In a win for first home buyers, the State Government has extended the First Home Owner’s Grant for another twelve months, until 30 June, 2021. The $20,000 regional grant had been due to halve at the end of June this year, but these extraordinary times have pushed that timeframe out.
To qualify you either need to build a new home or buy one. If you purchase, the home must be less than five years old. It can be a house, townhouse, apartment, unit or similar, but it must be valued at $750,000 or less and be the first sale of the property as a residential premises. More information as to criteria can be found on the State Revenue Office website.
Significant stamp duty reductions/exemptions are also available for first home buyers meeting purchase price criteria; interest rates are at a staggeringly low level and there are some great house and land packages on offer through various builders at present.
If 2020 is your year to build, we are Geelong’s premier land sales agency. From city to coastal, smart blocks or large family blocks, or blocks with views, our comprehensive list starts on page 66 and our land sales specialist is experienced and dedicated to assisting clients find the perfect block for their dream home.
Until next week,
Nick Lord (Director)