Don’t wait too long to purchase one of your greatest investments! You could be watching the latest movie in your theatre room and cooking like a masterchef in your own kitchen by using your money and our knowledge wisely.

First home buyers who decide to purchase their first new home off-the-plan, or a house and land package or a spec home are often juggling finances to attain the dream. In this situation the government may assist you with the ‘First Home Owner Grant (FHOG)’ of $10,000. That’s not all… they will also give you a 50% discount on your stamp duty that could save you a further $10,000.

A glimpse of how to make it work for you and take advantage of opportunities

Let’s say you have saved $25,000 and you are looking at purchasing a property for $400,000; here are two scenarios:

Buy an established home (scenario 1) Buy and build (scenario 2)
$25,000 savings $25,000 savings
$10,000 First home owner grant
$400,000 property price $200,000 Land price
$200,000 Build price
$20,000 5% deposit $20,000 5% deposit
$10,000 approx. stamp duty $3,800 approx. stamp duty
$12,500 approx. Lenders mortgage insurance $9,700 approx. Lenders mortgage insurance

As you can see from the chart above the first scenario will cost you more and have your dream home out of reach. However, scenario 2 sees you moving into your new home choosing throw cushions with the savings.

Please contact us so we can discuss your needs and how we can work together in making your housing dreams come true. (03) 5976 8426