Viewing Single Post From: 1st Time Buyers Grant

Viewing Single Post From: 1st Time Buyers Grant
Paul	May 4 2007, 08:43 AM
Croc Posts: 270 Group: Members Member #110 Joined: March 27, 2007	Cath So to wrap things up, within the scope of being a migrant you'll get the $7000 grant if: You're an Australian resident; The grant applied for is for a house purchase or build, not for land purchase; It is your intended residential address i.e. not an investment property; It is your first ever house purchase or build in Australia; You apply within a 12 month period AFTER the completion of the contract - purchase or build. I don't see it as a problem for anyone. Why wouldn't you want to get your hands on the money at the earliest opportunity? It's good to raise points like this. But I would say that if you didn't already know you soon would when you spoke to your builder or mortgage advisor; they would fill you in on all the details immediately to help soften the financial aspect. We didn't know until we spoke to our prefered builder. But, and this is important, everyone should be aware that legal costs can be quite a lot and they do vary considerably from city to city and state to state. A lot of this extra cost is due to the searches that have to be undertaken. City searches are considerably more expensive as a rule of thumb over country searches and city lawyers follow suit. I remember a competition that was held to win one of two show homes. One was in the heart of Sydney and the other in the heart of the Sunny Coast. It quite clearly stated that the legal cost of purchase of both properties would be included in the prize. It also highlighted the cost of legals - the Sydney property, despite being half the size attracted legal bills four to five times that of the other property, amounting to something like $20,000. Paul.


1st Time Buyers Grant · Migration Matters