First home buyers for established homes need to act fast

By Janet Spencer

First home buyers

First home buyers for established homes need to act fast

First Home Buyers who what to receive the $7000 First Home Buyer grant from the Victorian Government need to act fast as it is being removed effective from 1st of July this year.  Announcements by the Victorian Government mean that first home buyers (FHB’s) for established homes have only a two month window of opportunity to secure their $7000 grant before it ends on 30 June.

There are only eight ‘buying Saturdays’ available before the deadline, so FHB couples inspecting and attending auctions on weekends will be lucky to secure their property in such a short time. With the assistance of a professional buyer, who can inspect, evaluate, and negotiate all week, securing the right property at the right price is possible but still rushed.

Using Buyer Solutions’ Assisted Property Buying Service to buy e.g. a $500K property before 30 June, the grant will more than cover your buyers agent fee. For those using our Comprehensive Property Buying Service in the same circumstances, the grant will cover most of the buying agent fee.

From 1 July 2013, there will be small FHB stamp duty reduction and the grant then applies only for newly built homes, at $10,000. Most first-time buyers purchase an established property so that in Queensland and N.S.W., introduction of new-only FHB grants has led to a huge contraction in first home buyer numbers.

If you want to buy established, and access the grant, you need to act fast.

At Buyer Solutions we are proud of our track record of buying homes for “first timers”.  It can be challenging, unknown territory entering the property market unsupported.  We often work for the children of past clients who know how a professional Buyers Agent can add value.

To find out how the grant changes may affect you contact Janet or Mike at Buyer Solutions on +61 3 9816855.

For up to date information on what’s happening in real estate in Melbourne, contact Janet at  jspencer@buyersolutions.com.au or 0418 101 146.

By Janet Spencer

Buying property, First home buyers, Home buying, Janet Spencer

Buyer Solutions, first home buyers, home buying, Janet Spencer, melbourne real estate