Together with these grants the government offers a transfer concession for first home buyers which, if eligible, may reduce transfer duty to Nil. Other incentives offered by the government to assist first time buyers include the First Home Loan Deposit Scheme and First Home Super Saver Scheme which were introduced to assist first home buyers in saving for a deposit.
WHERE DO YOU START?
Building a new house can be exciting, even life changing, but all the experts agree on one thing: careful planning beforehand is essential.
The first step involves some realistic calculations on the costs you will face in future years as well as the realities of the present. There’s also the “chicken-or-egg” question of whether it’s best to buy land first, then look for a suitable house design. I would highly recommend you choose the land first. This avoids any traps of selecting a design that doesn’t suit a plot of land.
THREE TIPS FOR BUILDING YOUR FIRST HOME
- When choosing the right community to live in, consider the local services you will need such as shopping, travel time, education and childcare, as well as things that can add to your quality of life like sporting, recreation and entertainment facilities.
- When choosing a block, make sure its size suits both your budget and the house design you have in mind. Also check for any height or setback restrictions and consider the energy savings that can be made by choosing the most appropriate solar orientation.
- Do as much research as you can to find a reputable builder you feel you can trust. Visit display villages (like Riverstone Rise) to see what designs are available, and if any friends or relatives have recently built a house, ask for their advice and recommendations.
Remember, the more you know, the better. So, keep asking questions and go into the entire process feeling confident with your decisions.
Our team at LOCATIONS estate agents have a great deal of experience in property sales and builds so if you are looking for local intel please don’t hesitate to get in touch. We would LOVE to help you find your happy place.