4 Reasons to consider a house and land package if you’re a first home buyer

If you’re a first home buyer wanting to maximise your buying potential, a house and land package could be worth considering. With the right approach, this purchase can see you achieve your real estate goals faster and at significantly less cost.

Here are the top four reasons to consider a house and land package as your first home:

1. First Home Buyer’s grant
As a first home buyer, talk to your broker about whether buying a house and land package could make you eligible for a state government grant, valued at up to $20,000.

2. Potential savings on Stamp Duty
Depending on the state you’re in and factors such as location and property value, a house and land package can potentially save you a lot of money. Talk to your broker to see if this applies to you.

3. Brand new home
You’ll have opportunities to customise the aesthetics of your new home to suit your preferences. All new homes built in Australia need to meet high energy efficiency standards, meaning you’ll save on power bills. Additionally, a new home will come with significantly less maintenance costs than an established property.

4. Depreciation benefits for investors
If you’re buying as an investment and plan to rent out the property, not only can you attract a higher rental return given it’s a new build, you may also be eligible for thousands of dollars’ worth of tax deductions. On settlement, have a tax depreciation schedule calculated to claim deductions for your new property’s fittings and fixtures.

If you would like to discuss your situation further, contact us today at info@bossfinanceaustralia.com.au.

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