PROPERTY & YOU – BY PAUL MCKENZIE, ABS CONVEYANCING
As Sydney’s residential property prices are getting more expensive, young people are finding it harder to save that the first home property deposit, to afford their dream.
Becoming the trend now, parents helping their kids out, young people, financially and other ways, to help them save for that deposit. Also, with other assistance along the first home buying journey, such as stamp duty and legals.
A first home savings plan, between the young person and their parents, is a great way to achieve that dream and housing affordability. Such planning and achieving that first home purchase goal, is further assisted by choosing the right mortgage broker. They can guide you, in the right direction, as well as shop around for the right home loan, to turn the first home dream, into reality.
Speak to us at ABS Conveyancing, to refer you to the right mortgage brokers.
As of July 2023, the stamp duty concessions for first home buyers, full exemption of stamp duty up to $800,000.00. A partial exemption from $800,000.00 to $1,000,000.00.
First home buyers must live in the property, during the first 12 months, after settlement, before allowed to rent out. Subject to change if any change to NSW government policy.
