Buying a new home is always a challenge. Everybody wants to have his own home because it gives relaxation & mental peace to mind. Australia is a beautiful country. It is home to the most amazing natural resources you could imagine. In addition, the culture in Australia is very interesting. From performance art to literature to western culture, Australia has it all. This is why most people opt to live in there. |
Owning a home in Australia is not so easy. If you are going to buy a house in Australia for the first time, you are eligible for the First Home Owner Grant. The First Home Owner Grant (FHOG) Scheme is a one-off grant, payable to you as a first-time homebuyer if you want to "purchase" or "build" a new residential property to live in and is a national scheme funded by each state and mainland territory, and is administered under his or her own legislation. This is a grant totaling $7,000 that goes directly to the buyer of the house.
Purchase policy is different for citizen & non-citizen. Non-citizen buyers cannot apply for a general residence purchase. Non-Australian citizens or residents who purchase a residence without government approval must cancel their contract if possible. A tax is required of all people buying a home in Australia. The tax is called the Stamp Duty and its amount will differ depending upon many variables such as the price of the home or its location. A mortgage agent should be able to give you an accurate estimate of how much Stamp Duty tax you will have to pay.
If your stay at Australia is less than a year, you are not permitted to buy an existing house in the country. The person living more than 12 months can be granted permission to purchase an existing property with approval from the Foreign Investment Review Board. If you want to purchase your own home in Australia but do not know more about rules and bond, a mortgage broker can guide you to find the best deal. There are many lenders who can help you with qualifying for a mortgage. These lenders can help you qualify for home equity loans, refinancing, and new home financing and debt consolidation loans. Once you have everything finished, you will meet with a mortgage broker and choose the mortgage loan. This entire process could take one to two months. Then agent will calculate figure out the whole expense accurately.
YEG Finance is a well company of Australia that deals in mortgage services. If you want to know more about residential construction loans and buying a new home, please visit http://yegfinance.com.au/.
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