Have you ever been thinking to purchase the investment property? And how do you feel like about it? Easy or Hard? It could be easy as long as you pay attention to the critical things and factors before you make the decision. There are six things you may need to weight up before you get into the market.
Source: Realestate.com.au/news
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IF you’re a first homebuyer in Queensland, this is the lay of the land in the wake of the federal budget. You now have more incentive to get a foot on the property ladder, but put these dates in your calendar to take full advantage of the savings measures.
From July 1, you can start saving for a home deposit by salary sacrificing into your super fund. Withdrawals will be taxed at a lower rate, but the amount you can contribute is capped at $15,000 a year and $30,000 all up. Both members of a couple can take advantage of the scheme. The Government says this will help first home buyers to save a house deposit 30 per cent faster. But while one measure is being introduced, part of another will be taken away. From midnight on June 30, the Queensland government’s $5000 increase to the first home buyers grant expires, so you only have about seven weeks to build or buy a new home in the state before it reverts back to the original $15,000. The First Home Buyers Stamp Duty Rebate — up to $8,750 — still applies for all first home buyers who are buying an existing home or building a new home in Queensland, when the value of the property is less than $550,000. Another measure in the budget that could free up more family homes and ease house prices is enabling downsizers over the age of 65 to make a non-concessional contribution of up to $300,000 into their super fund from the proceeds of the sale of the family home. QUEENSLAND FIRST HOME BUYERS — WHAT YOU NEED TO KNOW *June 30 — Queensland First Home Buyers Grant increase expires, dropping from $20,000 to $15,000 *July 1 — The First Home Super Saver Scheme kicks in, allowing first home buyers to funnel up to $30,000 into their super account at a lower tax rate *The First Home Buyers Stamp Duty Rebate still applies for buying an existing home or building a new home when the value of the property is less than $550,000 Source: RealEstateNews As you may knew that The Queensland First Home Owners’ Grant has been boosted to $20,000, but only until 30 June 2017. The Queensland First Home Owners’ Grant is a state government initiative to help first home owners to get their new first home sooner. Depending on the date of your contract, you’ll get $15,000 or $20,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000). You can even buy off the plan or choose to build yourself. It’s a great opportunity to buy or build a new home in our great state.
Your Eligibility –
Source: Queensland Government First Home Owners’ Grant |
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