From May 1, first home buyers in Queensland get a major leg-up, with the Queensland State Government announcing the abolishment of stamp duty for first home buyers buying or building a new home.
That’s a huge chunk of upfront savings. Even better? You can now rent out rooms without losing your first home buyer perks.
If you’re planning to build your first home at Amory, this is seriously good news.
Stamp Duty Abolished for New Builds
Yep, it’s official, stamp duty is gone for eligible first home buyers buying or building a new home in Queensland. That means you could save thousands just by making your move now.
Here’s what you need to know:
- The savings are big. For an average house and land package, buyers could save around $9,900 and even more in some areas.
- It’s already in effect. If you’re buying from May 1 onwards, you’re good to go.
- It only applies to new homes. So, building brand new is the way to go if you want to take advantage.
New Flexibility for First Home Buyers: Rent Out a Room
On top of the stamp duty savings, first home buyers now have more freedom than ever. Under the new legislation, first home buyers can now rent out rooms in their home without losing access to grants or incentives.
Here’s what’s changed:
While you’ll still need to live in the property for at least one year, you’re no longer restricted from renting out part of your home during that time. That means you can have a housemate or tenant from day one, and still keep all your first home buyer benefits.
That’s a win if you’re looking to:
- Offset your mortgage with a little rental income
- Share your space while still holding onto your FHB benefits
- Make your first home work harder for you
It’s all about giving first-time buyers more flexibility and helping with the cost of living.
Thinking About Building Your First Home at Amory?
There’s never been a better time to start planning. With stamp duty scrapped and more freedom to rent out rooms, getting into your first home is more within reach than ever.
While our current land release is sold out (yep, things move fast around here!), we’ve got more land coming soon, and we’d love to keep you in the loop.
Want first dibs on our next release? Register your interest and we’ll make sure you don’t miss a thing.