First Home Buyer – Move-In-Rules

As a first home buyer, it is expected the property you are purchasing will be your primary residence, also known as your PPR (Principal Place of Residence).

Making use of different government schemes as a first home buyer means you MUST move into the property within strict time frames;

First Home Guarantee Scheme (Australian Federal Government)
– purchasers must move in within 6 months of the settlement date and live there as their principal residence while the guarantee is active, otherwise potentially having to pay Lenders Mortgage Insurance (LMI).

First Home Owner Grant – FHOG – (Queensland State Government)
– purchasers must move in within 12 months of the settlement date or completion and live there continuously for at least six months; failure to meet these conditions requires you to notify the Queensland Revenue Office (QRO) and repay the grant. 

First Home Buyer Stamp Duty Concession (Queensland State Government)
– purchasers must move in within 12 months of the settlement date then are required to live in it as your principal place of residence for a consecutive period of at least 12 months.