first buyers grant question!

[jacked]

Hello I have a question in relation to the first buyers grant. I understand that as of July 1st the grant will be removed for established homes, the grant will then consist of $10,000 when building. However my query lies on the new grants discounted stamp duty, will this apply to pre existing homes?

Cheers...

 

[Peter_Tersteeg]

Yes, it will apply to all first home buyer properties settling from 1/7/2013.

As a result of these changes there's a lot of activity in the market (my first home buyer workload has trippled from its usual levels in the last 2 months). There's a lot of first home buyers grabbing established properties right now which I expect will drop off in July. At that point the focus for first home buyers will likely move to purchasing new properties.

I expect the activiy in the sub-$600k range may actually reduce a little in July. From where I'm sitting it looks fairly hot in the first home buyer price range right now.

 

[ngoli1]

How about this situation? I'm buying a block of land, which will settle at the end of this year. I'm living overseas and intend to pay the block off over the next couple of years, then build on it so it's ready to move into when I move back to Australia.

In this situation (and, provided the grant still exists), would I still be eligible for the first homer buyer's grant?

 

[Peter_Tersteeg]

How about this situation? I'm buying a block of land, which will settle at the end of this year. I'm living overseas and intend to pay the block off over the next couple of years, then build on it so it's ready to move into when I move back to Australia.

In this situation (and, provided the grant still exists), would I still be eligible for the first homer buyer's grant?

The grant is based on the contract date, so yes, you should still get it as long as you meet the regular criteria such as it being your first home, etc.

 

[jacked]

Thanks for the feedback PT_Bear, I have noticed that first home buyers have been going crazy at the moment and was hoping after the end of the month it will die down, cheers for your input.