The True Cost of First Home Buyer Incentives

We all know there's no such thing as money for nothing, so what is the true cost of first home buyer incentives?

In this episode we're going to talk about free money - the type first home buyers get from governments - deposit schemes, stamp duty concessions, cash incentives as well as discounts from developers - all the things that are apparently designed to help first home buyers get on the property ladder. But are they really there to help you?

Tune in to the episode and we'll see you on the inside!

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Episode Highlights:

1. Looking into federal government incentives [02:49]
• First Home Owner Grant (FHOG) [02:54]
• The BuildBonus Grant [06:42]
• Deposit Guarantee scheme [08:11]
2. What are some State-based incentives? [12:35]
• The role of stamp duty concessions [12:40]
• Why incentives skew towards brand new and offline properties [14:05]
• Budget limits create artificial price barriers [20:16]
3. Savings accelerator: The first home super saver scheme [23:47]
4. Interesting things about federal and state incentives [26:41]
5. How do cashback incentives work? [29:13]
6. Understanding the real incentive of government grants [33:46]

Links from the Show:

• M2 L2 Grants & Incentives - PDF
• Our blog on grants & incentives

If you enjoyed today's podcast, don't forget to subscribe, rate and share the show! There's more to come, so we hope to have you along with us on this journey!

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Co-Founders

Veronica Morgan & Meighan Wells

Veronica & Meighan are both licensed real estate agents who exclusively help buyers. Together they have nearly 40 years experience as property professionals.

Veronica is principal of Sydney based Good Deeds Property Buyers and is also co-host of The Elephant in the Room property podcast as well as Location Location Location Australia on Foxtel and author of Auction Ready: how to buy property at auction even though you're scared s#!tless!

Meighan is the multi award winning principal of Brisbane based Property Pursuit, chairperson of the REIQ Buyers Agent Chapter & a regular media commentator.