first home buyers

Viewing 4 posts - 1 through 4 (of 4 total)

rich86
Member
@rich86
Join Date: 2011
Post Count: 1
May 29, 2011 - 7:04 am
hello their,
my partner and i want to buy our first unit or townhouse.
we both have government jobs and dont want to struggle with a house we would live in..
we are currently living in a defence house, so we are paying very cheap rent.
if we where to buy in brisbane we would loose our dha home, i would like to know what spots are good to buy out side of brisbane?
also is it true that you must live in your first home for 12 months to recieve the 1st home buyers grant? if so would i realy miss out if i didnt get the first home buyers grant and just started to lease the property???
any help would be so great..^^..
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
May 29, 2011 - 8:43 am
Hi Rich
Welcome to the forum.
Your question regarding where to purchase outside of Brisbane is extremely broad. You’ll have to do some ground work – read up on forums like this, grab some books/magazines and begin educating yourself about what to look for when investing in a particular area.
To qualify for the FHOG you usually have to live in the property for 6 months within the first year.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Bluegrass
Participant
@bluegrass
Join Date: 2009
Post Count: 73
May 30, 2011 - 6:41 am
Hi Rich
As builders we recently went through this scenario with someone from the army.
That fact is the amount of money you save by getting the 1st home owners grant pales into the background compared to the benefits you receive from the government as a defense personal.
What we did was give back to the client the $6,000 we had allocated for marketing and commission.
This meant the client got what they wanted and only missed out on $1,000 from the 1st home buyers grant.
Regards
Bluegrass
0449 905 797
fredo_4305
Participant
@fredo_4305
Join Date: 2009
Post Count: 336
May 30, 2011 - 9:50 am
Hi Rich,
I am also in Defence and have been investing in property for the last 5 years. There are many pros and cons for living in a DHA house. In Brisbane the rent you would save would approximately be $10 000 per year.
On the Pro side you get $13K from defence to buy a house post settlement plus the defence loan should you wish to have a principle and interest loan. The Con to this is you must live in the property for 12 months and DHA will not give you another property to rent should you be housed in suitable accommodation.
In some states Defence members may be exempt from the 6 months living time for the FHOG requirement check with your state revenue office or do a search online. Dollar signs just appeared before my eyes…..
Also if you are getting posted you could potentially get the FHOG and the defence grant live in it for 6 months and move on to another DHA rental.
All in all it is best financially to stay in DHA but if you need the HPAS so be it.
There are also a couple of other tricks which I will PM you.