Do you know someone looking to buy their first home?
If so, this information could be invaluable! Many potential home buyers might be delaying their purchase due to a lack of awareness of available incentives.
What you need to know:
The Australian Government recently announced a new funding round for the First Home Buyer Guarantee (FHBG), offering 35,000 eligible Australians the chance to buy a property with just a 5% deposit between 1 July 2024 and 30 June 2025. Find out if you’re eligible here.
Furthermore, several federal and state governments have updated their first-home buyer incentives and grants making it easier for first-home buyers to get on the property ladder.
Here’s a list of government schemes and incentives currently available to first-home buyers:
National initiatives:
- First Home Guarantee
- First Home Super Saver Scheme
- Family Home Guarantee
- Regional First Home Buyer Support Scheme
- Help to Buy Scheme
State-specific grants and schemes:
- The First Home Owner Grant (FHOG) – varies by state
- One-off transfer duty (stamp duty) concessions
As you can see, there are many incentives, but navigating them can be daunting. Fortunately, our first-home buyer experts here at Nectar have created a comprehensive guide on the latest government offerings and a state-by-state breakdown of what’s available. Check it out here .
If you have any questions, please feel free to reach out. I’ll guide you through the available options and help determine your eligibility. Together, we’ll create a strategy tailored to your unique circumstances, turning your dream of homeownership into a reality.
Published 7th August 2024