First home buyers, this one’s for you!

Thursday 07 May, 2020

Is now the right time to buy your first home? We think so! There are many government incentives for first home buyers at the moment, so we decided to put them all in one place so it’s clear for you. Read on to get all the facts about living the Australian dream and starting your property portfolio!

The $20,000 First Home Owners Grant, for new or newly built homes, has been extended until June 2022. That means if you’re wishing to build or purchase a brand new home, the Government will help you out with an additional $20,000 on top of your savings.

If you’re purchasing an already established home (that does not exceed $400,000 in value), the government will apply a 50% discount on your stamp duty. This incentive has also been extended to 30 June 2022, and in some cases can save you more than $6,000… perfect for getting started on those home renovations!

The FHLDS was announced in January 2020 and allows first home buyers to buy into the property market with a deposit as little as 5%. The government limited the scheme to 10,000 successful applications only. With over 5,000 positions already filled, it’s important to start having these conversations now!

Some more good news? The FHLDS is able to be used in conjunction with other government schemes, making the process even easier.

With all incentives and schemes, there are terms and conditions. But, working alongside our experienced brokers, we will ensure you are equipped with all the right tools to help you navigate through the T’s & C’s, and make sure we’re getting you the best deal for your new home.

Get in touch to see how we can help you!

You might also like...

Finance Brokers Tasmania selling a house Hobart

Preparing for Interest Rate Hikes!

When you consider a ‘hike’, what is the first thing that springs to mind? A walk through the bush or a sharp rise? The RBA lifted the official cash rate by 25 points to .35 percent last week – the first rise in 11 years. While we understand that a rate rise is never a good thing, interest rates are still at historic lows and we wonder if the use of the word ‘hike’ is a necessary one!

Finance Brokers Tasmania Lance Cure Gary Casboult

What is a SMSF?

Self-managed super funds (SMSF) are a different way of saving for retirement. A SMSF gives flexibility and control over where your retirement funds are invested, including the opportunity to invest in residential and commercial property.

Finance Brokers Tasmania - fixed interest rates

Government Grants - A budget Update 2022/23

If you missed the 2022-23 budget announcements this week, you may have missed the incentives announced for home buyers. While most are not new, the government have increased the number of spaces available for eligible home buyers through their Home Guarantee Scheme.

FBT Hobart Bec and Dini

Do you need pre-approval?

We are often asked if you need pre-approval before looking for your dream home. Pre-approval is not essential but it is one way to ensure you don't miss out!