Can the HomeBuilder Grant be used as a deposit?
Under the program in most cases you cannot use the HomeBuilder Grant as a despoti but may be able to use this as funds to complete. As a result, You will still require a 5% – 10% deposit for a construction loan unless you’re applying with a guarantor or have equity in an existing property.
Can the HomeBuilder Grant with other QLD building Grants?
Most definitely. The QLD HomeBuilder grant can be used with existing state grants like First Home Owners Grant (FHOG) and even the First Home Loan Deposit Scheme if you’re an eligible first home buyer.
This means that utilising the HomeBuilder Grant with the FHOG or First Home Loan Deposit Scheme could see first home buyers receive up to $50,000 in value.
Can the HomeBuilder Grant be used as funds to complete for my build?
Here in Queensland, the grant can be treated as funds to complete if the applicant gets pre-approval which is great news for you.
It cannot however be used for off the plan purchases in Queensland.
As with any build, making decisions, getting finance and finding that perfect acreage block can take time and with applications required to submitted by 14 April, best that you act now!