First Time Home Buyer's Guide 2025: Grants, Schemes & Stamp Duty Savings Explained Simply

Taking your first steps into the Queensland property market is exciting, and right now there's never been a better time to be a first home buyer in Queensland. Between federal government schemes, state grants, and stamp duty concessions, you could save tens of thousands of dollars—potentially letting you enter the property market years earlier than you thought possible.

We break down everything available to you so you can save money and get the keys to your first home sooner.

Your Path to Affordable Home Ownership 

Major opportunities are available to Queensland first home buyers right now:

1. The First Home Guarantee (5% Deposit Scheme) – Buy with just 5% deposit and avoid Lenders Mortgage Insurance
2. Queensland's Boost to Buy Scheme (launching soon) – Get up to 30% government equity contribution with only a 2% deposit
3. The $30,000 First Home Owner Grant – Receive up to $30,000 cash for buying or building a new home
4. Stamp Duty Savings - Eligible first home buyers no longer pay stamp duty on new builds

The First Home Guarantee (5% Deposit Scheme)

From October 1, 2025, the federal government expanded the First Home Guarantee with unlimited places, no income caps, and increased property price caps. This scheme allows you to buy with just a 5% deposit without paying Lenders Mortgage Insurance (LMI), which can save you thousands upfront.

Eligibility:

• Australian citizen or permanent resident
• First home buyer (never owned property in Australia)
• Minimum 5% deposit saved
• Property under the price cap for your area
• Must live in the property as your home

Apply through participating lenders including major banks and regional lenders. Get pre-approved before you start house hunting.

Queensland's Boost to Buy Scheme (Launching Soon)

Announced in the 2025-26 Queensland Budget, the $165 million Boost to Buy scheme provides a government equity contribution of up to 30% for new homes and 25% for existing homes. This is a shared equity scheme where the Queensland Government literally buys part of your home with you.

How it works: You need just a 2% deposit to purchase a property valued up to $1 million. The government contributes their share, and you can buy them out over time or when you sell.

Example: Buying a $700,000 existing home? You contribute $14,000 (2% deposit), the government contributes $175,000 (25% equity), and you borrow $511,000.

Eligibility:

• Single purchasers earning up to $150,000 per year and couples earning up to $225,000 combined
• First home buyer
• Property valued up to $1 million
• Australian citizen or permanent resident

The $30,000 First Home Owner Grant (New Homes)

Queensland offers eligible first-time buyers either $15,000 or $30,000 towards buying or building a new home, with the boosted $30,000 grant extended until June 2026.

Who gets what:

• $30,000 grant: Available if you signed an eligible contract between November 20, 2023 and June 30, 2026
• $15,000 grant: Standard amount after June 2026

Important: NEW HOMES ONLY This grant only applies to:

• Brand-new house or unit from a builder
• Building a new home on vacant land
• Substantially renovated homes (not lived in post-renovation)
  

Eligibility:

• First home buyer (all co-applicants must be first home buyers)
• Australian citizen or permanent resident
• New home valued under $750,000 (including land)
• Move in within 12 months and live there for at least 12 months

Good news: The First Home Owner Grant is separate from the Home Guarantee Scheme, so eligibility for one doesn't affect the other. You can stack these benefits.

Stamp Duty Savings

Transfer duty (stamp duty) is a one-off tax paid to the Queensland Government when buying property. For first home buyers, this is where massive savings happen.

Stamp Duty Abolished for New Home Buyers

• Eligible first home buyers no longer pay stamp duty on new builds. On a $650,000 new home, that's approximately $22,000 you don't have to pay.

First Home Concession for Existing Homes

• Full exemption (pay $0): Properties up to $700,000
• Partial concession: Properties between $700,001 and $800,000

To claim your stamp duty concession:

• You have never owned property anywhere in Australia before (note: if buying with others, you can claim the concession on your share even if they don't qualify)
• Australian citizen or permanent resident
• Move in within 12 months of settlement
• Live there continuously for at least 12 months
• Property is within threshold limits
• Residential property only (houses, units, townhouses, vacant land for building)

Building on vacant land? You can still claim concessions if you start building within 2 years of buying the land and move in within 12 months of completion. Total value (land + build) must stay within thresholds.

What If Only One Person is a First Home Buyer?

Stamp Duty Concessions: Partial Benefits Available

You can claim a first home concession on your share of the property, even if your partner doesn't qualify. For example, a couple can buy together with one person claiming the first home concession and the other claiming the general home concession.

In practice: If buying 50/50, the first home buyer claims the concession on their 50% share, while the other partner may claim the general home concession on their share (if the property is under $350,000). Total stamp duty is calculated based on both concessions combined.

First Home Owner Grant and Other Schemes: All Must Qualify

All applicants and their spouses must meet eligibility requirements for the First Home Owner Grant. If one person has owned property before, you won't qualify. This is an "all or nothing" benefit with no partial grants.

The calculations with mixed concessions can be complex. Contact Cozee to discuss your specific situation and calculate the best approach for maximising your benefits.

Stacking Your Savings: Real Examples

Important Considerations

Frequently Asked Questions

Can I combine Boost to Buy and the First Home Guarantee? Potentially. They serve different purposes. Confirm with lenders as schemes develop.

What if only one of us is a first home buyer? For stamp duty, you can claim partial concessions on the first home buyer's share. For grants and schemes like the First Home Owner Grant, all applicants must be first home buyers—there are no partial grants available.

Can I rent out a room? Yes, new homeowners can now rent out a room without losing grants and concessions .

What if I need to sell early? Contact the Queensland Revenue Office immediately. Genuine hardship may be considered with evidence.

Time limits on schemes? $30,000 grant until June 2026. First Home Guarantee is ongoing. Boost to Buy has limited places initially.

The Cozee Difference

Navigating multiple schemes and eligibility requirements is complex. Cozee specialise in helping Queensland first home buyers maximise savings while minimising stress.

We'll check your eligibility, handle all paperwork and lodgements, coordinate with your lender, ensure correct timing, and protect your interests throughout the process.

Navigating your first property purchase? Reach out today and let's make your first home purchase smooth, strategic, and successful.