If you are interested in realty, you may often hear such words: The Australian government will cut stamp duty off; there will be cash rewards for first home buyers; the government will subsidise the purchase of new houses. However, among all these news (or even some fake ones), how can we utilise any of them? Don’t worry, after reading this article you will be an expert on these policies.
First and foremost, what are the recent realty policies in Australia? We have summarised it for you:
You may find it strange, isn’t the first HomeBuilder Grant only for new houses or renovations? Does house and land packages purchases also applied in this policy? The answer is: Yes, house and land packages owners have the opportunity to receive this government subsidy. Of course, there are conditions for obtaining these preferential policies. Its biggest limitation is that it needs to start construction after June 30, 2020, complete construction before October 31, 2022, and be able to exchange the contract before December 31, 2020. Therefore, currently there are not many uncompleted properties on the market that meet this requirement.
If you do believe you may get an offer, you can leave your contact information at the bottom of the article, and we will have a professional real estate sales agent to contact you.
If you are a first home owner, then these offers will provide you with great value, not only to save you money, but also to save you a lot of troubles. Let’s do the math. Under the condition that all the preferential policies can be used, how much is the down payment required to own a house.
Let’s take this Allegro apartment in Zetland as an example. It is one of the few uncompleted homes on the market that can apply for the HomeBuilder Package. Its price is $750,000, so 4% stamp duty is $30,000. Under normal circumstances, the down payment is 20% of the house price, plus 4% stamp duty, which is $180,000. After exempting stamp duty and receiving a government subsidy of $25,000 and a subsidy of $10,000 for first home buyers, the down payment price came to $115,000.
That’s it, after utilising the government’s subsidies and the favourable policy of exemption from stamp duty, the cost of $65,000 was saved. In other words, you only need a little more than $100,000 to own your first house in Zetland.
As mentioned above, there are not many real estates on the market that can meet this condition, so if you are interested in this apartment in Zetland, you can fill in your contact information below and we will get in touch with you.
HomeBuilder is available to individual applicants and couples who are or will be registered as the owner on the certificate of title. If you are the only person who is listed, or will be listed, on the certificate of title as owner of the property, you must apply as an individual applicant. If there is, or will be, more than one person listed on the certificate of title, they must jointly apply as a couple provided, they meet the definition of ‘couple’. Each applicant must be: