Potential First Home Owners …

Now is the best time to consider building a new home. The Government is offering several incentives to assist new home purchasers. The First Home Owners Grant, the First Home Super Saver Scheme, the First Home Loan Deposit Scheme and Stamp Duty Concessions are terrific incentives to help you achieve your new home goal.

The First Home Owners Grant

A scheme introduced in 2000 originally to offset the imposition of the Goods and Services Tax (GST). A one off payment that has continued to this day. Although the amount has varied over the years it currently stands as $15,000. Importantly, eligibility is not based on your income.

The First Home Super Saver Scheme

This scheme is centered upon the ability to utilize the voluntary contributions you have made to your Superannuation Fund and is run by the Australian Taxation Office (ATO). To be fair, most people below the age of forty do not have a substantial pot of contributions, however, by utilizing what you have contributed, you are converting one asset – your Super Fund – into another asset – property, which potentially has the ability to grow in value faster than the funds you contributed to the fund.

The First Home Loan Deposit Scheme

The National Housing Finance and Investment Corporation (NHFIC) will provide a guarantee for eligible first home buyers on low and middle incomes so they can purchase a home with a deposit as low as 5%. This will allow you to avoid paying Lenders Mortgage Insurance, which is generally applicable to home loans where the deposit is less than 20%.
This scheme has a number of criteria and has ceiling limits for both income and property.
Basically they are …
You must be over 18, an Australian citizen, and it must be your first home, with no previous or current share in any other property.
Singles have an income ceiling of $125,000 p.a. and couples a maximum combined income of $200,000 p.a..
Couples must be married or in a de-facto relationship.
Other combination of relationships – siblings, parent/child or friends are not eligible.
The Scheme only applies to owner occupied home loans.
Applicants must have a deposit of between 5% and 20% of the subject property value.
The maximum property purchase price for the Sunshine Coast is $475,000.

Stamp Duty Concessions

If you are buying a House and Land package, first home buyers in Queensland are given a concession by the State Government on their land purchase and no stamp duty is payable. There is no stamp duty applicable to the house portion of your purchase.

Interested ???? … what to do next …

If you think you are eligible for any of the previously mentioned schemes and want to pursue your goal of getting out of the rent cycle and owning your own home then call 0412 773459 and we’ll get you on the right track with the right Scheme, Land, House Designs, economical Pricing and Finance assistance.

Its up to you, so act now!