Is ‘Buy a house’ on your 2025 To-Do list? The Australian government has just mad Show Content
Is ‘Buy a house’ on your 2025 To-Do list? The Australian government has just made it that much easier for buyers to get into the market with the announcement of their ‘Help to Buy’ scheme 🙌
It essentially means that participants will be able to ‘co-purchase’ a home with the government 🤝đźŹ
The federal government will give buyers an “equity contribution” of up to 40% of the cost of a new build or 30% for existing homes. Buyers need to pay the mortgage on their share of the property but don’t need to pay rent on the government’s share.
The even better news for those looking to get back into the market is that this scheme is not just for first-home buyers! 🥳 So long as you don’t currently own property, you may be eligible (subject to income limits, etc).
Now, unfortunately, whilst the legislation has been passed in federal parliament, there is still some red tape to go in WA before you can actually apply for this scheme. But we’re waiting with bated breath and will keep you posted as updates come to hand!
Here’s hoping thousands more Western Australians will be in their own home by the end of 2025 thanks to this latest initiative 🤞