FHOG & Finding Your Block

We know building your first home can be often be a confusing and overwhelming time, there’s important decisions to be made and for a lot of people, it’s the most money they will ever invest in their lifetime. We understand how daunting that can feel and that’s why as a team with over 25 years’ experience, we’ve put together a number of important points or steps for you to consider when you start the exciting process of looking for that patch of dirt, you’ll get to call your very own! 🏡⠀⠀⠀⠀⠀⠀⠀⠀⠀
Let’s start out with the current FHOG or First Home Owners Grant. The Queensland First Home Owners’ Grant is a state government initiative to help first home owners to get their new first home sooner. If your contract is dated 1 July 2018 or later, you can currently get $15,000 towards building your new house, unit or townhouse as long as the property is valued at less than $750,000. Some banks will even consider this $15,000 as part of your deposit! Check with your bank or broker for more information on if that is applicable to you – If it is, you could be getting into your first home sooner than you thought! A recently new scheme means you may also be able to skip paying Mortgage Insurance (if you’re 1 of the first 1000 applicants and your loan is under 400k) ⠀⠀⠀⠀⠀⠀⠀⠀⠀
Chat to your Bank or Broker! 👌🏼⠀⠀⠀⠀⠀⠀⠀⠀⠀
You’ve got a deposit and you’re ready to start shopping for a block of land. 🎉⠀⠀⠀⠀⠀⠀⠀⠀⠀
If working with an agent, it’s important to ensure they are giving you full disclosure on prices and availability for what’s currently on the market but also of anything coming up. They should be going above and beyond to source a block that suits your needs and your budget. People often have a firm idea on where they are happy to live (north side, south side or central) and what are the “must haves” for their first home. Whether that’s close to the beach, a large shed or space for the kids to run around.
In Cairns the perfect block for most is usually stipulated by land size and ideal location. However, we often see these requirements change during the process, either due to availability or budget.
It’s equally as important to find an agent and a builder that matches your enthusiasm. Building your first home is a huge achievement and one that is incredibly exciting. You want someone to get on that rollercoaster and ride with you!
If you’re struggling to narrow down what you’re looking for, our helpful and experienced team of consultants are always available to help you track down that elusive ‘unicorn’ block of land that ticks all the boxes! Just shoot as a message or email and we can have someone get in touch.