Granger Clark, Western Australia’s regional real estate experts, are advising first home buyers to act quickly in the new year to avoid grant cuts and save thousands of dollars.
The state government has recently announced that First Home Buyer grants in Western Australia will be slashed from $7000 to $3000 in July 2015, meaning those looking to secure an established home should look to do so in the first half of the year.
In addition to the grant modifications, the free stamp duty will be capped at $430 000, where it is currently $500 000, and the concessionary stamp duty threshold will be lowered from $600 000 to $530 000.
The changes represent an attempt to encourage first home buyers to build rather than purchase existing homes.
While some will be persuaded to build, others will still prefer the convenience an established home offers or feel the expense of renting while building and the inevitable delays in construction negate the potential benefits.
Regardless of the reasons for wanting an established home, it is beneficial to buy early in 2015.
For astute buyers, the changes may present an excellent negotiating opportunity. Armed with the knowledge that first home buyers will be out of pocket after the changes, sellers are likely to be eager to settle before the July deadline. Conversely, buyers can potentially use a portion of the money they will save before July to sweeten the deal and entice a seller.
The changes needn’t cause panic amongst first home buyers. Professionals Granger Clark Real Estate has an extensive range of houses for sale in Perth and the surrounding suburbs that are sure to suit your budget and your lifestyle. Browse the listings and contact either of the offices to discuss your situation in more detail .You might even get your dream house earlier than expected.
Press Release Contact :
Professionals Granger Clark Real Estate
Matt Condit
Shop 20, The Market Place Shopping Centre,
Illawarra Cres North, Ballajura, WA 6066
Ballajura – 08 9249 6888
Ellenbrook – 08 6296 6600
info@grangerclark.com.au
https://www.grangerclark.com.au/