With the release of the federal budget earlier in the month, the Housing Industry of Australia (HIA) has hailed the fact the treasury was able to keep the First Homeowners Grant of $10,000 available. This is great news for those looking at taking their first step onto the property ladder and buying real estate in Bunbury East and the surrounding suburbs.
For many people, buying their own property seems completely out of reach as house prices continue to rise. CoreLogic RP Data highlights this, as the Perth median dwelling value has stayed above $600,000 for yet another month. That same level has not quite rippled into Bunbury just yet, and homebuyers will be hoping it stays that way.
Buying your own property is a fantastic start to taking control of your retirement planning by investing in something that holds value extremely well. While it's unlikely you'll be able to afford to buy outright, over time a mortgage can be paid off and then your capital gains will be rolling in.
"The retention of the First Homeowners Grant of $10,000 for new home construction, retention of transfer duty exemption for land and continued house and land exemptions and concessions support already in place for first homebuyers was extremely positive news and welcomed by HIA," stated HIA executive director John Gelavis in a 12 May media release.
"Focusing financial support on residential construction has been a key policy objective of the State Government, and the housing elements in the 2016-17 State Budget will assist in building the much required housing stock for the states."
Looking to get onto their own patch of real estate in Bunbury and build a brand new home? Get in touch with Ray White Bunbury to have a look at available properties that would work for you.