STAMP DUTY AXED FOR FIRST HOME BUYERS
The gifts just keep rolling in for first home buyers in Sydney! In June, it was the introduction of the $25,000 HomeBuilder grant, incentivising Australians to build a new home in 2020. This created an unprecedented opportunity for first home buyers in particular, who already had access to a range of existing incentives to build their first home in Sydney. In July, it was the second round of the First Home Buyer’s Deposit Scheme grants, in which the Australian Government is topping up the savings of first-time purchasers and helping them reach the 20 per cent deposit threshold. Now, the NSW Government has axed stamp duty for first home buyers on any new house-and-land packages under $800,000, and any land-only purchases under $400,000. This opportunity, which is valid for the next 12 months, creates another chance for first-time home purchasers to save up to tens of thousands of dollars by building new, instead of buying an existing home. On top of that, house-and-land purchases over $800,000 and under $1 million will see stamp duty reduced. For land-only, reduced stamp duty is available on purchases between $400,000 and $500,000. This all adds up to an unheard-of chance to build your first home in Sydney, for much less than it would cost to purchase an existing property. Rawson Communities has land-only and house-and-land packages in Austral, Leppington and Marsden Park that are HomeBuilder-ready, and fall below the new stamp duty thresholds. Talk to us now about how you can secure one of these for yourself.