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$3000 extra for FHO's!

Discussion in 'Real Estate' started by Jacque, 12th Nov, 2008.

  1. Jacque

    Jacque Team InvestEd

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    Seeing as we're on a spending spree for those lucky first home buyers, why not make it even more?! News from the NSW OSR site..
    Effective from 11 November 2008 a NSW New Home Buyers Supplement of $3,000 will be added to the existing $7,000 grant for eligible First Home Owner Grant applicants building a new home or buying a newly constructed home. The $3K Supplement will be available for 12 months (11 Nov 2008 to 10 Nov 2009), at which time it will be reviewed in the context of the property market. This Supplement is in addition to the $14,000 provided under the Commonwealth’s First Home Owner Boost scheme. This will give eligible First Home Owner Grant applicants building a new home or buying a newly constructed home a total of $24,000.

    No wonder we're all coughing up to pay a congestion tax to get into our own city- someone has to cover the benefits handed out by our govt!!
     
  2. Smartypants

    Smartypants Well-Known Member

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    Lol, I saw the title and thought "what's an extra $3 going to do?" 3 Grand, that's a bit different.

    Not that I begrudge anyone getting their first home, just wish I had that leg-up when I first purchased.
     
  3. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    Doesn't it make you feel a bit old when you realise that we are "old school" first home owners - we saved our own deposit and bought our first home without any government assistance whatsoever! :rolleyes:
     
  4. Jacque

    Jacque Team InvestEd

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    Sure does, though you're somewhat younger than me, Sim :)

    Our first IP cost a minute $125K with our first PPOR setting us back a massive $145K. How times have changed, even given inflation.....!
     
  5. Jacque

    Jacque Team InvestEd

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    All amended now- thanks for pointing it out!
     
  6. Billv

    Billv Getting there

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    Same here, it was very hard to get the deposit together and the loans were very hard to get as well.

    Youngsters today seem to think that it's difficult to buy their first home.
    It was a lot harder in our days...