Many state and territory governments provide incentives such as granting stamp duty concessions to encourage investors and owner‐occupiers to build a new home and help combat the housing shortage and high rent environment. However, not every state or territory in Australia provides such incentives, so it’s important when making your investment decision that you consider carefully what incentives may be available.
An important note to make is that stamp duty is only payable on the land purchase amount regardless of whether it’s a house and land package or off‐the‐plan. The only time stamp duty would be payable on the entire land and building amount is if the home has been completed by the builder and then sold to you as a completed dwelling.
In summary, there are a multitude of grants and concessions available depending on the state in which you purchase and build. These grants and concessions are not automatic and as such there are forms that are required to be completed for each grant and concession. We can help you complete these forms, ensuring they are filled correctly and submitted in a timely fashion. This will ensure that grants applied for and accepted will not suffer delay in payment.
Contact us now to review your eligibility, the amount you are eligible for, and how much you could save on mortgage payments.
NOTE: We have lenders that allow these grants to be used towards the deposit of your home, contact us now for more information.