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The NSW Office of State Revenue has announced that from 1 October 2012, the $7 000 First Home Owner Grant will be replaced by the $15 000 First Home Owner Grant (New Homes) Scheme.
First home owners who purchase or build a new home where the eligible transaction commencement date (contract date) is on or after 1 October 2012 will be eligible for the $15,000 grant. The $7,000 first home owner grant for established properties ends on 30 September 2012.
The recent announcement that the First Home Owner Grants will change has caught the interest of younger buyers. Tura Beach resident Julia Smith, an under 30 Professional with a young family, was about to purchase an established home under the current First Home Owner grant but has now changed tack and is considering buying land in Tura Beach. She said ?We?ve been weighing up the odds. It?s easer to buy an established property as you can move in straight away upon settlement. But to qualify for the new grant we need to think about building; we will need to find a reliable builder. There?s a lot to think about.?
Principal of Fisk & Nagle First Choice Real Estate in Cooma, Don Peterson said ?This new grant will definitely affect buyer behavior, it will be harder for the younger buyers in their 20?s to afford to build a new home but I expect to see Professional couples in their 30?s taking advantage of this new Home Owner Grant to build and, as a result, land sales will increase.? Fisk & Nagle First Choice Real Estate have a good choice of land on offer in Cooma and surrounds. Contact Cooma Sales on 6452 4043 for an inspection
Tagged: building in Cooma, First Home Owner Grant, purchase a new home in Cooma, Purchase land in Cooma
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