The Federal Government initiated several incentives for First Home Buyers to improve construction activity in the new home market. With recent changes to Grant amounts, there are still quite a few healthy Grants on offer. Below is a quick summary for NSW property purchases:

Grant Offer 1) First Home Buyer purchasing an established home to live in:

v  $7,000 First Home Owner Grant until 30/6/2010

v  $3,500 Commonwealth Boost available until 31/12/2009

v  First Home Plus Stamp Duty Exemption up to $500,000 (up to $17,990), and sliding scale to $600,000 up to 30/6/2010

Example 1: Total Benefit if you exchange on a $500,000 property by 31/12/09 = $28,490

Example 2: Total Benefit if you exchange on a $500,000 property by 30/06/10 = $24,990

Grant Offer 2) First Home Buyer purchasing a new home to live in:

v  $7,000 First Home Owner Grant until 30/6/2010

v  $7,000 Commonwealth Boost available until 31/12/2009

v  $3,000 NSW Supplement until 30/6/2010

v  First Home Plus Stamp Duty Exemption up to $500,000, and scaled to $600,000 up to 30/6/2010

Example 1: Total Benefit if you exchange on a new $500,000 property by 31/12/09 = $34,990

Example 2: Total Benefit if you exchange on a new $500,000 property by 30/06/10 = $31,990

Grant Offer 3) Any Home Buyer or Investor….. up to 31/12/09     50% discount on Stamp Duty for a new home/unit.

v  The NSW Housing Construction Acceleration Plan (HCAP) halves your Stamp Duty on a purchase of a new home up to $600,000. It is available to anyone who doesn’t qualify for the First Home Buyer grant, and it is unlimited so you can buy 50 new homes and pay half the stamp duty on all of them.

Example 1: Total Benefit if you exchange on a new $500,000 property by 31/12/09 = $8,995

Things to look out for: There are conditions to receiving the grant, deadlines to meet, and all states have different amounts on offer.

Need more info? : If you are thinking of buying property in the next six months, Call Plan Assist’s Loan Advisor Team on 02 9449 2333 to learn how you can receive these Grants.

Harry Charalambous, founder of Plan Assist, explains how simple a property option can be.

Harry frequently assists investors in acquiring property using property options and has become an expert with negotiating and securing favourable terms when purchasing.

Many people think (incorrectly) that you can only succeed in real estate when the economy booms.

In reality, poor economic times are great for real estate investors. You may find properties at deep discounts. You might also f ind deals that simply would not exist in a booming economy. Change brings opportunity.

Experienced investors and developers will always tell you: “you make your money when you buy”. That is a strong statement right now as this could be one of the best opportunities to invest before the economy picks up momentum.

To put it another way, watch the small video and see what Warren Buffet says… Advice from Warren Buffet

To understand how you can capitalize on property opportunities in today’s economy, call 612 9449 2333 to speak to an experienced Property Advisor to discuss your investment strategy.

If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and ‘shows’ better than the competition, it will have a better chance of being sold quickly.

The secret to pricing a property correctly is perfecting the technique of comparative shopping.

Although comparing houses with different styles, square-meteridge and locations is challenging, it’s still one of the best methods to use when determining a home’s market value.

A home’s worth is most effectively evaluated through a process known as Comparative Marketing Analysis. Taking a look at assets, such as a swimming pool, bigger than normal living spaces, a fantastic view, adjacent city parks and other attractions, your home can then be compared with similar properties that have sold in the area within the last six months.

Typically, the agent is able to recommend a realistic price range that will ensure you top dollar and a reasonably good response.

It is suggested that factors such as the amount of time needed to sell your home can alter the agent’s price recommendation dramatically. If you’re under time constraints because of unexpected job changes or moving agreements you’ve made on another property, this will narrow your chances of selling the home for top dollar in the market.

Assuming you have sufficient time to market the home, here are a few small steps you and your agent can take to finding the right price for your property.

The best comparisons can be made with similar homes that have been sold within the last 45 days. Any longer and other factors, such as the economy, could cloud your view of how much your home is really worth.

Another good benchmark is to review the selling prices of homes that have just been sold and are pending closes. This is information that most real estate agents should be able to share with you.

Being open and honest about what you see as the home’s greatest strengths and biggest weaknesses will also help an agent get a better feel for how to best evaluate (or assess) and market your home.

Think of your home as if you were the buyer. If your home is listed at the right price, you’re well on your way to a speedy and fruitful sale.

At Plan Assist, we do more than just Home Loans, we make property investors!

Plan Assist help families just like yours find their dream home or obtain their next property investment, even if they have no experience in searching or finding that great bargain.

Our acquisition team, mortgage advisory team and project management team are ready to act on the favourable buyer’s market conditions right now in Sydney.

To find out more about securing your next property purchase, visit our website or call 02 9449 2333 to talk to one of our property specialists.