All the statistics are showing that this new financial year has kicked off with a buyers market, which means it’s time to prepare your home-buying strategy.
It always pays to start by exploring all the potential government grants and home-buying assistance schemes which may put tens of thousands of unexpected dollars into your budget. Be sure to check these out and see if you’re eligible:
The Australian Government’s 5% Deposit Scheme helps single parents and first home buyers purchase a home with just 2 percent or 5 percent deposit without the need for costly Lenders Mortgage Insurance (LMI).
The ATO’s First Home Super Saver Scheme allows voluntary contributions of up to $15,000 p.a. into your superannuation fund which lets you take advantage of lower tax rates, then withdraw up to $50,000 of those savings when you are ready to purchase a property.
The federal Help to Buy Scheme helps to bridge the gap between your savings and the amount you can borrow through an equity share program with the Australian government.
The Victorian government has a range of programs designed to support eligible first home buyers with a $10,000 home owner grant and stamp duty exemptions and concessions for first home buyers, young farmers and eligible pensioners.
Once you’ve checked your eligibility for financial assistance from government home buying assistance schemes, it’s time to plan your home buying strategy.
When you start by signing up for a home buyer strategy session with us, the rest is so much easier. From setting up your team to organising your finances and clarifying exactly what type of property you need, designing a home buying plan helps you eliminate time-wasting searches, potentially costly mistakes, and the inevitable spanners-in-the-works that happen when you step blindly into the home-buying process totally unprepared.
With everything organised and a professional team behind you, you’re ready to buy your new home this financial year!
Chat to us about how a property advocate can help you sell or buy in the current market with confidence. Investment buyers can receive invaluable support and guidance through our Buyers Advocacy Service, and for landlords who are selling, our Vendor Advocacy Service helps vendors achieve outstanding results.
To book a free 20-minute consultation, simply click here and choose a time convenient to you.
By Wendy Chamberlain
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