Use Government Schemes to Buy Your First Home

Use Government Schemes to Buy Your First Home | malte helmhold Lo2ejRzJDic unsplash scaled

Buying your first home can seem a little daunting, especially in today’s property market.

However, with a bit of help from government schemes and with new property developments like Capricorn Beach, there is no need to comprise on your dream coastal home.

Be in the know by checking out all the help available for those saving to buy their first home:

 

  • First Home Super Saver Scheme (FHSSS)

Under the FHSSS, you don’t have to pay income tax on any income voluntarily directed to your superannuation account. As of 2021, you can now take up to $50,000 out of your super to buy your first home.

Therefore, voluntarily directing a portion of your income to your superannuation can be a great way to save! To learn more about the FHSSS, check out the ATO FHSSS webpage.

 

  • Stamp Duty Concessions

First home buyers may be given some stamp duty concessions, depending on the price of the home they buy. This will differ from state to state in Australia.

In WA, concessions are available for homes priced less than $530,000 and land priced less than $400,000.

 

  • First Home Loan Deposit Scheme (FHLDS)

The FHLDS is now available to 20,000 Australians per year. The scheme makes paying your deposit on your first home can be easier than ever. Under the FHLDS, first-time homebuyers only pay a 5% deposit on their new property and are exempt from paying lenders’ mortgage insurance.

Learn about the eligibility requirements and how the scheme can be used for Capricorn Beach house & land packages, at the Australian government FHLDS website.

 

Own Your Dream Coastal Home at Capricorn Beach

At Capricorn Beach, you can own an oceanside home without the million-dollar price tag and live your dream coastal lifestyle.

From the stunning, white-sand Yanchep beaches to the development of the brand-new Capricorn Foreshore, there are so many reasons to join the Capricorn Beach community.

 

Get in touch today, let our team know that you are a first home buyer, and we will help you explore the options for government aid.