Geraldton Heights: Friendly to First Home Buyers

Anyone from Perth who looks at the Geraldton real estate market is in for a big surprise. In Geraldton, the land for sale is much less expensive than its equivalent in Perth. For the first home buyer, a move to Geraldton can mean the difference between being able to buy now and having to rent for a few more years. Nowhere is this more evident than Geraldton Heights Estate.

So, what makes Geraldton Heights Estate so friendly to first home buyers? There are three factors: the First Home Owner Grant (FHOG), stamp duty tax and the price of Geraldton property, especially at Geraldton Heights Estate, compared to that in Perth.

Geraldton Heights: Friendly to First Home Buyers

First Home Owner Grant (FHOG)

The first home owner grant in WA has been adjusted to boost the construction industry by encouraging first home buyers to purchase new homes. If you want to buy an established home, you are only eligible for $3,000. If you want to buy a new home, you are eligible for $10,000. That is a huge difference, and a deal-maker or deal-breaker for many young households.

Stamp Duty Tax

If you want to buy an established home, you are exempt from stamp duty tax up to $430,000 in WA, but you have to pay tax on any amount over $430,000. If, however, you want to buy one of the house and land packages at Geraldton Heights Estate, you don’t have to pay stamp duty tax on the building, but just the land up to $300,000. In Geraldton, you will quickly see that you aren’t going to be paying stamp duty tax on any of our homes.

Overall Price

In Perth suburbs, we are able to keep our prices down to $297,000 for a block in some estates. In Geraldton Heights Estate, we have blocks starting at $129,000. A new home will therefore cost significantly less in Geraldton than in the Perth area.

Call us today to learn more: (08) 9301 4445.