Before Sydney property prices start the inevitable upward trajectory again First Home Buyers will be looking to take advantage of the current grants and concessions available to them. Listed below are the benefits available at the time of writing this blog:
♥ Zero Stamp (Transfer) Duty payable for First Home Buyers buying a house or an apartment where the purchase price is $650,000.00 or below.
♥ Concessions on stamp duty are available where the purchase price exceeds $650,000.00 but must be under $800,000.00. NSW Revenue has a calculator that you can use to calculate the stamp duty savings available HERE
♥ $10,000.00 grant for First Home Buyers buying a new house or an apartment where the purchase price does not exceed $600,000.00
♥ If you are building a new home the total purchase price of the land and the home must not exceed $750,000.00
Learn more about this grant HERE
This may be the best opportunity for a very long time for First Home Buyers to get their foot in the door of the Sydney property market. These benefits are not just limited to Sydney but are available Statewide. If you have any questions about First Home Benefits or any other conveyancing questions, please feel free to get in touch with us.