Call: 02 6583 8606

Call: 02 6583 7499

Welcome to Percival Property

New Home Buyers

Buying your first home is one of the largest financial commitments and decisions you can make.

It is, however, a time of great excitement and one Percival Property would hope you can enjoy.

Choosing the right home, the right area and organising the right finance option can be a daunting proposition but armed with the right information, you can negotiate the path to property ownership smoothly.


First Home Buyer's Grants

To help first home buyers enter the property market, various grants, concessions and benefit schemes are available.

You can research the available options on the Office of State Revenue website, but in brief you may be eligible for;

First Home Owner Grant (New Homes)

This scheme was established to assist first home owners buy or build a new home. A $15,000 grant applies to eligible transactions where the commencement date fell on or after 1 October, 2012. The FHOG (New Homes) will reduce to $10,000 on 1 January, 2016.  

Go here to check eligibility requirements and how to apply, or download the fact sheet.

First Home - New Home Scheme

The First Home—New Home is for new homes or vacant land on which the purchaser intends building their first home only. The exemptions or concessions do not apply to the purchase of an existing dwelling.

Eligible purchasers are provided with exemptions on transfer duty on new homes valued up to $550,000 and concessions on transfer duty for new homes valued between $550,000 and $650,000.
Purchasers buying a vacant block of residential land to build their home on will pay no duty on vacant land valued up to $350,000 and will receive a concession on duty for vacant land valued between $350,000 and $450,000.

To read frequently asked questions or download an application form click here.  You can also download the fact sheet.

Finance

You can use this handy online budget planner to review your household budget. It will help you work out how much you can afford to borrow and calculate what you can comfortably afford to repay on a home loan each month (include a buffer in case of interest rate rises). Remember to include all the costs that come with home ownership - stamp duty (if required) and legal fees, ongoing costs like land and water rates, house and contents insurance and maintenance. Don't forget to factor in moving expenses and utility connections at the new property.

Seek advice from lending institutions and mortgage brokers on the deposit amount required and how to apply for pre-approval. Ask questions about the process involved in getting a home loan and the fees and charges that will apply.


The Buying Process

Read our guide to the steps involved in researching Port Macquarie real estate and the buying process.

Knowledge is a powerful tool, so don't be afraid to ask a question! Contact us.