A major grant increase for home buyers.
Perth, WA (PRWEB) September 02, 2013
Western Australia has followed the example of other states by encouraging first home buyers to build new homes. With the new government grant increase, home ownership is even more affordable. Aveling Homes explains how to qualify for this grant and make the most out of building a new home.
WA Treasurer Troy Buswell announced in the state budget early this month that starting September 15, first home buyers who build new homes will be eligible for a $10,000 First Home Owner Grant (FHOG), $3,000 more than the existing amount of $7,000. Those first home buyers purchasing an already built home will receive $3,000, a decrease from the previous amount of $7,000.
How to Qualify for the First Home Owner Grant:
● Be an Australian citizen or permanent resident
● Have never owned residential property in any State or Territory of Australia
● Have never received a First Home Owners Grant from any State or Territory of Australia
● Be 18 years of age or older
● Occupy the home as principal place of residence for a continuous period of at least 6 months within 12 months of the completion of the FHOG transaction.
Since the new grant amounts take effect starting from September 15th, home buyers wishing to take advantage of the grant increase should withhold purchasing until after the effective date.
Stamp Duty Savings
In addition to the FHOG, Stamp Duty savings are another financial benefit offered to new home builders.The government offers generous concessions on stamp duty when land is purchased. First home buyers who buy land up to the value of $300,000, can be exempt from paying stamp duty, saving up to $9,000.
Finding an Experienced Builder
Building a new home is an investment of both money and time as the home is constructed. Make sure the investment doesn’t go to waste by working only with experienced and reputable builders.
Check that the builder offers a structural guarantee. These are the best companies to hire as they are the most committed to providing quality construction.
Current interest rates are at an all-time low after being cut to 2.5% by the RBA on August 7th. These low interest rates mean reduced borrowing costs for current new home buyers.
For first home buyers who have a steady income but are finding it difficult to save the deposit for their home loan, contacting their builder’s finance team or a reputable mortgage broker can reveal options such as low-deposit home loans, guarantor home loans, or even no-deposit home loans.
About Aveling Homes
Aveling Homes is an award winning home builder based in Perth dedicated to providing exceptional service. Find out more about our display homes and our house and land packages by contacting one of our representatives today.
Visit the Aveling Homes website at http://www.avelinghomes.com.au/ for more details about our services and available financing options for first time home buyers.
Aveling Homes Contact Information
24/7 Metro Sales: (08) 6144 1000
24/7 Sth West Sales: (08) 97795 3444
South West: southwest(at)avelinghomes(dot)com(dot)au