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Build your dream home & save on government
charges
By building rather than buying an established home, you can
make considerable savings on your purchase costs.
For
example:
If you build a home for $90,000 on a block of land costing
$50,000, the amount of stamp duty payable on the purchase
would be $1,222.
If you are a first home buyer your cost would be $142.
However, if you buy an established home for $140,000, your
stamp duty cost on the purchase price would be $4,977 with
no concession for being a first home buyer.
(*
This example has been calculated with stamp duty rate current
as at June 2000)
If
you are building for investment purposes you may be able to
achieve considerable tax benefits.
The
following documentation will be required to accompany an application
for a build loan:-
Copy of the land and building contract
Council
approved plans & specifications
Engineers
soil & footing report
Building
schedule
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