Changes to the NSW property tax system give first home buyers the choice between paying an annual property tax or stamp duty.
Buyers have been given a behind-the-scenes tour of the Signature Wollongong apartment building, which is still under construction.
Don’t rule out property investment until you’ve done the numbers. You’ve read the books, magazine articles and reports. And you’ve been religiously checking real estate websites for properties. But when push comes to shove, you never follow through. Don’t worry, you’re not alone. In fact, despite real estate being a national pastime, only 8.4% of Australians, or roughly 2.1 million people, owned an investment property, according to the Australian Tax Office.
Like any major investment, buying real estate off-the-plan can be high risk if insufficient research has taken place. But there are also perks to buying property that has yet to be built.
New data shows that Millennials are digging deep to save for a home, even prioritising home savings over holiday and travel savings.
The FHSS is a scheme introduced in the 2017-18 federal budget which allows FHBs to make voluntary contributions to their superannuation to save for a home. Applications to release contributions will start July 1 2018.
One of the best ways to get financial assistance with a first-time purchase is using government grants. But depending on where you buy, you’re going to face very different requirements and receive very different amounts.