Stamp duty concession for investors. The Victorian Government through the State Revenue Office has announced a land transfer (stamp) duty waiver for purchases of Victorian residential property with a dutiable value of up to $1 million. Please take some time to view the link State Revenue Office. Stamp duty concessions - here is a snapshot: For new residential properties, a 50% land transfer duty...
New government incentives for buyers - here is the latest. Both the state and federal governments have worked together to stimulate the construction industry with the following incentives: HomeBuilder package The home builder package is $25,000 up until 31 December 2020. This has been extended offering $15,000 from 1st January 2021 to 31st March 2021. The be eligible for the home builder grant the...
When considering building a brand new house on a vacant block of land, you’ve probably come across the term, site costs. Those that have not, here we discuss what site costs are and what they include. When obtaining a build quote, it’s important to understand all of the costs required to build your dream home or investment property. A full turn-key build has become widely popular as the price is fixed...
A building inspector can provide confidence and peace of mind when buying a property off the plan. Even the best of builders require quality control. With today’s building practices, most supervisors oversee multiple jobs at the one time. It is recommended that regular stage inspections are carried out, so you have the peace of mind that your investment has been built in accordance with the requirements...
When buying a property, it's important to look at a number of items. One of those is understanding an easement on a property. Many people find it difficult to understand easements and the many legal problems that surround them. It is a complex area with some difficult terms and conditions. Here is some basic information to help. What is an easement? An easement is a section of land registered on your...
Land is a precious commodity. Some feel it’s the essence of property investment. Are you familiar with the term titled land? In this article we teach you what titled land is compared to untitled. In residential property, titled land is when the allotment has been officially recorded with the Land Registry. If your block is officially titled land it’s been granted a Certificate of Title. This...
An open floor plan has become extremely popular and with good reason. A little extra light and space space goes a long way. An open floor plan usually involve combining your kitchen, dining and living areas into one big space that suits a family lifestyle. The kitchen island bench is the only separation between the open floor plan. This makes a small house feel light and airy, giving the illusion of a...
There is good news out of Canberra with the announcement of the $680 million HomeBuilder package. The Federal Government introduced its HomeBuilder package on 4 June 2020. The HomeBuilder package The big winners are owner occupiers and first home buyers. The government is prepared to compensate owner occupiers and first home buyers if they choose to buy a new or off-the-plan property in the remainder...
Are you ready to build a new property? Is it for investment or to occupy? Regardless of the purpose, how do you choose the right builder is critical to gaining longevity, low maintenance and a well-presented property. How to choose the right builder Your motive may differ from others. You may want to miminise some costs for an investment property or you may want superior workmanship to raise your family....
It is finally official. The Government has established a new policy called the mortgage guarantee scheme, which is aimed to help first home buyers enter the property market. The mortgage guarantee scheme will offer first home buyers the opportunity to purchase a property with just a 5% deposit subject to eligibility. The scheme will essentially boost up to 10,000 first home buyers each year on low and...