Get A Helping Hand To Buy A Home

Finding a way to afford home ownership might seem like a lonely struggle at times, but it need not be so.

In fact, first home buyers may be eligible for assistance under one of several schemes specially designed just to help them.

That’s right! All over the country, governments are actively trying to make it easier to afford homeownership.

The reason is simple - when people can afford to buy homes, they aren’t the only ones to benefit - the entire economy gets a boost.

There are two main ways that state governments are offering help to those craving home ownership.

The first is through a scheme called the First Home Owner Grant. This is a grant paid to eligible first home buyers on settlement of purchase.

The value of the grant and eligibility criteria both vary from state to state, and there are different grants for those purchasing new homes and those buying established ones.

Secondly, you may qualify for a concession on stamp duty - a tax levied on transfers of land.

Again, this varies across different states, so be sure to check what discounts are available in yours!

To get more detailed information on your situation, talk to a Loan Market mortgage broker today.