LET’S say you’re ready to buy your very own home.
You’ve got your finances in place, you’re tired of renting or you’re ready to say goodbye to living with mum and dad.
But where to begin, should you buy a new or established home?
Building your own home is an excellent way to enter the property market.
Read on for why you should consider building.
First home buyers grant
If you’re a first home buyer, lucky you, because you’re eligible for the WA Government’s First Home Owner Grant.
Owners wanting to buy or build a first home may apply for a $10,000 grant.
And any contracts signed, in 2017 only, may be eligible to apply for a further $5000 boost.
That could be an extra $15,000 towards your dream home!
Home loan interest rates at record lows
It’s a great time to build because you can benefit from extended low-interest rates.
According to Trading Economics, it hit a record low of 1.5% in December 2016.
In comparison, interest rates averaged 4.81% in the past 10 years.
Stamp Duty savings
A Stamp Duty tax is paid during the transfer of land or property.
But if you’re a first home owner and you decide to build, depending on the price, you might not have to pay Stamp Duty.
For more information on property or land taxes visit the WA Department of Finance.
Get a kick-start from Keystart
The State Government’s Keystart initiative provides low deposit home loans for first and second home buyers in WA.
There’s also no lenders mortgage insurance charges, which is usually required by other lenders if clients fall short of their deposit requirement.
Keystart said it can save its clients between $8000 to $10,000 by charging no lenders mortgage insurance.
A first home built for YOU
One of the best things about building a new home is you get to choose all the colours and fittings that represent your taste and style.
From choosing your bathroom benchtops and tiles to the colour tone of your kitchen – it’s up to you!
You can personalise your floorplan that works best for your day-to-day routine.
Maybe you want a games room in your dream home? Or a home theatre or study area?
Aussie Living Homes has a range of designs that will make your dream home come true.
Most importantly, you can move into a brand new home (with a lifetime structural warranty) that’s designed specifically for your lifestyle, without the hassle and cost of renovating.
Aussie Living Homes have some ripper new home designs created by our expert team of designers.
The good news is they’re affordable too!
Want to know more about getting ready for your first home? Head over to Can I Get My Own Home and find out if you qualify for a home of your own.