Changes to the NSW property tax system give first home buyers the choice between paying an annual property tax or stamp duty.
Changes to the NSW property tax system give first home buyers the choice between paying an annual property tax or stamp duty.
Premier Gladys Berejiklian has announced that the NSW state government will temporarily axe stamp duty on newly built homes valued at under $800,000 from 1 August.
Our agents have been flooded with calls about the government's HomeBuilder grant after it was announced last week but did you know this also applies to off-the-plan apartment purchases? The government revealed last week it would give Aussies that build a new home or renovate their own a $25,000 handout as part of its $688 million HomeBuilder scheme.
With first-home hopefuls set to face rising prices already in the housing market this year, the First Home Loan Deposit Scheme will offer help to a select number of buyers who may not have the backing of wealthy parents. The scheme will allow 10,000 first-home buyers to purchase their first home each financial year with as little as a 5 per cent deposit, without incurring lenders mortgage insurance.
If you were to purchase a home today, you’d most likely need to have 20% of the property’s value saved as a deposit to secure a home loan. From January 1, 2020, things may get a little easier if you’re one of 10,000 borrowers eligible for the First Home Loan Deposit Scheme.