Recently, the government of New South Wales proposed to offer first home buyers an interesting choice to help them get into the property market sooner.
Homebuyers can opt to choose between a large amount of stamp duty or...
An annual land tax of a much smaller amount.
Now, what are the implications of each option?
In today's episode, we are going to weigh the pros and cons between saving up another 5% or so on top of your deposit for stamp duty OR committing to an annual land tax bill of a much smaller amount.
We also discuss the possibilities of other states following suit, the qualifications to be considered for this offer, and how both stamp duty and land tax are calculated.
If you enjoy the show, do like, rate, subscribe, and share it with others! We have loads of resources available and if you'd like to chat, email us at [email protected]!
We'll see you on the inside!
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.
