$10,000 Building Boost

FAQs

In order to stimulate the housing construction sector, the Queensland state government is offering a $10,000 Building Boost, available when buying or building a new residence valued under $600,000.

Building Boost Links

The following links can assist you with further information on the Queensland Building Boost:

Queensland Government Building Boost Official Website

Queensland State Treasury Official Budget 2011/2012 Website

Which Property Building Boost FAQs

How will the Building Boost affect you?

Owner Occupiers

Owner occupiers looking to upgrade, downsize or after a sea change can apply for the Building Boost when building or buying a new home.

Investors, Companies and trusts

Investors, companies and trusts buying or building a new residence to rent can apply for the building boost.

First Home Owners

First home buyers will be eligible for the First Home Owner’s grant on top of the Building Boost. The First home owner grant in Queensland is $7,000, which is a total $17,000 in grants plus significant concessions on stamp duty for first home buyers.

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Building Boost FAQs

When does the Building Boost finish?

The Queensland Building Boost is available for six months and finishes on the 30th of April 2012.

Who is eligible?

Australian permanent residents or citizens over 18 years of age are eligible for the Queensland Building Boost. Substantially Australian owned Corporations and Trusts are also eligible.

What type of home is eligible?

Building or buying a new house, house and land package, unit, duplexes, townhouses and other detached dwelling such as granny flats in Queensland are all eligible.

Is there a limit on the value of homes eligible for the Boost?

The value of the home, that is both house and land, has to be less the $600,000. 

Is the Boost available with other grants?

If eligible, you can receive both the Building Boost and First Home Owners grant. 

Are there rules on who can live in the residence?

The residence needs to be lived in for a minimum of three months within the first year of owning the home. However, you can live in it, rent it or allow someone else to live in it.

What I am buying a new residence from the developer, but it already has a tenant?

To be eligible, your property can not have been lived in prior to purchase.

What if I am buying off the plan and my residence is not built when the grant finishes?

When purchasing off the plan, your residence needs to have commenced building buy the 30th April 2013 and be completed by the 30th April 2015.

What if I am building and my residence is not built when the grant finishes?

You need to have entered your contract to build by the end of the grant, which is the 30th of April 2012. Building of your new residnece needs to commence within 26 weeks of entering your contract and be completed within 18 months.

However, if you are an owner-builder, work needs to have commenced on your residence by 30th April 2012.

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