The suggested $50,000 Government Deposit, will it help you?
There was a suggestion this week that the Government should give first homes
$ 50,000 as a head start, will this help you?
I recall back in GFC 1 ,2008 when the Rudd Government handed out $ 32,000 to First Home Buyers to boost the economy and get the housing industry back on its feet after the GFC collapse. This pushed prices up by about $ 30k on every new home and most of it went to the builders and land developers as extra margin.
Currently it is the best time to buy a new home during COVID 19 . Prices are low and builders and developers are willing to do business and give you incentives to buy. Once those incentives are lifted due to having thousands of buyers at their doorstep, why would they need to continue the incentives? They won't give you any discounts or benefits when there are thousands of buyers wanting to buy a new home?
From our experience, prices will only go up due to any Government assisted deposit. if your thinking about buying a home, now is the time, if you don't have the full deposit
but saved up some money perhaps $ 10k or you can get your hands on a small start, enquire with us right now and see if we can help you. apply on www.mumndad.com.au