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Be prepared! First time buyers told to act now

By Staff Reporter
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First time buyers need to ensure that they are well prepared when incentives are announced.

Those awaiting government incentives for October 1 this year need to do the research and capitalise quickly when it comes around due to expected spikes in demand, said Australand NSW Residential Division’s general manager, Nigel Edgar.

Those in close proximity to Sydney CBD, for instance, are properties that savvy first time buyers are currently considering.

"First home buyers who are actively doing research and organising their finance now will be best positioned to enter the market come October.

“These buyers will enjoy first choice of a broad range of buying options," Mr Edgar said.

"With just over a month to go until the new grant kicks in we strongly encourage all first home buyers to do their homework, be well prepared and act fast."

From October 1, first time buyers who purchase or build a new home up to the value of $650,000 will receive a $15,000 grant.

Additional stamp duty cuts for first time buyers will also push the savings up to $35,000 on a $550,000 property.

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