What are the stamp duty benefits for first home buyers?
When embarking on your home ownership journey, it can be difficult to keep track of the various government incentives and concessions on offer, and before you know it, you’re lost amongst all of the financial jargon and paperwork. Our local sales consultants have the knowledge and experience to help you understand your options and make the most of the benefits you’re eligible for.
What do these benefits actually mean for me?
When building a new home, you’re only paying stamp duty on the value of the land. So what do these potential savings (often thousands of dollars) mean for you? They could be the difference in you choosing to upgrade to an alfresco dining area, or to that coveted butler’s pantry, or perhaps those raised ceilings that you’ve been dreaming of now fall within your budget. These potential savings could have a very real impact on how your dreams come to life. Or, if you’re a First Home Buyer, these stamp duty benefits could present you with an opportunity to break the rental cycle and move into your first home sooner than you ever thought possible.
Key factors to consider
These concessions and benefits vary from state to state and the amount of stamp duty you pay may be further dependent on a number of factors, such as:
- If you’re purchasing an established property, a newly-built home or vacant land to build on.
- What type of property you’re purchasing - will it be your primary residence or an investment property?
- Whether or not you’re a First Home Buyer.
At Simonds, our local Sales Consultants have helped thousands of families navigate these ins and outs of the government incentives and kickstart their homeownership journey. Still unsure whether you will pay stamp duty on a property? We recommend having a chat with one of our friendly Sales Consultants to find the answer.
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