The NSW Government has stamp duty concessions in place for certain people who buy land or a new home at Gregory Hills. If your house and land package is under $550,000, or if your land is under $350,000, and you are a first home buyer, you may be eligible for a full exemption from stamp duty. Partial concessions are also available for some property valued above these thresholds. Full information is available from the Office of State Revenue here: http://www.osr.nsw.gov.au/grants/fhnh
Under certain circumstances, buyers who are not first home buyers may be eligible for a NSW Government grant of $5,000 when purchasing a new home. Full details are available from the Office of State Revenue here: http://www.osr.nsw.gov.au/grants/nhg/about
Dart West Developments, as developer of Gregory Hills, is not able to confirm your eligibility for any of the above grant or concession programs. You should make your own enquiries to determine whether you are eligible.
The NSW Government recently announced a package of measures designed to make it easier for First Home Buyers to get into the market.
The Urban Edition land release at Gregory Hills is ideally placed to maximise the benefits for First Home Buyers from this package with its wide range of affordable land lots and house and land packages from Sydney’s best builders.
• abolition of stamp duty on all homes up to $650,000;
• reductions in stamp duty for homes between $650,000 and $800,000;
• a $10,000 grant for the building of a new home valued up to $750,000 and for the purchase of a completed new home valued up to $600,000; and
• the abolition of insurance duty on lenders’ mortgage insurance.
According to the NSW Government, this package could save a purchaser of a new home worth $650,000 more than $26,500.
Further information can be found at https://www.nsw.gov.au/improving-nsw/projects-and-initiatives/first-home-buyers/ and www.osr.nsw.gov.au. Gregory Hills recommends you seek professional advice on your eligibility for these NSW Government incentives for first home buyers.