Now that first home buyers don’t need to pay stamp duties up to $650,000 in NSW (new or existing property), and a sliding reduction of stamp duties from $650,001-800,000 – this is a guide on deposits needed:
- Purchase Price: $400,000 / Deposit: $20,000
- Purchase Price: $450,000 / Deposit: $22,500
- Purchase Price: $500,000 / Deposit: $25,000
- Purchase Price: $550,000 / Deposit: $27,500
- Purchase Price: $600,000 / Deposit: $30,000
- Purchase Price: $650,000 / Deposit: $32,500
Keep in mind, that you will need to add approximately $2000 for legal fees and government charges.
Please call Shannon 0417 131 057 to discuss your deposit and to see if you qualify for a mortgage