Buying your first home doesn’t have to be a stressful or overwhelming experience. Byfields Finance Solutions can help you understand and be comfortable, so you can enjoy this special step in your life.
You can even start with as little as a 2% deposit.
Let us guide you as to the best options for you from a wide variety of lenders. We will even help you confirm your eligibility and the paperwork required for the First Home Owners Grant, to make sure you get all the benefits and concessions you are entitled to.
Contact Byfields Finance Solutions to discuss your specific situation in more detail.
Please find below some basic information that might be sufficient to satisfy your immediate questions.
WHAT ARE THE BENEFITS OF THE FIRST HOME OWNERS GRANT?
- $10,000 grant, for buyers who are building a new home. This includes completed homes from builders that have never been lived in.
- Note. Grants are no longer available for buyers buying an established property. However you may still be eligible for Stamp Duty exceptions as outlined below.
- Stamp Duty exemptions are also available depending on the property:
- Established home less than $430,000 = Nil Stamp Duty (save $14,430)
- Vacant land less than $300,000 = Nil Stamp Duty (save $8,835)
- Tiered discounts are available above these amounts as well.
AM I ELIGIBLE FOR THE FIRST HOME OWNERS GRANT?
- Are you an individual who is over 18 years of age
- You (and your spouse) have never owned property before in Australia
- Are you an Australian citizen or permanent resident
- Do you plan on living in this house for at least 6 months, in the first year of purchasing
If you meet the above criteria, there is a good chance you qualify.
Contact Byfields Finance Solutions to find out more and discuss your specific situation.