First home buyers, this one’s for you!

Thursday 07 May, 2020

Is now the right time to buy your first home? We think so! There are many government incentives for first home buyers at the moment, so we decided to put them all in one place so it’s clear for you. Read on to get all the facts about living the Australian dream and starting your property portfolio!

The $20,000 First Home Owners Grant, for new or newly built homes, has been extended until June 2022. That means if you’re wishing to build or purchase a brand new home, the Government will help you out with an additional $20,000 on top of your savings.

If you’re purchasing an already established home (that does not exceed $400,000 in value), the government will apply a 50% discount on your stamp duty. This incentive has also been extended to 30 June 2022, and in some cases can save you more than $6,000… perfect for getting started on those home renovations!

The FHLDS was announced in January 2020 and allows first home buyers to buy into the property market with a deposit as little as 5%. The government limited the scheme to 10,000 successful applications only. With over 5,000 positions already filled, it’s important to start having these conversations now!

Some more good news? The FHLDS is able to be used in conjunction with other government schemes, making the process even easier.

With all incentives and schemes, there are terms and conditions. But, working alongside our experienced brokers, we will ensure you are equipped with all the right tools to help you navigate through the T’s & C’s, and make sure we’re getting you the best deal for your new home.

Get in touch to see how we can help you!

You might also like...

Finance Brokers Tasmania Hobart Team 10

The loan process equation (or, how much can I borrow?)

When applying for a loan, you’ll hear terms such as “borrowing power”, “borrowing capacity”, and “assessment rate”. But how do they relate? What do they mean? We’ll break it down for you in a simple equation.

Finance Brokers Tasmania Loan calculators

Loan calculators

During your research into your financial situation, you may have clicked on our calculator section – and been overwhelmed with the number of different types available! What do they all mean and what are they used for?!

Fbt government building grants

Government building grants – an October 2021 update

Homebuyers, builders, and renovators take note! You may be eligible for a government incentive to help you with your dream home.

Fbt secured vs unsecured loans

Secured vs. unsecured loans for small businesses

If you’re one of the 37,000 small businesses in Tasmania, you may be looking at obtaining finance to grow your business.