From 1 July 2017, the Victorian State Government will abolish stamp duty for first home buyers purchasing a home worth $600,000 or less. In addition, those purchasing a property worth between $600,000 and $750,000 will receive some form of stamp duty concession.
The changes come in from July 1st 2017 and are expected to help more than 25,000 first home buyers everyyear, by allowing them to save in excess of $8,000 each in stamp duty fees.
With interest rates continuing to sit at historical lows, now could be a great time for first home buyers to look at their finances and consider taking the plunge.
I can help you seek home loan pre-approval and identify exactly how much you may be able to borrow.
If you want to take advantage of low rates and hear more about the stamp duty concessions and how it might impact you and your property ambitions, give me a call today.