Where to invest in property in Melbourne
Partnering with First Home Owners to secure their first property; offering our market knowledge, skills and support to secure your first home, townhouse, villa or apartment. Saving you Thousands of Dollars
The First Home Owners Grant is a state government initiative to help first home owners to get their first home sooner by providing a First Home Concession in the form of stamp duty savings and a rebate
Buying your first property comes with it’s own stresses especially on the back of rising house prices making getting your foot onto the property ladder all that much more difficult for you. The Vic government initiated the FHOG to make this leap of faith easier for you
If you have not purchased a property (investment or owner occupier) previously you will quality no matter what income level you are on and depending on the date of your contract you will get $20,000 towards buying or building your new house, unit or townhouse so long as the value of the property you are buying is less than $750,000 and in Regional Vic (see Regional Vic here) and a $10,000 savings closer into Melbourne
NB : If your contract to purchase or build is signed between 1 July 2017 and 30 June 2020 you may be eligible to apply for the $10,000 or $20,000 grant
To be eligible :
You must be an Australian citizen or permanent resident (or applying with someone who is)
You must be buying or building a brand new home
The property must be valued under $750,000
You or your spouse must not have previously owned property in Australia
You must be at least 18 years of age
This means you can buy off the plan or a house and land package giving you a great opportunity to buy or build something brand new for yourself. At a later time if you choose to rent out the property as an investment property a new dwelling will always attract higher rent over an old dwelling plus have lower ongoing running costs thus making your investment that much more efficient in your pocket
The Grant might even allow you to step up into a more valuable property than you would otherwise might have elected to buy (without the grant) thus giving you a higher step up on the property ladder | or allow you to get into the market today based on the owner grant provided
A 50% Stamp Duty Concession for First Home Buyers who Qualify increased on new or established dwellings valued at no more than $600,000
On meeting certain eligibility requirements, the duty you would otherwise be required to pay (stamp duty) may be reduced to the point where you do not have to pay anything to State Government … in other words full stamp duty savings to you saving you Thousands of Dollars
This could be as much as almost $13,000 dollars on a property purchased for $550,000 !
Read more here
Buying property is daunting and stressful and you would want to get your first purchase right!
But where do you begin and who should you be listening to?
A lot of first home buyers will live in this property for a while and then consider using it as an investment when they move onto their next property in building their Investment Property Portfolio
If this is you, then you would agree that you would want to get this first purchase RIGHT to ensure you are very well positioned financially as best as possible to be able to secure your next and your next property
Getting it wrong can be disastrous and set you back financially for years to come !
This is not fear mongering; it is reality
Remove all emotion when looking for your first dwelling, plan your purchase to give you the financial exit strategy for the day you want your next property
All to often we see buyers buying with their heart “Oh it is such a lovely property” and later on when they want to sell or rent it out they struggle to get their ‘expected’ dollars!
By working with a professional group such as ours we will educate and inform you so that you enter into the contract based on vital criteria thus giving you a far better potential beneficial outcome the day you want to move on from your first purchase
We do not believe that you are buying the property; we subscribe to the fact that it is an investment into your future … and you would want to get it right at the outset
Being a new property there is a significant amount of choice in the Queensland market you will have noticed. So where do you begin and who do you choose to listen to and believe?
If you go directly to a developer they will tell you exactly what you want to hear and thus cloud your judgement. If you chase after builders incentives and discounts being offered once again you are clouding your judgement
Too much choice? | where do I start? | who should i listen to? | what is value for money? | what should I buy as my first home? | where should I buy? | what if I want to turn this purchase into an investment property? | should I grab developers ridiculous offers just to sell their property? | which property makes for a better long term investment for me?
So who do you listen to and how can you best access your first property which will suit your requirements today and when you one day want to rent out or sell?
At all times properT network work with you in helping you come to your own informed decision. We will :
Comments or questions are welcome.
FHOG Queensland hereTags: fhog, FHOG Melbourne, FHOG Regional Victoria, FHOG Vic, FHOG VIctoria, first home owners grant, First Home Owners Grant Melbourne, First Home Owners Grant Regional Victoira, First Home Owners Grant Victoira