8 REASONS WHY NOW IS THE BEST TIME TO BUY YOUR FIRST HOME!
- You may not need to contribute to a deposit for your purchase.
- Interest rates are at a record all-time low!
- Mortgage repayments are less than the weekly house rental in your area.
- The QLD, NSW and VIC Governments are providing First Home Buyers with up to $20,000 in grants* for buying a brand new home. First Home Buyers don’t pay Stamp Duty. Based on the land value of up to $250,000 for QLD and $350,000.00 for NSW and VIC saving you up to $7,175.00.
- First Home Buyers don’t pay Stamp Duty. Based on the land value of up to $250,000 saving you $7,175.00
- You don’t have to move in straight away!Don’t worry if you have 4 months left on your current lease – buy now and fulfil Government requirements by moving in within a year. Rent it out in the meantime. You are required to move in to your property within a year and live there for 6 months. (Note: you will not qualify for the Stamp Duty Concession if you rent out the property initially)
- You can rent the property out after living there for 6 months. (Note: in order to retain the Stamp Duty Concession you must live in the property for 12 months)
- The First Home Buyers Great Start Grant has changed a number of times over the years, with the current Grant being the most financially attractive. The opportunity is NOW to take advantage of this Grant while it is available, as the Government can withdraw or change the structure at any time.
Whilst care has been taken the particulars of this information are not to be construed as containing any representation of the facts upon which any interested party is entitled to rely. All interested parties should make their own enquiries. Information contained is correct at the time of publication. *Terms and conditions at www.qld.gov.au/greatstartgrant and www.osr.nsw.gov.au/grants and www.sro.vic.gov.au/regional