{"id":70745,"date":"2020-08-29T04:54:32","date_gmt":"2020-08-28T18:54:32","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/goldenplains\/?p=70745"},"modified":"2020-08-23T18:24:02","modified_gmt":"2020-08-23T08:24:02","slug":"saving-on-stamp-duty","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/goldenplains\/news\/saving-on-stamp-duty\/","title":{"rendered":"Homebuyers saving on stamp duty"},"content":{"rendered":"

IN the 2019-2020 financial year, more than eight hundred Ballarat homebuyers had their stamp duty fees reduced or removed.<\/p>\n

Approximately, $10 million was saved under the State government\u2019s Homes for Victorians<\/a> program, where buyers spending under $600,000 don\u2019t have to pay stamp duty, and those purchasing properties in the gap to $750,000 receive a concession.<\/p>\n

Building designer, John Davison was able to buy his first home in Mount Pleasant in November last year.<\/p>\n

Because he, and his wife, wanted and ended up purchasing an established home, the first homeowners grant<\/a> was off the table, but stamp duty savings ensured they could achieve their goal.<\/p>\n

\u201cMy wife got pregnant in September, and that turbocharged our plans, so we wanted to get into a house before the baby came,\u201d he said.<\/p>\n

\u201cWhen we found our place, we put an offer in, went for it, but didn\u2019t have a great deal of money, so the stamp duty exemption was the difference between us buying and not buying at the time.<\/p>\n

\u201cWe\u2019re really happy we got into a place before the baby, because I can\u2019t imagine trying to deal with that now. We were very lucky in that regard.\u201d<\/p>\n

Mr Davison said the application process was \u201cstraightforward and easy.\u201d The couple are most likely already financially benefiting from their investment, too.<\/p>\n

\u201cWhen you\u2019re renting and trying to save a deposit, you\u2019re chasing your tail…but our house has probably gone up in value by a reasonable amount already.<\/p>\n

\u201cIt would be great if more people could take advantage of these schemes sooner rather than later; it\u2019s a good result,\u201d he said.<\/p>\n

\u201cGoing out to a new subdivision is not the only option<\/a>. There\u2019s benefits to buying an established home, and then modifying it to suit your needs as time goes on. You don\u2019t necessarily need to build.\u201d<\/p>\n

Member for Buninyong, Michaela Settle said regional Victoria is a great place to ground your life.<\/p>\n

\u201cThe regional stamp duty concessions are making it easier for first home buyers to make the move,\u201d she said.<\/p>\n","protected":false},"excerpt":{"rendered":"

IN the 2019-2020 financial year, more than eight hundred Ballarat homebuyers had their stamp duty fees reduced or removed. Approximately, $10 million was saved under the State government\u2019s Homes for Victorians program, where buyers spending under $600,000 don\u2019t have to pay stamp duty, and those purchasing properties in the gap to $750,000 receive a concession. […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":139,"featured_media":70746,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7],"tags":[],"post_folder":[],"class_list":["post-70745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nHomebuyers saving on stamp duty - Golden Plains Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/goldenplains\/news\/saving-on-stamp-duty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Homebuyers saving on stamp duty - Golden Plains Times\" \/>\n<meta property=\"og:description\" content=\"IN the 2019-2020 financial year, more than eight hundred Ballarat homebuyers had their stamp duty fees reduced or removed. Approximately, $10 million was saved under the State government\u2019s Homes for Victorians program, where buyers spending under $600,000 don\u2019t have to pay stamp duty, and those purchasing properties in the gap to $750,000 receive a concession. 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