Choosing the right scheme can feel complex, and eligibility criteria vary between programs. That’s why we partner with Loan Studio, specialists in construction lending and first‑home finance.

Their team can help you:

• Understand which Queensland and federal schemes you qualify for
• Determine how to combine schemes for maximum benefit
• Evaluate your borrowing capacity
• Understand different types of loans
• Compare products tailored to your situation
• Structure your loan to reduce repayment time and total interest
• Secure pre‑approval and ensure a smooth settlement process
• Provide comfort letters to assist in you in securing land and/or a new home.

Government grants and schemes can open the door to home ownership when it might otherwise feel beyond reach. Chat to one of our expert new home consultants at a Plantation Homes display centre near you, or get started with a free finance health check from Loan Studio today.