If you’ve never owned property in Australia, it’s time to take advantage of the government’s generous $20,000 First Home Buyers Grant. The availability of the grant, which has been boosted by $5,000 until 1 July 2017, means you could be in your own home sooner.
TO BE ELIGIBLE FOR THE FIRST HOME BUYERS GRANT:
- At least one applicant must be an Australian citizen or permanent resident.
- All applicants must live in the house for a minimum of 6 months.
- You or your spouse must not have previously owned property in Australia.
- You must be at least 18 years of age. For a house and land package, there is no stamp duty payable if the land is valued at less than $250,000. If there is no stamp duty to pay, all you need is the deposit, which in most cases can be 10% or less. So, if you were to buy a house and land package for an all – encompassing price of $450,000, you would need a deposit of $45,000. If you deduct the $20,000 First Home Buyers’ Grant from that, all you would need is $25,000 to get out of the rental market.
Given interest rates are at an all-time low, some mortgage repayments will be cheaper than paying rent.
With the Sunshine Coast still in its growth phase, now is the time to buy land and build before first home buyers are priced out of the market, and while the full $20,000 first home buyers grant is still on offer.
Vizion Group Qld have a number of lending professionals that can talk you through your options and answer any questions you may have about the First Home Buyers Grant Initiative.
This is a free, no obligation service and all advisers are MFAA accredited.
Vizion Group Qld is a highly respected local Sunshine Coast development company, offering first home buyers a quality, attractive, affordable home in a highly desirable location close to local amenities. We provide you with one point of contact throughout the entire process, including regular updates showing progress. We can highly recommend our professional contacts because we use them ourselves. Buying your first home doesn’t have to be a stressful experience. Contact us today to discuss your needs.