David stoked with first home, thanks to his mum and dad

The Sunday Telegraph (Sydney) - - REALESTATE -

FIRST home­buyer David Gan planned to take his par­ents out for din­ner last night after they helped him buy an apart­ment in Peter­sham yes­ter­day for $690,000.

“I’ve got to thank them,” the 22year-old ar­chi­tec­tural as­sis­tant, said.

As is the case with most young Syd­ney first home buy­ers, Gan said there was no way he’d have been able to buy the one-bed­room apart­ment at 22/40 Maria St with­out the fi­nan­cial sup­port of his mum, Julie, and fa­ther, Tony, who live in Strath­field. Sis­ter Dana, 20, will be get­ting one, too.

Bresic Whit­ney Glebe agents Wil- liam Pereira and Joseph Fer­reira had six bid­ders reg­is­ter for the stylish 69sqm unit, which also had a car spot.

Yet just two were ac­tive, Mrs Gan and an­other first home­buyer cou­ple.

Ini­tially auc­tion­eer Gavin Croft’s call for bids was met with si­lence, but when he sug­gested some­one of­fer $590,000, Mrs Gan was quick to com­ply. And then it was off, with bids quickly ris­ing in $10,000 in­cre­ments all the way to the sale price, with $40,000 above re­serve.

The Gans were over­joyed, but so, too, were ven­dors Ben Rim­mer, 34, a project man­ager with Rose Atkins Rim­mer, and his wife, Melissa Minetti, 32, an ad­min as­sis­tant and mum to Max, 10 months old. “We just need some­thing big­ger,” Mr Rim­mer said.

It had been Mr Rim­mer’s first home when he bought it off-the-plan for $530,000 in 2013. “We got the $15,000 first home­owner grant be­cause it was a new prop­erty and didn’t have to pay stamp duty ei­ther, so we saved about $35,000.”

The $690,000 sale price means Mr Gan gets a de­cent stamp duty dis­count be­cause it’s un­der the $800,000 thresh­old.

Mr Pereira said the $620,000 price guide — well un­der the $650,000 thresh­old for a stamp duty ex­emp­tion — had meant the prop­erty was pop­u­lar with first home buy­ers.

Pic­ture: Tim Hunter

Julie Gan and her son David after the auc­tion.

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