If you’re a first home buyer, you would know that the 1st of January brought about the end of the First Home Plus Scheme exemptions and concessions here in New South Wales. The good news for first home buyers is that it was replaced by the First Home – New Home Scheme.
For new homes valued up to half a million dollars, the new scheme means first home buyers will still be eligible for Stamp Duty exemptions. The same goes for vacant land valued up to $300,000 which also still allows the $7,000 First Home Owner Grant rebate.
So our advice for first home buyers is to get serious about your property plans. With so many changes happening within Government, it’s important to stay abreast of what rebates and concessions are available to you for the type of property and price bracket you’re looking to buy in so you can maximise your finances.