RCR Finance Bulletin # 20 - Friday, 14th November 2008
FIRST HOME BUYERS MASSIVE OPPORTUNITY
If you are, or know of, a potential First Home Buyer, or maybe you are the parent of a Gen Y (or even a Gen X er!!) who is working, earning a good income, but refuses to leave home.......there is a solution !
Thanks to the Federal Governments boost to the First Home Owner Grant, there exists FOR A LIMITED TIME ONLY the opportunity to get yourself, your friends, or your adult children to move out and into your / their own home.
Here are some basic examples of "where the money comes from", and "where the money goes to" assuming a $350,000 purchase price...............
Build New Residence
$200,000 Land Price
plus $150,000 Construction Price
plus $ 7,000 Government Charges (est)
plus $ 13,000 Bank / Mortgage Insurance / Solicitors Fees (est)
$370,000 TOTAL COST TO BUY
less $350,000 100% Home Loan
less $ 26,000 First Home Owner Grant
$ 6,000 SURPLUS LEFT OVER FOR FURNITURE / CURTAINS / WHATEVER
Purchase Established Residence
$350,000 Established House Purchase Price
plus $ 15,000 Government Charges (est)
plus $ 13,000 Bank / Mortgage Insurance / Solicitors Fees (est)
$378,000 TOTAL COST TO BUY
less $350,000 100% Home Loan
less $ 26,000 First Home Owner Grant
$ 2,000 YOUR CONTRIBUTION / SAVINGS
What this means is that assuming the lenders criteria is met, then home ownership is somewhat of a distinct possibility, even for those with limited or no savings........I must stress however that this opportunity has a limited timeframe to 30/6/09.
Please feel free to call me to discuss, or alternatively, pass this email on to anyone who you feel may benefit from our advice and service.
