Articles tagged with "First Home Buyer"
Found 3 articles.
First Home Super Saver (FHSS) Scheme Explained
Saving for a house deposit is the hardest part of buying a home. If you save money in a standard bank account, you are saving with your "after-tax" money. If you earn $90,000 a year, the government taxes a large chunk of your income, and you can only save what is left over.
Lenders Mortgage Insurance (LMI) & Guarantor Loans
The golden rule of Australian real estate is that banks want you to have a 20% deposit. This gives the bank a "buffer." If you stop paying your mortgage and property prices drop, the bank can sell your house and still get all their money back.
Stamp Duty Concessions & First Home Owner Grants (FHOG)
When buying a home, the deposit isn't your only upfront cost. The largest hidden expense is Stamp Duty (or Transfer Duty)—a state government tax applied to property purchases. On a $700,000 home, stamp duty can easily cost you $20,000 to $35,000 out of pocket.