It's an exciting time to be a first homebuyer. With new government incentives and initiatives specifically designed to support first homebuyers, spring buying season might be your time to shine.
Here are some of the incentives you might be able to benefit from:
First Home Loan Deposit Scheme expansion and increased price caps
From 1 July 2021, 10,000 additional places will be available under the FHLDS. The Federal government has also increased the maximum purchase price by an additional $150,000 in some states and territories. Click here to see the updated property price caps.
New Home Guarantee construction extension
The New Home Guarantee has been expanded with an additional 10,000 places available and will now have a construction commencement timeframe of 12 months.
Eligible first home buyers can use the New Home Guarantee in conjunction with other government programs like the First Home Super Saver Scheme, HomeBuilder grant or state and territory First Home Owner Grants and stamp duty concessions. Find out more here.
If you want to purchase a home this spring, it’s a good idea to get your finances in order early so you’re in a strong position to act quickly and stay ahead of the competition when you find your dream property.
I can help organise your finances for pre-approval and talk you through the government initiatives that you might be eligible for.
Get in touch today.