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 First Home Owners Grant
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.
- Stamp Duty Discount
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!
- First Home Loan Deposit Scheme (FHLDS)
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.
Contact us today to see how we can help you!