BUILD YOUR DEPOSIT
First-home buyers wanting to purchase a new home faster can do it more easily thanks to a new scheme by AVJennings.
In addition to the federal government’s move to let first-home buyers use super to boost their deposit savings, AVJennings has created a way to fast track buying a new home for first-time or entry-level purchasers.
AVJennings has introduced the ‘save while we build’ initiative, which lets first-home buyers save a deposit while their home is being built.
AVJennings Queensland general manager Tony Creighton said many first-home buyers weren’t aware they didn’t need to wait to save their full deposit before making a purchase.
“The federal government’s first home saver initiative will work hand-in-hand with AVJennings’ ‘save while we build’ offer,” Mr Creighton said. “Our scheme allows buyers to make an initial $1000 payment and we then work with them to create a savings plan to raise the balance of the deposit required while their new home is being built.”
From July 1, buyers will be able to deposit funds as extra voluntary contributions into their superannuation to get tax breaks and accelerate their savings. Buyers can even use the state government’s $20,000 first home owner grant, which will drop to $15,000 after June 30, as a starting point for their deposit.
Shane and Berenice Fortuin are two of the latest buyers to ‘save while we build’. They were among the first residents at AVJennings’ new Parkside community in Bethania, which has two and three-bedroom townhomes close to parks, schools, transport and a convenience shopping centre from $299,900.
“We saved approximately $300 per week over about a five-month period and, combined with the first home owner’s grant, we had enough for a deposit on our new home,” Mr Fortuin said. “We decided it was better value to save and purchase our own new home instead of renting an older home for around the same amount as our mortgage repayments.”
First-home buyers Shane and Berenice Fortuin, with son Ethan, 5, have bought a townhome in AVJennings’ new Parkside community in Bethania.