With the the 2017 Federal Budget changes providing prospective buyers with new incentives to purchase their new home, Queensland's State Government has recently announced that the First Home Owner's Grant has been extended til the 31st of December, 2017.

Queensland's First Home Owner's Grant enables buyers to purchase their new home sooner by providing up to $20,000 towards buying or building a new house, unit or townhouse, provided that it's valued at less than $750,000. Given our recent coverage on the reality of buying new property in Australia, it's better now than ever to set your foot in the real estate market.

So what's the best steps to take when considering your first home? Whilst experts in the field will attest to the fact given the median price for real estate, whenever you are financially able is the best time, we all want our bang for buck.

In our experience, most first-home buyers look for properties which suit their lifestyle, and yield positive capital growth over time so they can take that second step up the rung of real estate.

We've hand-selected some of Queensland's best picks for first home buyers with a budget of $500,000 to get you started in our sunny State.

In the Heart of it All

Wanting to be in walking distance of both work and play? Living close or within the Brisbane CBD means that you're connected and will find it very easy to get where you want to go, fast.

$500,000 in this highly sought after area will see you in the one-bedroom range, with savvy prospectors able to grab two-bedroom apartments within this scope. Often with this area, buyers can expect a strong focus on quality, convenience and amenities. We've listed some of the best options for you to consider in Brisbane's inner ring.

Brisbane's Inner CBD best picks for one bedrooms

  • CBD - Spire, Starting from $407,000

  • Teneriffe - Nero, starting from $465,000

  • South Brisbane - Magellan, starting from $461,500

Journey to the West

Not looking to be a part of the hustle and bustle, or just want more options with more rooms? Brisbane's outer ring of apartments and townhouses has got you covered. Whilst these are considered to be outside of Brisbane's CBD, the majority of these suburbs lie within 10km of the district, and are surrounded by their own hubs for retail and recreation.

Broadening your horizons to these regions will see you into the two-bedroom ranges, with prices ranging from $400,000 and above for your first home.

Brisbane's outer ring picks for two bedrooms

A Hearth to Call Home

If a house is what you want to call home, Brisbane's western corridor has some of the most competitive prices in today's market. With generous land sizes and ample space for young couples to start their family, these suburbs are located within 15-20km from the CBD.

You'd be hard-pressed to find land sizes this generous in other states: These houses are built as homes, with prices that won't hurt the bottom dollar in terms of land size-to-value.

Brisbane's picks for houses & townhouses

With so many options to choose from, talk to us today to find the home that's perfect for you.