All State Government Changes Impacting First Home Buyers From 1st July 2018
As the end of the 2018 financial year is already here, it is a good idea for first home buyers to refresh themselves with what your State Government is offering in terms of grants, exemptions & concessions. Whilst only a handful of State Governments have made changes, we have summarised each state’s current (effective 1 July 2018) First Home Owner Grant (FHOG) and stamp duty assistance measures for aspiring first home buyers – if you need any further clarification, be sure to book your free FHBA Discovery Session with a first home buyer expert, who can guide or provide advice on a range of first home buyer questions:
NEW SOUTH WALES (NSW)
FHOGRemains at $10,000 for builders of new homes up to $750,000 and purchasers of new homes up to $600,000
STAMP DUTY EXEMPTIONNo stamp duty for eligible first home buyers who purchase a new or existing dwelling under $650,000
STAMP DUTY CONCESSIONDiscounted stamp duty for eligible first home buyers who purchase a new or existing dwelling between the value of $650,000 and $800,000
Could there be any other first home buyer incentives I am eligible for?
Stay tuned for a new announcement from FHBA in relation to an assistance program providing even more assistance for first home buyers looking to buy brand new homes. We are excited to share this with you over the next few weeks!
First home buyers should also be aware that some governments offer other first home buyer assistance programs and incentives, such as shared equity schemes. Your FHBA Coach will be able to go through what you may be eligible for in your area in your FHBA Discovery Session.