Got your tax return back? Invest this in property…

July 15, 2020
It’s tax time! Woohoo! For some of us, it’s the only time of the year we accumulate a lump sum payment.
Your tax return could go a long way towards setting yourself up for the long-term and by placing this
aside, and for some of us, adding to this slightly more, to form a house deposit. To give you an idea of just how far a good deposit goes:
  • If you are a first home buyer in Queensland: For as little as an $8,000 deposit you can buy a brand new property (house and land)… yes, you read correctly.
  • With all the current grants and incentives that are out in the market until the end of December 2020, what you do with your tax return this year, can mean you score yourself a brand new property for your first home. from as little as $420,000.
For this period in particular (June – December 2020), our customers are taking advantage of the
  • First home buyers low deposit scheme which ensure you pay no LMI (Lenders Mortgage Insurance) which is a cost saving of $13,000 to the average First Home Buyer
  • PLUS the HomeBuilder Grant of $25,000 cash back when you buy and build a new house
  • PLUS the QLD FHB Grant of a further $15,000 cash back
  • PLUS some builders in the marketplace are giving you a further head start by issuing a $10,000 cash-back when you build your first home with them.
That’s a total of $55,000 (plus savings from avoiding the obligatory LMI charges. What’s more is that your house will take time to build, giving you more time to focus on saving small amounts of money so you can pay this off quicker in the long term.
We are here to help you from start to finish and are specialists on the First Home Buyer journey. To see what other First Home Buyers think of us, head over to our 48 Google reviews and to book in a time with a member of the Ramsey Mortgage Advice team give us a call on 1300 001 215.

Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.