So many factors come into the equation when looking for a home. Suburbs, house types, amenities, price ranges, schools, nightlife, space and surroundings are all considerations in the great house-hunt, so we caught up with four home buyers at different stages of life to ask about their purchases, and what influenced their decision.
Ed Timovic – early 20s, single, apartment in Turner
Ed is 23 years old. His most prized possessions are his Oktoberfest stein from Munich, his Bent Spoke membership and his Toyota Hilux. Needless to say, Ed’s the party boy in his family, is currently “in between girlfriends”, and wanted to move out of home to be closer to the action. He’s worked full-time as a carpenter since his late teens in his uncle’s construction company, and to his credit, he’s worked incredibly hard to get himself into the financial position he’s in (even if a fair chunk of his income has been funnelled into Bent Spoke’s running costs). Continue reading
The sun rises in the east, Cersei Lannister is straight up bad news and, in other shocking revelations, housing affordability is still making headlines down under. This time, though, it’s for the right reasons. Our friends over the border in NSW have finally received the memo and decided to actively make it easier for First Home Buyers to enter the market.
The ACT already effectively scrapped stamp duty for First Home Buyers, opting instead for a nominal fee of $20. It is with a heavy sense of regret, though, that we admit defeat (by a whole $20).
The NSW government have ditched stamp duty altogether for First Home Buyers on all homes up to $650,000, and introduced discounts for stamp duty on homes up to $800,000. They’ve also increased the surcharge on stamp duty for foreign investors and removed deferred stamp duty payments in a bid to cool the market for entry-level buyers.
But what are we talking in terms of raw dollars with the new legislation? With the market in Canberra continuing to flourish with an ever-increasing population, the median house price is now almost $200,000 more than Queanbeyan’s average of $527,000.