BUYING PROPERTY IN AUSTRALIA?
Some Common Questions when Buying a Property in Australia, along with useful links.
A. Yes. Eligible Buyers can use this towards their purchase on brand new and off-the-plan and new house and land and townhouses. The property must be new or planned to be built. Schemes are different in all states of Australia.
A. There are many advantages to owning an investment property and apart from capital gain and cash flow from rental income, depreciation is up there as one of the main reasons people invest in residential real estate. Especially new and off-the-plan property as the tax benefits are much higher than with second hand property. Visit the Australian Taxation Office for details on Tax and Property.
A. Yes. The purchase of new and off-the-plan property is welcomed by overseas investors and is subject to the Foreign Investment Review Board guidelines.
A. Generally, a 100% refundable $1000 - $5,000 initial deposit* is required on signing of an agreement to purchase, with a further 10%* of the property price payable on signing of the contract. Foreign Investors may require 20% Deposit. *Individual project requirements may vary.Buying a house is exciting and life-changing. What's not quite as much fun is saving for the deposit. The government have come up with a scheme to help First Home Owners save to get that deposit faster. Keep in mind, the more money you put down upfront, the less you'll have to borrow.First Home Owners can access the Queensland Governments First Home Super Saver Scheme Click on the link to see if you are eligible.