Many home buyers and investors believe that purchasing an existing property is the best option. The idea of moving in or renting it out immediately seems appealing. However, they often overlook the significant financial advantages of buying a new home—especially when it comes to grants, tax benefits, and lower upfront costs.
First Home Buyers: Don’t Miss Out on $30,000 in Government Grants!
If you’re a first-home buyer in Queensland, choosing a new home could save you thousands of dollars. Here’s why:
✅ First Home Owner Grant: By purchasing a newly built property, you could be eligible for the $30,000 First Home Owner Grant, which can go toward your deposit. If you buy an existing property, you miss out on this major financial boost.
✅ Low Deposit Home Loan: New home buyers may qualify for a 5% deposit home loan without paying Lenders Mortgage Insurance (LMI). This can make homeownership much more affordable.
✅ Lower Transfer Duty: Buying an existing property often means paying a higher transfer duty (stamp duty), whereas purchasing land and building a new home reduces this cost significantly.
Investors: Maximize Tax Benefits by Buying New
Many property investors focus solely on capital growth, but they often overlook the huge tax benefits that come with buying a brand-new investment property.
💰 Depreciation Deductions: When you build a new property, you can claim depreciation on construction and fixtures, which can significantly reduce your tax bill. Existing properties don’t offer the same tax benefits.
💰 Lower Transfer Duty: When you buy a new home, you only pay stamp duty on the land, which can cut your costs in half compared to buying an existing property.
Foreign Buyers & Temporary Visa Holders: Restrictions on Existing Homes
If you’re a foreign investor or in Australia on a temporary visa, you cannot buy an existing property. The Australian government only allows foreign buyers to purchase new properties, making new home and land packages the only viable option.
The Smart Choice: Build New & Save More
For first-home buyers, investors, and foreign buyers, the benefits of buying new far outweigh the appeal of purchasing an existing property.
At Rustik Realty, we have exclusive house and land packages that help you take full advantage of these financial benefits. Plus, we guide you through the entire process—from choosing the right property to securing finance.
📞 Contact us today to explore the best new home options and maximize your savings!