PHOTO: The grants and exemptions available to first-home buyers range from $25,000 to nearly $70,000. Photo: Leigh Henningham
First-home buyers in every state of Australia already had cash incentives to build or buy a new home but last week the stakes got considerably higher.
When the federal government revealed its $25,000 HomeBuilder grant in a bid to boost the economy, throwing a lifeline to the home construction industry, it wasn’t designed to be used in isolation.
That $25,000 can be accessed on top of any existing grants or exemptions and, while these differ state by state, these grants could be a game-changer, says Damien Ross, general sales manager at QM Properties.
“For some first-home buyers, this will be their only opportunity to get into the market. Saving this kind of money takes most people years,” he said.
On Sunday came the news that first-home buyers in Western Australia could receive $55,000 in government assistance if they build a new home, thanks to a bonus $20,000 that the state government is going to tip in on top of HomeBuilder.
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