Due to the housing affordability crisis, the NSW government has launched a new initiative to make things easier for first home buyers. It includes stamp duty exemptions, and concessions on some property purchases by first home buyers.
What does this mean for me?
If you’re a first home buyer in NSW, this is great news! It can translate into significant savings. These savings vary depending on the value of the property. Price brackets are used to calculate the stamp duty savings.
To make things simple, we created this handy table to show the savings available.
As you can see, the savings can be quite large. For example, if you are a first home buyer in NSW, buying a property for $650,000, you won’t pay stamp duty. As a result, you get to save $24,740 on stamp duty.
These savings have multiple benefits! First of all, you’re paying less in total fees for your very first home. This can make all the difference for people trying to get into the property market.
In addition, you won’t have to save up as much. Therefore, you may be able to buy your property sooner!
As a result of this stamp duty relief, it’s now easier for some people to purchase their first home. At Bee Finance Savvy, we love helping first home buyers. So we’re excited about helping our clients take advantage of these exciting savings!
Are you excited about stamp duty savings too?
If you’re excited as we are about these new savings, get in touch! Bee Finance Savvy can help explain how these changes may affect you. Whether it’s straightforward savings, getting your first property sooner or both, we’re here and ready to help you take advantage of these changes.
It’s easy – just give our Sutherland Shire broker Desiree a call, text or email! That’s right – to receive you free up front consult, call or text Desiree on 0455 131 937 or 1300 140 554. Desiree can also be reached at firstname.lastname@example.org . Alternatively, you can fill out the contact us form on this site.
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