Buy Your First Home on the Yarra With Only $25,128 Deposit*
Special Offer for Victorian First Home Buyers
26/02/2015 by The Hopkins Group
The Hopkins Group currently has an outstanding offer on a newly built property on the Yarra River in Abbotsford, Melbourne.
These completed properties are currently available through The Hopkins Group with full stamp duty savings.
Whether you are an investor or a first home buyer, this offer is one not to be missed!
The great news for Victorian First Home Buyers is, as these one bedroom properties are under $600,000, you are eligible for a 50% reduction in stamp duty as well as the $10,000 First Home Owners Grant. This means the additional 50% stamp duty is refunded into your back pocket! The required deposit to purchase one of these properties is therefore significantly reduced. In fact, you can pick up a property worth $417,500 with a deposit of just $23,128 + legal fees and mortgage costs and adjustments!
Example Property Purchase details:
One bedroom property purchase price: $417,500
10% Deposit required at settlement: $41,750
Regular Stamp Duty fee: $17,245
First Home Owner (FHO) Stamp Duty fee (50% of the Regular Stamp Duty fee): $8,622
Remaining 50% of the regular stamp duty fee (in your back pocket): $8,622
First Home Owners Grant (FHOG): $10,000
10% Deposit required after FHOG and FHO Stamp Duty concession: $23,128
Legal fees, mortgage costs and adjustments: $2,000 approx
LET’S BREAK IT DOWN:
|10% Deposit required for $417,500 Property||$41,750|
|Plus Legal fees, mortgage costs and adjustments||$2,000|
|Less First Home Owner Grant (FHOG)||$10,000|
|Less Remaining 50% of the regular stamp duty fee||$8,622|
|TOTAL DEPOSIT NEEDED||$25,128*|
These apartments have been built and are ready for settlement. If you would like to discuss this fantastic offer in more detail, please contact us on 1300 726 082, send us an email email@example.com or contact us here.
This offer is valid until 30 April 2015.
*Note: Subject to being approved for a loan. A 10% deposit will attract Lenders Mortgage Insurance (LMI) with most lenders; we have assumed this will be added to the loan. For full conditions and considerations, please contact us.
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Domain recently published an article titled “What I wouldn’t buy: Five successful investors share their advice”. An associate of John Hopkins wrote to us to seek John’s views on comments made in the article. This blog post provides an edit of John’s reply.