When it comes to purchasing a new home at present, whether as an owner occupier or as an investor, the number of grants, stamp duty savings offers and first home buyer incentives can be a minefield to work through, so we have developed this article to assist.

Whether you review the first section of the grants and incentives on offer and how they apply to Everlea Townhouses Keysborough. or the second section which breaks it down by buyer type with example pricing and savings, we trust you will find this a useful tool.

 

SECTION 1: Grants and Incentives Explained for Everlea

 

The HomeBuilder Grant and how it applies to Everlea Townhouses

  • The HomeBuilder Grant is the Australian Government’s Economic Response to the Coronavirus.
  • HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant to build a new home.
  • Everlea is under construction so all our homes are eligible* and meet the HomeBuilder Program construction commencement date criteria.

At Everlea,

  • Two homes remaining are eligible for the *$25,000 HomeBuilder Grant if the contract is signed on or before the 31st December 2020 e.g.  just 21 days away
  • All Everlea homes are eligible for a *$15,000 HomeBuilder Grant if the contract is signed between 1st January and 31st March 2021

 

The First Home Owner Grant and how it applies to Everlea Townhouses

  • The existing $10,000 First Home Owner Grant applies to properties with a sales price < $750,000, for which at Everlea there are 2 x 3 bedroom townhouses remaining available
  • The HomeBuilder grant complements the existing First Home Owner Grant so if you purchase one of these 2 homes priced at $699,000 and you are a first home buyer, you may be eligible to receive:
    • $35,000 (HomeBuilder + First Home Owner) if you sign a contract before the 31st December 2020 or
    • $25,000 (HomeBuilder + First Home Owner) if you sign a contract between 1st January and 31st March 2021 (inclusive)

 

Victorian Government Stamp Duty Relief and how it applies to Everlea Townhouses

  • As all of Everlea’s townhouses are new homes and are priced below $1 million, so the Victorian Government’s *50% discount on Stamp Duty applies to all homes, whether you are an investor or owner occupier
  • This Stamp Duty relief varies based on the particular townhouse purchased and is available for contracts signed before 30th June 2021

 

 

SECTION 2 : Scenarios Explained based on Your Buyer Type

 

So what does all this mean if you are an investor, owner occupier or a first home buyer owner occupier?

As there are a number of variables which influence grant eligibility, stamp duty and thus the final price of a property, below are just some examples that illustrate what you may be able to save on your new Everlea Townhouse at this time. Of course, we always recommend you talk to your own financial adviser and/or mortgage broker/bank to discuss your particular circumstances.

 

For Investors

If you are looking to purchase an investment property, an Everlea Townhouse may be a good option.

We recommend you speak to your own financial adviser about the investment’s fit for your circumstances, with the example offer outlined below.

Type E Townhouse

3 bedroom, 2 bathroom

Study

2 car garage

Listed Price: $780,000

Stamp Duty: $41,870

Total Price: $821, 870

Less Total Savings (50% Stamp Duty): $20,935

Your Final Investment Property Price: $800,935

 

 

For Owner Occupiers – Primary Residence

If you are looking to purchase a new property to live in, an Everlea Townhouse may provide the lifestyle that suits you.

We have 2 properties that are eligible for a $25,000 Homebuilder Grant if you sign a contract before 31st December 2020 and all properties are eligible for a $15,000 Homebuilder Extension Grant if you sign a contract between 1st January and 31st March 2021.

We recommend you speak to your own financial adviser about the purchase, with the example offer outlined below.

Type E Townhouse

3 bedroom, 2 bathroom

Study

2 car garage

Listed Price: $780,000

Stamp Duty: $11,970

Total Price: $791,970

Less Total Savings (50% Stamp Duty, 15K Homebuilder Grant*): $20,985

Your New Home Property Price: $770,985

*Homebuilder Grant is subject to eligibility based on your annual income being <$125,000 or your household income, including your partner’s income being <$200,000

 

For Owner Occupiers – First Home Buyer Primary Residence 

If you are looking to purchase a new property to live in and are a First Home Buyer, we have 2 Everlea Townhouses available that also qualify for the $10,000 First Home Owners Grant.

We recommend you speak to your own financial adviser about the purchase and your eligibility, with the example offer outlined below.

Type B Townhouse

3 bedroom, 2.5 bathroom

Study Nook

2 car garage

Listed Price: $699,000

Stamp Duty: $10,350

Total Price: $709,350

Less Total Savings (100% Stamp Duty, 25K Homebuilder Grant*, 10K First Home Owner Grant**): $45,350

Your First Home Property Price: $664,000

OR

Less Total Savings (100% Stamp Duty, 15K Homebuilder Grant*, 10K First Home Owner Grant**): $35,350

Your First Home Property Price: $674,000

 

*Homebuilder Grant is subject to eligibility based on your annual income being <$125,000 or your household income, including your partner’s income being <$200,000

**First Home Owner Grant is subject to eligibility based on the property being your principal place of residence for 12 months, commencing within 12 months of settlement

 

If you are interested in maximising your opportunity with savings and grants when purchasing your Everlea Townhouse, please contact agent Julie Brooks today on team@everleatownhouses.com.au or call 0405 103 638.