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Government initiatives First Home Owners - 2022

By madhu on May 26, 2022
First home buyers in NSW can currently receive $15,000. From 1 January 2016 this will be reduced to $10,000.
Handing Over the House Keys in Front of a Beautiful New Home.

First home buyers in NSW can currently receive $10,000.

First Home Buyer Assistance Scheme: 1 July 2017 – 31 July 2020 and continuing from 1 August 2021

New homesExisting homesVacant land
Buy a new home valued at less than $650,000, apply for a full exemption, and pay no transfer duty.Buy a new home valued between $650,000 and $800,000, and apply for a concessional transfer duty rate. The amount will be based on the value of your home.Buy an existing home valued at less than $650,000, apply for a full exemption and pay no transfer duty.Buy an existing home valued between $650,000 and $800,000, apply for a concessional transfer duty rate. The amount will be based on the value of   your home.You won’t pay transfer duty if your land is valued at less than $350,000.For land valued between   $350,000 and $450,000, you’ll receive a concessional rate.

For further information or just some innovative financial advice please don't hesitate to contact Finance and Mortgage Solutions today on 0425341086 or visit our contact page.

Article written by madhu

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