Real Help For First Home Buyers In Australia
Online, December 17, 2012 (Newswire.com) - First home buyers in Australia can take advantage of First Home Owner Grant and make their real estate venture affordable. The grant is available for those who are investing in real estate for first time but the investment should be for personal use and the property shouldn't be a commercial property. It should be a residential unit and the buyer should stay in the unit for a specific time period.
"FHOG is a real help for people trying to purchasereal estate investment. The property should be reasonably priced as the grant is available for people, who really need help. Those who can invest in highly priced properties are not eligible for the grant. Only Australian residents can apply for the grant and new arrivals are kept out of the grant. But if a temporary resident marries a permanent citizen, he becomes eligible for FHOG," said a leading mortgage broker.
The grant starts at $7000 and varies from state to state.It also depends on the price of the property and also the type of property purchased.
Another advantage for first home buyers in Australia is reduced stamp duty. States allow them to pay reduced stamp duties in order to help first time real estate investors. Coupled with the FHOG, reduced stamp duties can bring respite from high real estate price. Medium segmentreal estate investors face many problems and most of the problems are related to finance. They can take advantage of grant money and also save money in stamp duties in their first real estate investment venture.
"The biggest advantage for first home buyers in Australia is competitivehome loans at a reduced interest rate. Australian mortgage industry is expanding at a rapid speed. New banks are opening and more financial companies are waiting to be formally announced. Lenders are competing with each other to attract real estate investors. You should take advantage of the competition," added the broker.
First home buyers in Australia should be aware of the advantages available for them.There is FHOG, reduced stamp duty and low interest home loans. You can easily take advantage of the grant and also get a competitive home loan, if you can explore the mortgage industry. In case you need help, you can contact us. We have beenin the mortgage industry for a long time and we have business relations with leading banks and financial institutions. For more information visit http://www.cbmmortgages.com/.