An off the plan purchase is a purchase of a dwelling (house, apartment or townhouse) or land prior to its construction or subdivision. Purchasing off-the-plan can sometimes enable you to enter the property market at a lower price (albeit not always the case). This is possible as developers offer lower prices and financial incentives (such as rebates) in order to secure enough pre-sales to start the project. Thus, providing a great opportunity for both investors and home buyers. Whilst there […]
Government incentives and stamp duty savings for first time home buyers
As the Victorian Government moves to cut stamp duty for first home buyers, find out what it means for you. 1 July is here, and it brings good news for first home buyers across Victoria: stamp duty will be completely abolished for properties valued under $600,000. For properties valued between $600,000 and $750,000, first home buyers will receive a variable concession (applied on a sliding scale). There is currently no stamp duty concession for first home buyers on properties valued […]
UPDATE –> Stamp Duty Concession Update 1 July 2013 Summary From 1 July 2013 First home buyers will receive $10,000 if they purchase a new home (off the plan, land and building, etc). First home buyers will be entitled to a 40% reduction on stamp duty (subject to eligibility – see below).