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FIRST HOME BUYERS

FIRST HOME BUYER GRANTS

Tempo Living takes the stress and guesswork out of home building for first home buyers. We have an easy eight-step building process that is straightforward. Our preconstruction process is streamlined, and our expertly curated interior and exterior colour selections mean you don’t spend hours travelling to different appointments trying to figure out how to make your interior look work. We have done all the hard work for you. Our award-winning home designs were created with families in mind, so there’s plenty of room to grow.

From the First Home Buyer’s Grant to the new First Home Buyer Choice Scheme, there are a range of first home buyer grants and concessions available in NSW. You’ll find a rundown of the what’s available below. If you have any questions, visit one of our display homes and chat to our friendly sales consultants.

Who qualifies as a first home buyer?

To qualify as a first home buyer, you must be an Australian citizen or a permanent resident of Australia, and at least 18 years old. You must be purchasing the first home you or your spouse have owned or co-owned in Australia, and must move into the property within 12 months. You must live there for at least six continuous months. You’ll need to be able to provide a range of identity documents to apply.

YOUR ESSENTIAL CHECKLIST: A DEFINITIVE GUIDE FOR FIRST HOME BUYERS

Embarking on the journey of purchasing your first home is an exciting and significant step towards building your future. However, the path to homeownership can sometimes be complex and overwhelming. This is where a well-structured checklist for first home buyers becomes an invaluable tool.
A first home buyer’s checklist serves as a compass, guiding you through the entire process with clarity and confidence. It breaks down the multifaceted process of buying a home into manageable steps, ensuring that no essential detail is overlooked. From setting a budget and securing financing to researching neighborhoods and attending open houses, the checklist acts as a roadmap, helping you stay organized and informed.

First Home Buyer Checklist

FIRST HOME OWNER ASSISTANCE SCHEME

What  you can get:

  • Full or partial exemption on stamp duty, which is now called transfer duty.

Eligibility requirements:

  • Buying your first home in Australia
  • Its value is no more than $1,000,000
  • Find out about more requirements

More help:

Sydney building testimonial for Tempo Living Homes
Sydney building testimonial at home handover for Tempo Living Homes

FIRST HOME OWNER GRANT (NEW HOME)

What you can get:

Eligibility requirements:

    • Buying or building your first home
    • It’s a new home that no-one has lived in before
    • The property value is no more than $750,000. (Please note: this is the value of the house and land combined).
    • Find out about more requirements

FIRST HOME BUYER CHOICE SCHEME
(Available from January, 2023)

What  you can get:

  • From 2023, the choice of either making the transfer duty payment upfront, or opting in to an annual property tax to save you forking out a chunk of cash at purchase time. The annual property tax will be $400, plus 0.3 per cent of the land value of the property.

More information:

  • The annual property tax payment option will be available for properties of up to $1.5 million in value.
  • Legislation to establish the property tax will be introduced in the second half of 2022.  Eligible first home buyers can opt into the property tax from January 16, 2023.
  • First home buyers who exchange contracts between the enactment of the legislation and January 15 will be able to opt-in and receive a refund on any stamp duty already paid.
Sydney building testimonial at client handover for Tempo Living Homes

FAQs

Do first home buyers pay stamp duty in NSW?

As a first home buyer, you may be eligible for a full or partial exemption from paying transfer duty (which is what stamp duty is now called). There are requirements you will need to meet in order to qualify.

What is stamp duty cost for first home owners in NSW?

Stamp duty is now called transfer duty. You will not pay transfer duty if your land is valued at less than $350,000. If your land is valued between $350,000 and $450,000, you’ll receive a concessional rate.

How do I apply for the First home Owner Grant?

You can apply for the First Home Owner Grant (New Homes) through your financial institution when you are organising your finance. You will need to complete the First Home Owner Grant (New Homes) Application form.

You application must be lodged within 12 months of completed construction date of your new home.

 

What steps should I take if I am interested in a house and land package / building?

Before signing any paperwork, best idea is to speak to a broker and get preapproval to understand how much you can borrow. This will determine what house and land packages would be within your budget. Once you know how much you can borrow, speak to our Sales Team to assist you with options.

What’s included in a standard building contract?

A standard building contract with Tempo Living includes our Elite Essentials Inclusions.

These are the inclusions that will come with your home, and they include everything from floor coverings to fixtures and fittings, driveaway, BASIX requirements and more.

Is the House & Land package one contract?

No, house and land packages usually have two separate contracts. The building contract would be with Tempo Living, and the land contract would be with the developer.

When do I select my internal and external colours?

Selections can be completed at sales stage. We have four curated interior and exterior colour selections to choose from, and we call them our Designer Selections.  Choosing your colour scheme at sales stage means you have access to a few complimentary items.

You can do colour selections with our interior designer, however these meetings will incur an additional fee.

Do I need to take off time if I do decide to upgrade to have Interior design meetings?

Yes, this will require you to take some time off during weekdays to complete the design meetings.

Do I need an appointment to visit the Display Homes?

No, you don’t need to make an appointment, but we recommend checking to see that our display homes are open before visiting. If you need to visit mid week, you will need to make an appointment.

Do I need to do an electrical appointment?

Is a driveway included?

Yes, a concrete driveway is included.

Is landscaping included?

No, landscaping is not included.

Do I qualify for the 10-10-20 Guarantee if my land is unregistered?

No. The 10-10-20 Guarantee is only applicable to registered land.

What is a Post Contract Variation?

A post contract variation is a variation made after you have signed your contract. These may incur an administration fee. This still forms part of your contract however is a change made after you have already signed the contract.

What is a DA Application?

A DA Application (Development Application) is a request we put through to your local council area, for approval. We need the council’s approval to proceed with the build. They look at the design, guidelines for local areas and notify neighbours on the upcoming development. Approval time varies depending on your local council area.

What does CC mean?

CC is an abbreviated term for Construction Certificate which is obtained after we have received DA approval from council. A CC is a certificate we receive off our nominated building Certifier, this certificate allows us to begin construction works. The certifier will review all our documentation including our DA Approval, they review all certificates of compliance before allowing us to commence construction.

What does CDC mean?

Complying Development Certificate is another form of Development Approval. CDC Approval is completed through a Building Certifier and grants us the same approval as the local council. We will choose the path of CDC dependent on a few factors involved with your build.

Can I make changes to my plan?

You can make minor changes to your floor plan at sales stage, this will be at an additional fee depending on the type of changes. Beyond your Tender/ Contract signing you can no longer make any plan changes. Please remember that our designs have been created thoughtfully and if you change a plan, this could impact other things such as structural engineers and BASIX requirements, which could result in additional costs.

Do I need a solicitor?

Yes, you should have a solicitor to review and assist you with signing your land contract. If your land is unregistered, they will also be able to assist you with following up on updated from the vendors solicitor.

Take the next steps: find a home design, browse House & Land packages, and visit our display homes

Need some help? Talk to one of our sales consultants!

The preceding information has been sourced from sources that Tempo Living believe to be reliable and accurate and is given in good faith. However, Tempo Living has not been able to verify all the information and the information may not be complete or accurate for individual circumstances. This information is of a general nature only. Tempo Living gives no warranty as to its correctness, accuracy or suitability for individual circumstances and any person using the information on this website is recommended to conduct their own investigations to verify the validity of any claims made herein. Tempo Living, its directors, staff, agents and representatives bear no responsibility to any company or person who relies upon the information contained in this website. Information Valid as of June 2022.

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