Thinking about how quickly this year is going by, I think it’s time we start making the best of 2020. The housing prices are still the lowest we have seen in a while… Either way, it’s always a great time to be getting yourself out there, gathering information and preparing to finally be in your own home.
Buying your first home requires a lot of energy! Let’s take out the hassle of searching through the SRO, here is a reference of any government grants you may be able to take advantage of;
- If you are purchasing or building a new home (less than 5 years old) you may be eligible for the $10,000 (or $20,000 in regional Victoria) first home buyers grant
- If you are purchasing a property for $600,000 or less you may be eligible to receive the first home buyer stamp duty exemption,
- If you are purchasing a property for $600,001 to $750,000 you may be eligible to receive the first home buyer stamp duty concession.
- If you have a pension or concession card
- If you are an eligible pensioner, you may be entitled to a once-only exemption from duty when you buy a home valued at $330,000 or less, or concession from duty when you buy a home valued from $330,001 to $750,000. – for eligible cards – https://www.sro.vic.gov.au/concessioncards
- If you have been making additional contributions to your superannuation you can apply to use these towards our home deposit, additional information on this one can be found here – https://www.ato.gov.au/individuals/super/withdrawing-and-using-your-super/first-home-super-saver-scheme/
- There is now a First Home Builders Scheme until the 31st of December 2020, we have all the details here – https://cloverfinancial.com.au/what-do-we-know-about-homebuilder-so-far/?fbclid=IwAR3X_TWNp_gtTWYDN9C2AyAWFGFGkyqY853EzYtrLtD6hITGBm2Kk2Pm3-M
For some information outside of Victoria, I have found a handy little reference article – https://au.finance.yahoo.com/news/what-first-home-buyers-can-claim-in-each-state-231654864.html
If you have any questions, get in touch… It’s better to ask the question than to miss out!