First Home Buyers
Buying here is smart living
Brompton Townhomes cover all the essentials; architectural design, a prime location, and the financial benefits that come with buying new. Eligible buyers can take advantage of stamp duty concessions and the First Home Owner Grant (FHOG) making your new home at Brompton an even smarter investment.
Find out more about each of these schemes below.
In Victoria, the First Home Owner Grant (FHOG) is a $10,000 one-off payment to assist first-time homebuyers in purchasing or building a new home, with the contract price (or cost of construction) being $750,000 or less.
For further information sro.vic.gov.au
The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme (HGS), an Australian Government initiative to support eligible home buyers to buy a home sooner. Under the FHBG, part of an eligible home buyer’s home loan from a Participating Lender is guaranteed by Housing Australia. This enables an eligible home buyer to buy a home with as little as 5% deposit without paying Lenders Mortgage Insurance.
For further information housingaustralia.gov.au
The Victorian State Government offers a stamp duty exemption for first home buyers purchasing properties valued up to $600,000, with a concessional rate for homes priced between $600,001 and $750,000. To qualify, buyers must be first-time homeowners, meet residency requirements, and apply through the State Revenue Office (SRO).
For further information sro.vic.gov.au
Meet Sophia
Sophia met the eligibility criteria for the FHOG, FHB Stamp Duty
exemption and the Federal Home Guarantee Scheme and purchased
a 2-bed townhouse at Brompton.
Instead of paying:
House price: $560,000
Stamp duty: $9,790
Equity required to pay stamp duty and 20% deposit to avoid
mortgage insurance: $121,790
Sophia paid:
House price: $560,000
Less $10k FHOG: $550,000
Stamp Duty: $0
Equity required to avoid mortgage insurance: $27,500
Difference in equity required: $94,290*
Meet Emily & Nick
Emily & Nick met the eligibility criteria for the FHOG, FHB Stamp Duty exemption and the Federal Home Guarantee Scheme and purchased a 3-bed townhouse at Brompton.
Instead of paying:
House price: $570,000
Stamp duty: $4,570
Equity required to pay stamp duty and 20% deposit to avoid
mortgage insurance: $118,570
Emily and Nick paid:
House price: $570,000
Less $10k FHOG: $560,000
Stamp Duty: $0
Equity required to avoid mortgage insurance: $28,000
Difference in equity required: $90,570*
Meet Arlo & family
Arlo & family met the eligibility criteria for the FHOG, FHB Stamp Duty exemption and the Federal Home Guarantee Scheme and purchased a 4-bed townhouse at Brompton.
Instead of paying:
House price: $640,000
Stamp duty: $6,670
Equity required to pay stamp duty and 20% deposit to avoid
mortgage insurance: $134,670
Arlo & family paid:
House price: $640,000
Less $10k FHOG: $630,000
Stamp Duty: $0
Equity required to avoid mortgage insurance: $31,500
Difference in equity required: $103,170*
