Are you considering homeownership in Adelaide? 

Discover the latest government grants and schemes designed to make your dream home more attainable. Goodrich Home Loans is here to help you navigate these opportunities with ease. Let's explore the details:

First Home Owner’s Grant:

One of the most enticing benefits for first-time buyers is the First Home Owner’s Grant (FHOG). Eligible purchasers of new properties can receive a generous $15,000 payment. But what exactly constitutes a 'new' property? It includes newly constructed houses, house and land packages, and properties bought off the plan. Plus, there's no income cap for this grant, making it a fantastic opportunity for aspiring homeowners.

Stamp Duty Waiver:

Stamp duty can often be a significant barrier to property ownership. However, the government is offering a Stamp Duty waiver for purchases of new properties. For fully completed properties valued up to $650,000, stamp duty is waived entirely. The waiver tapers off for properties valued between $650,000 and $700,000. 

Similarly, for land purchases, stamp duty is waived for land valued up to $400,000. Again, there's no income cap for availing this benefit, making it a valuable incentive for prospective buyers.

Eligibility for the Stamp Duty Waiver is outlined here.

First Home Guarantee Scheme:

Another game-changer in the homeownership landscape is the First Home Guarantee Scheme. This federal initiative allows borrowers to secure a loan of up to 95% of the property's value without the burden of paying a Lender’s Mortgage Insurance fee. It applies to established homes, land and construction, or newly built properties with a purchase price of less than $600,000. However, there's an income cap for eligibility, with a maximum gross income of $125,000 per annum for single applicants or $200,000 for couples.

Eligibility for the First home Guarantee is outlined here.

Additional Schemes:

In addition to the First Home Guarantee Scheme, there are other schemes available for specific demographics. The Regional First Home Buyer Guarantee scheme caters to those looking to purchase in regional areas, while the Family Home Guarantee assists eligible single parents and single legal guardians. These schemes provide tailored support to ensure that homeownership is within reach for all South Australians.

Information on these two schemes can be found here.

Seize Your Opportunity:

With the right guidance from an experienced Adelaide mortgage broker like Goodrich Home Loans, you can navigate these grants and schemes with confidence. Don't let the complexities of the housing market hold you back from achieving your homeownership dreams. Contact Goodrich Home Loans today to unlock the doors to your new home in Adelaide!

Conclusion:

Owning a home in Adelaide is not just a dream; it's a tangible reality with the support of government grants and schemes. Whether you're a first-time buyer or looking to upsize, explore the opportunities available to you and take the first step towards homeownership today. With the expertise of Goodrich Home Loans by your side, your journey to homeownership in Adelaide begins here.

Contact Goodrich Home Loans to kickstart your homeownership journey in Adelaide today!