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How the Victorian Budget 2020, may help you purchase land at The Patch

The recent Victorian Budget has plenty for homebuyers at The Patch, Wollert with major stamp duty discounts, rebates, and funding schemes.

To help you navigate these initiatives, here’s a guide of the incentives you may be eligible for:

Tax Relief on Stamp Duty

The government will waive stamp duty by 50% for new residential properties up to the value of $1 million. This massive saving is double the waiver for existing residential properties and could provide you savings of up to $27,500* on contracts entered before 30 June 2021.

The Victorian Homebuyer Fund

A $500 million Victorian Homebuyer Fund will offer support to first home buyers. The fund will contribute to the purchase price in exchange for a proportionate equity interest in the property. This will reduce the deposit required and will help make first homes more affordable.

Extra Solar Rebates

Take advantage of the benefits of solar with funds set aside to deliver an extra 42,000 home solar rebates and batteries. If you’re looking to integrate solar into your new home, this is a great incentive for greener living. Plus, you may be able to save on your electricity bill!

The budget also outlines a number of key infrastructure projects and road network upgrades, that may benefit residents at The Patch.

The Victorian Budget 2020 coupled with the recent increase in places in the Federal Governments’ First Home Loan Deposit Scheme and First Home Owner Grant has plenty of options to support you in purchasing a property.

To book a 1:1 consultation with Matt to discuss these opportunities and land available at The Patch, click here to book an appointment.

Resources:

2020-2021 State Budget Overview

Solar Application Process

State Revenue Office


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