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First Home Buyers Guide 2026

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 QLD First Home Buyer Guide – 2026

Buying your first home is an exciting experience but also one that can be very daunting.  A big part of our job is to answer the many questions that you may have in plain language.  Here are some answers to some of the most common questions we get asked as well as some tips on the buying process. 

 

 Support for First Home Buyers in Queensland*

1. First Home Buyers Grant 

– A $30,000 grant available until 30 June 2026

– Must buy/build a new home (not established)

– Property value must be under $750,000

2. Stamp Duty Savings 

– New Homes or Land – $0 stamp duty (no price cap)

– Established Homes:

– Up to $700,000 –  $0 stamp duty

– $700,000 to $800,000 – partial concession

– $800,000+ – no concession 

💰Example stamp duty savings on a $700,000 property = $17,350 

 

Federal First Home Buyer Schemes  

 – First Home Guarantee (5% deposit, no LMI)

 – First Home Super Saver Scheme (save deposit via super)  

To qualify for support, you must:
✅ Be 18+ years old
✅ Be an Australian citizen or permanent resident
✅Never owned property before (in most cases)
✅Live in the home within 12 months and stay at least 6 months 

 

Key Steps To Consider as a First Home Buyer  

Step 1 – Speak to a mortgage broker to understand your borrowing capacity 

Step 2 -Get pre-approval (VERY IMPORTANT)

Step 3 – Understand Your Budget.  You will need to factor in:

– Deposit required (typically 5% – 20%)
 – Stamp Duty (if applicable)
 – Legal, inspections and moving costs 

Step 4 – Make an offer & sign the contract 

– Subject to finance & building inspection 
 – Pay the deposit 

 Step 5 – Apply for grants if eligible.  Your mortgage broker can assist with this.

Step 6 – Settlement within the required timeframe 

 

Key Mistakes To Avoid as a First Home Buyer 

❌ Not obtaining pre-approval first
❌ Buying just to take advantage of available grants
❌ Not taking into consideration flood zones (very important in QLD)
❌ Buying on emotion (often leads to overpaying)
❌ Not factoring in ongoing costs when budgeting (rates, insurances, etc)