For virgin property investors, the first step is often the hardest. The sheer volume of unsorted information at your fingertips and the conflicting advice it often harbours stuns the novice investor like a deer in headlights. Never-buy-new versus First Home Owner Grant; people end up immobilised with fear and confusion with a growing list of unanswered questions. Is this the right next step for me? What are my options? What are the alternatives? Should I invest or use the First Home Owner Grant? And what even is the First Home Owner Grant?

Goose and Gabi return to shepherd their flock of investors safely to the greener pastures of property funding enlightenment, breaking it down into two pathways: investing without the First Home Owner Grant, or using the grant to build your investment strategy. Their compass? Budget.

Key Points:

• Beginner investors can be overwhelmed by the glut of information available
• Investing with, or without the First Owner Grant and using your budget to decide
• Struggling to get a deposit? Accelerate through investing
• Got capital for a deposit? Leverage the benefits of the First Home Owner Grant
• Don’t chase the rebate, only to get stuck with a liability
• First Home Owner Grant alongside stamp duty concessions can save money
• New vs old properties

Links:

• First Home Owner Grant scheme website: http://www.firsthome.gov.au/
• The Investor Lab Facebook: https://www.facebook.com/groups/theinvestorlab/
• Dashdot Buyers Agents Website: https://www.dashdot.com.au/

End quotes:

“To begin with the end in mind means to start with a clear understanding of your destination. It means to know where you’re going to better understand where you are now and so that the steps you take are always in the right direction.”

 

Steven Covey - 7 Habits of Highly Effective People

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