Guest hazel and dave Posted July 21, 2008 Share Posted July 21, 2008 Hi All, We are flying over at the end of this week with intention of looking at property in Victoria..ULP! BIG step. We can afford a mortgage of about AU$300K, but we were wondering what the stamp duty would be on that kind of amount. We know we get the FHOG (about $7000????), but we were wondering if there were any stamp duty concessions too - probably wishful thinking we know, but hey! it never hurts to try! Link to comment Share on other sites More sharing options...
emmaroo Posted July 21, 2008 Share Posted July 21, 2008 Hi All,We are flying over at the end of this week with intention of looking at property in Victoria..ULP! BIG step. We can afford a mortgage of about AU$300K, but we were wondering what the stamp duty would be on that kind of amount. We know we get the FHOG (about $7000????), but we were wondering if there were any stamp duty concessions too - probably wishful thinking we know, but hey! it never hurts to try! HI You don't pay stamp duty on property under $500K. There is also a first time buyers grant that you will be entitled to. Hope this helps! Link to comment Share on other sites More sharing options...
Guest hazel and dave Posted July 21, 2008 Share Posted July 21, 2008 Helps????? That's bloomin' marvellous!!! Means we may actually be able to afford some furniture as well as a house! Thank you very much. Link to comment Share on other sites More sharing options...
Guest Curlysoo Posted July 21, 2008 Share Posted July 21, 2008 Helps????? That's bloomin' marvellous!!! Means we may actually be able to afford some furniture as well as a house! Thank you very much. LOL! :spinny: ..have a safe flight over ...and enjoy "shopping" for your new home! I LOVE the way the ozzies have a whole street of show homes by diferent builders on a new housing developement ...AND I love the prices even more! :yes: Link to comment Share on other sites More sharing options...
Guest Pinhead Posted July 21, 2008 Share Posted July 21, 2008 HI You don't pay stamp duty on property under $500K. There is also a first time buyers grant that you will be entitled to. Hope this helps! That's not true, you do pay stamp duty under $500K even if it's your first property you just get assistance from the governments. Use this link to work out the costs Commonwealth Bank Group - Personal - Tools and Calculators 'Total home buying costs' Stamp duty on $300K first purchase in VIC is $13,660 + transfer registration $854 total $14,514. Homebuyer grants currently available = $12,000 ($7,000 Fed, $5,000 VIC) so you'd still pay $2,514. Link to comment Share on other sites More sharing options...
emmaroo Posted July 21, 2008 Share Posted July 21, 2008 That's not true, you do pay stamp duty under $500K even if it's your first property you just get assistance from the governments. Use this link to work out the costs Commonwealth Bank Group - Personal - Tools and Calculators 'Total home buying costs' Stamp duty on $300K first purchase in VIC is $13,660 + transfer registration $854 total $14,514. Homebuyer grants currently available = $12,000 ($7,000 Fed, $5,000 VIC) so you'd still pay $2,514. Must differ from state to state then as my father is a Financial Consultant and has been arranging mortgates in WA for 16yrs and has advised me many times about stamp duty not being payable on property under $500k. Link to comment Share on other sites More sharing options...
Guest Pinhead Posted July 21, 2008 Share Posted July 21, 2008 It does Stamp Duty in VIC is very high compared to other states. Link to comment Share on other sites More sharing options...
minlady Posted July 21, 2008 Share Posted July 21, 2008 Must differ from state to state then as my father is a Financial Consultant and has been arranging mortgates in WA for 16yrs and has advised me many times about stamp duty not being payable on property under $500k. Yep i agree it must differ depending on which state you are in.. we are in the process of buying a property in WA and have been told we only pay if the property is over $500k... anything below it is free... Have fun spending your money which ever way you do!!!... min x:wubclub: Link to comment Share on other sites More sharing options...
Mongrel Posted July 21, 2008 Share Posted July 21, 2008 Yep i agree it must differ depending on which state you are in.. we are in the process of buying a property in WA and have been told we only pay if the property is over $500k... anything below it is free... Have fun spending your money which ever way you do!!!... min x:wubclub: Yes you are right but I think you pay on huse and land packages been foraging around the sites and calculators, Dont know how many viewings we had yesterdaY on open day Malx aka Billy 5M Link to comment Share on other sites More sharing options...
Guest hazel and dave Posted July 21, 2008 Share Posted July 21, 2008 Shucks, looks like we are back to shopping in the charity stores...there goes my delusions of grandeur and a freshly furnished pad out the window! But, thanks (esp Pinhead) is better to be clued up before we purchase and we can factor that in. On that note, does anyone have an idea roughly how much ew should budget for a survey and if so, do they have the vast array we do here or is it more one size fits all approach? Obviously I'm hoping for the latter as my brain is feeling fit to bursting with all this new info. Link to comment Share on other sites More sharing options...
Guest Pinhead Posted July 21, 2008 Share Posted July 21, 2008 Shucks, looks like we are back to shopping in the charity stores...there goes my delusions of grandeur and a freshly furnished pad out the window! But, thanks (esp Pinhead) is better to be clued up before we purchase and we can factor that in. On that note, does anyone have an idea roughly how much ew should budget for a survey and if so, do they have the vast array we do here or is it more one size fits all approach? Obviously I'm hoping for the latter as my brain is feeling fit to bursting with all this new info. Do you mean conveyancing work (ie surveys /legal work etc)? I paid $1,100 (inc GST) for my conveyancing work on an investment apartment I bought 2 years ago. If you need a conveyancer in Melbourne drop me a pm & I'll send you details of the excellent one I used. Link to comment Share on other sites More sharing options...
Mike@Bonbeach Posted July 22, 2008 Share Posted July 22, 2008 Hi H and D If you buy a new house you will also get a $5000 bonus on top of the FHOG. (Victoria). Mike Link to comment Share on other sites More sharing options...
Guest Brickie Posted July 22, 2008 Share Posted July 22, 2008 Start saving......:err: Stamp Duty Calculator Link to comment Share on other sites More sharing options...
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