Is the Property I am Eyeing a "New Home"?

Discussion in 'Introductions' started by Liempo, 4th Mar, 2021.

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  1. Liempo

    Liempo New Member

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    Hi. I am keen on buying an apartment unit because I believe I may be eligible to claim for First Home Buyer Assistance scheme (FHBAS) for it. The the building itself has been built about 4 years ago but apparently this is the first time the developer is selling this particular unit. The agent said that we cannot guarantee that no one's lived in it i.e. the developer may have had their friends or family live in the unit. Does this qualify for a new home given the New Home definition of "A new home is a home that has not been previously occupied or sold as a place of residence and includes a substantially renovated home and a home built to replace demolished premises."

    Also, where can I get proof that this unit has never been on the market before and if anyone's lived in it.


    Thanks
     
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  2. wylie

    wylie Moderator Staff Member

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    I couldn't imagine a developer leaving a unit empty for four years. As him for something in writing that it has never been lived in? Then ask the FHBAS people will this mean you are eligible? And get their answer in writing.

    I'd also question the decision to buy something just for the sake of getting this cash.
     
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  3. Lindsay_W

    Lindsay_W Well-Known Member

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    The First Home Buyer Assistance Scheme doesn't require you to purchase 'brand new' so really it's irrelevant whether or not someone has lived in this before.
    It's essentially a stamp duty waiver for existing property purchase where it's your first property purchase.

    If you mean the first home owner grant that's a different thing altogether.
     
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  4. wylie

    wylie Moderator Staff Member

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    This bit sounds like it does matter if someone has lived in the house before.
     
  5. Liempo

    Liempo New Member

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    Sorry, I should clarify. The unit I am eyeing is priced at $800k and I can only get the stamp duty exemption if the property is brand new (stamp duty exemption / concession fees for existing homes is for ones priced at $650k to below $800k)
     
  6. Lindsay_W

    Lindsay_W Well-Known Member

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    You really need to confirm if someone has lived in it before, the agent should be able to simply ask the seller this.
    Given that it's 4 years old, I'd say chances are high that someone has lived there.
    Would you buy this place even if you couldn't get the concession?