FIRST HOMEBUYER GUIDE

Refer to the NSW Government’s online calculator to find out how much you can save. If you are already in a position to buy your first home, make sure you give your solicitor your

completed First Home Buyers Assistance Scheme Form so as not to miss out.

The First Home Super Saver Scheme (FHSSS) is another government incentive that allows First Home Buyers access to release funds from their Super account in order to purchase their first home. A First Home Buyer can release up to $30,000 of super. To be eligible to have funds

released you must; be over 18, intend to purchase a home within 12 months of having the funds released, and intend to reside in the property for at least six months.

Lenders Mortgage Insurance (LMI) is insurance taken out by a lender to cover loss arising from default by a mortgagor. Currently, insurance duty on lenders mortgage insurance is imposed at a rate of 9% of the premium, however with the removal of this duty for home

buyers, it will save you money if you need lenders mortgage insurance.

For more information regarding benefits visit www.firsthome.gov.au

1.CURRENT GOVERNMENT

INCENTIVESTHIS GUIDE WILL EXPLAIN THE HOME BUYING PROCESS SO YOU CAN ENTER THE MARKET WITH CONFIDENCE & GET ON WITH YOUR VERY FIRST HOME BUYING JOURNEY

There are a range of ways to receive assistance in achieving your first home goal!

In NSW, the First Home Owner Grant (FHOG) scheme is designed to assist eligible first homeowners to purchase their first new home with a $10,000 grant. The grant is available to

buyers of new properties worth up to $600,000, while stamp duty is waived for all new and existing homes valued up to $650,000 and with stamp duty on properties above $650,000

reduced on a sliding scale.

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3.WHAT IS YOUR BUDGET?

4.WHO CAN HELP YOU WITH THIS PROCESS?The team at ESQ have hand selected some of the best in the business to help

make purchasing your first home an easier process. Below is a go to list of everyone you’ll need to speak to;

Your bank or lending institution should be able to determine how much you are able to borrow based on your annual income and deposit amount. Working towards

a 10% or 20% deposit will save you money over time. Shop around for a home loan that best suits you. Whether you are better off with a fixed or variable rate home

loan depends on your lifestyle, with small variations in interest rates able to make a big difference in your monthly repayments. So do your homework!

Many small and independent banks offer excellent home loans with lower fees and useful features. Websites such as finder.com.au and ratecity.com.au are a great tool

for comparing features, fees and loans.

Start tracking your monthly expenses and earnings to save your deposit in an efficient way. Create a budget that incorporates the future mortgage and current

lifestyle. Consider opening a high interest savings account and become niftier with your spending habits. Simple tweaks to your daily return, including bringing your

lunch to work, cutting down your takeaway coffees or working out in nature, can save you over $5,000 per year.

2.WHY CHOOSE EAST SIDE QUARTER?East Side Quarter (ESQ), a new home, neighbourhood and globally inspired

destination. Experience lakeside living and leisure that’s the first of its kind in Sydney’s booming west. ESQ is Penrith’s most visionary and bold new precinct.

An all-encompassing lifestyle and residential quarter that will excite, involve and engage on multiple levels. For lovers of river walks, café culture, doorstep amenity

and world-class design, ESQ marks a new milestone in this river city’s inspiring journey.

ESQ is an opportunity to create something remarkable. An international standard, $500 million urban lifestyle village on the doorstep of Penrith Panthers’ Entertainment Precinct. Leading architect and visionary landscaper are creating

transformational places and spaces of type and scale never before seen, stunning new apartment offer benchmark design and postcard views.

At the foothills of the Blue Mountains, lakefront dining, village retails, landscaped boulevards, running tracks and nature walks shape a landmark destination.

ESQ Sales Team:

Andrew Highland m: 0410 681 773 e: andrew@esqpenrith.com.au

Thomas Latty m: 0452 230 480 e: thomas@esqpenrith.com.au

Mortgage Brokers:

Dave Seagar – Principal Seagar Financial Services m: 0411 107 776 e: enquiries@seagarfinance.com.au

Matthew Townley-Jones – Broker Educated Finance p: 1300 338 228 e: matthew@educated.com.au

Solicitors:

Daniel McKinnon – Conveyancer Complete Legal & Conveyancing p: 1300 266 529 e: daniel@completelaw.com.au

Brent Jones – Conveyancer Lamrocks Solicitors Penrith p: 4731 5688 e: brent@lamrocks.com.au

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The process of exchanging a contract can sometimes be quite an intimidating period of your first home buying journey, however it is actually a seamless process.

You will need to complete legal paperwork when purchasing your first home and a solicitor will assist with the legal processes and act your behalf, so be sure to

compare the different services and solicitor fees.

The major step in the purchase of buying a home is the exchange of the written contract between yourself and the seller. Ask the real estate agent for a copy of the contract and have your solicitor review everything before you sign anything.

5.EXCHANGING A CONTRACT

After all your hard work and the completion of the new apartment development it’s time to move in! If you’ve bought an off-the-plan property, you’ll be contacted

for a pre-settlement inspection and notified of the settlement once:

• The building is completed,

• A Certificate of Occupancy is issued, and

• The titles are registered.

Then the key to your brand new property is all yours! Congratulations!

6.MOVE IN

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NEPEAN RIVER

WESTFIELD NEPEAN SQUARE

NEPEAN HOSPITAL

PENRITH STATION

JAMISON PARK

PANTHERS STADIUM

WESTERN SYDNEY AIRPORT

PANTHERS WORLD OF ENTERTAINMENT

WESTERN SYDNEY UNIVERSITY

Disclaimer: East Side Quarter does not guarantee, warrant or represent that the information contained in this advertising and marketing document is current, accurate, reliable or complete. You should make your own enquiries, including obtaining independent professional advice to determine your personal circumstances. Alternatively, we may refer you to any owner of any property we represent for

you to conduct your own enquiries. We exclude all inferred or implied terms, conditions and warranties arising out of this document and any liability for loss or damage arising there from.

DISCOVER A VIBRANT NEIGHBOURHOOD

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