First Home Buyers
Q: What is a builders ‘spec’ home?
A: A 'Spec' home or 'Speculative' build is when a builder buys the land themselves, designs and builds a house to suit and sells to the buyer as one, complete package with all inclusions as part of the sale
Q: What is the First Home Buyers Grant?
A: The First Home Buyers Grant is a government initiative to help first-time homeowners get into their first home, sooner
Q: Do you have to buy brand new to get the Grant?
A: Yes, you must purchase a property that has never been lived in previously
Q: How much is the First Home Buyers Grant?
A: As of July 30th 2018, the First Home Owners Grant totals $15,000
Q: Can you purchase any new home to get the First Home Buyers Grant?
A: Your new property must be 'brand new' and never been lived in and purchased for under $750,000 to be eligible for the grant
Q: I’ve purchased property overseas, can I still access the First Home Buyers Grant?
A: Yes, you can receive the First Home Buyers Grant as long as you have not owned property in Australia. If you have owned property overseas you may still receive the Grant, however, you will not be eligible for exemption of stamp duty. Stamp duty is payable if you have owned a property anywhere in the world but you can still get the grant as long as you have not owned in Australia.
Q: My partner has purchased before but I haven’t. Can we get the full First Home Buyers Grant?
A: No. All parties who are required to complete the contract must be first-home buyers
Q: Can you help with finding a conveyancer or solicitor?
A: Absolutely, Paul Kelly Marketing works closely with local conveyancers who will aptly represent you and your needs to ensure a smooth, stress-free buying process
Q: How much are the fees for a conveyancer or solicitor to act on my behalf?
A: While all are different and we encourage you to request a quote, our contacts can offer representation for approximately $1200 including searches
Q: What does the conveyancer or solicitor do?
A: In short, they represent you to ensure the contracts are legal, binding and offer advice. They will also perform 'searches' on the property on your behalf to ensure you are aware of all regulations, covenants or encumbrances
Q: Can you help with finding a finance broker?
A: Yes, again, we have several finance brokers with whom we work closely with. They will act on your behalf, taking your personal situation into account in advising the best financial institution to suit your requirements. Finance brokers will also assist you in applying for and obtaining the government First Home Buyers Grant
Q: What does a finance broker cost?
A: Our contacts will represent you for free as they take their fee from the lending institution
Q: What sort of deposit do I need?
A: Your finance broker will be able to assist as this will depend on the bank or borrowing institution and whether the lender will accept the First Home Buyers Grant as part of your deposit
Q: Do we have to use one of the ‘Big 4 Banks’?
A: Our finance brokers will scan all the lending institutions from the big banks to a variety of lenders to find the best package to suit your needs
Q: What other fees are there when buying?
A: A buyer will encounter two important fees, stamp duty or transfer duty and legal representation
Q: What is stamp duty?
A: Stamp duty or, as it is more commonly known in Queensland, transfer duty is a one-off government fee you will be required to pay when you buy land or property. Stamp duty is imposed following the transfer of a title whether it be for residential, commercial, or investment purposes.
Q: How much is stamp duty?
A: If you purchase a brand new property under $500,000 as a first home buyer, you will be exempt from stamp duty. If you buy between $500,000 - $550,000 you will pay a reduced amount while over $550,000 you'll need to pay the full amount regardless of if it's your first home. As an example, normal stamp duty on a $500,000 property would be approximately, $9,000 or $18,000 if purchased for an investment property
Q: Do we need a pest and building certificate on a new home?
A: As we only specialise in brand new homes, our builders will present you with a 'Form 21' - a document presented at the completion of the building, to ensure the homes are compliant with local Council building regulations. If you desire, you can still ask for an additional building and pest inspection at an approximate additional cost of $400
Q: Once we want to buy a property. What do we need to do?
A: We make things stress-free and easy. Once you wish to go to contract, we take some simple contact information and liaise with the builders, brokers, and legal entities. We'll prepare a contract and ensure your legal representative sights it prior to asking for any signatures. Once signed, we distribute the contract copies and work with you, the finance brokers and legal teams to ensure a swift and satisfactory conclusion
Q: Can we purchase the home before it's complete/ under construction?
A: Yes, absolutely. In fact, 90% of our listings are purchased prior to completion. You'll still be eligible for the First Home Owners Grant.
Q: Can we make alterations to the home?
A: In some cases, we can assist with making minor alterations to a build or existing brand new property.
Q: Why buy in Aura or Harmony?
A: You can view information on the two areas by clicking on our 'area profiles' page or by clicking here.
Q: What do you have available for sale now?
A: You can view our current listings by clicking here. Remember only those under $750,000 are eligible for the First Home Buyers Grant and only those under $500,000 are stamp duty exempt
Q: How do we contact you?
A: All our contact details can be found by clicking here.