The new NSW Government implements an updated First Home Buyers Assistance Scheme, that came into effect on the 1st July 2023, moving the threshold for stamp duty exemptions from $650,000 up to $800,000, and the threshold for stamp duty concessions from $800,000 to $1 Million. This change to stamp duty will allow thousands for First […]
The NSW Government has passed legislation making the changes to provide First Home Buyers with the choice of either paying a lump sum transfer (Stamp Duty) or an annual property tax on purchasing a property up to $1.5 million. The initiative lowers the up-front costs associated with purchasing a home and is intended to boost […]
The NSW Government is launching a shared equity scheme for eligible participants, paying a proportion of the property purchase price in exchange for equivalent ownership share of the property. No repayments will be required on the equity contribution, no rent, no interest charged whilst remaining eligible for the scheme. Voluntary reparents can be made to […]
The Government announced to do more to help ease entry barriers, putting home ownership in reach for more Australian’s. Key Points: The Government will be expanding the Home Guarantee Scheme for eligible home buyers to 50,000 places per year; New Home Guarantee will run for a second year, enabling first home purchasers to build a […]
Few key factors to consider…… Purchase price and affordability is a major factor when buying an investment property. Know whether your investment property will accumulate neutral or positive cashflow. Less income spent potentially allows for the property portfolio to build and grow faster. Location…..whether purchasing your investment property city base or regional, consider an area […]
Despite lockdowns, property market activities and prices continue to climb. Property listed are seeing record views with buyers moving fast in order to be successful. Buyer demand for property remains strong and is continuing to push prices higher. Investors are responsible for the growing demand, with First Home Buyers winding back.
The slightest variance in interest rates can make a difference, in thousands of dollars over the life of a home loan. Compare mortgage rates and keep tabs on whether interest rates are trending up or down. With competitive rates and affordable payment terms looking for the best interest rates may save you money.
Reminder that as from the 1st August 2021, thresholds will revert to the previous parameters: New Homes valued less than $650,000, full exemption from transfer duty applies New Homes valued between $650,000 and $800,000, concessional rate of duty applies Vacant Land valued less than $350,000 full exemption from transfer duty Vacant Land valued between $350,000 […]
Proposed changes to Stamp Duty, may provide freedom to choose paying Stamp Duty upfront or paying a smaller annual property tax. Removing the upfront Stamp Duty cost, removes thousands of dollars from the home purchase process making home ownership more achievable. This proposed change is only if purchasing. There is no change if you have […]