THE BENEFITS OF BUYING BRAND NEW
There’s a lot to consider when deciding whether to buy a brand-new apartment or an older style unit, including everything from government grants and stamp duty concessions to the amenities available for residents.
We’ve compiled a handy guide of the benefits to buying a brand new apartment to help you on your new home journey.
Eligible first home buyers can currently apply to get $10,000 towards buying a brand-new apartment through Victoria’s First Home Owners’ Grant (FHOG).
The value of the completed Live City apartment you buy must be $750,000 or less under the rules of the grant, which is not available to those buying established apartments more than five years old. Be sure to check your eligibility.
Live City currently has a range of one and two bedroom apartments available with prices starting at only $350,000.
There’s never been a better time for first home buyers to consider a brand-new apartment!
Stamp Duty Exemption or Concession
Another great advantage applicable to first home buyers in Victoria is the opportunity to claim a stamp duty exemption or concession on the purchase of your brand new Live City apartment.
A stamp duty exemption is available to you if you buy a new Live City apartment with a dutiable value of $600,000 or less.
The First home buyer duty concession is applicable when your new home has a dutiable value of $600,000 to $750,000.
The concession saving depends on the dutiable value of the apartment you are purchasing and applies on a sliding scale. Find examples of first home buyer duty concession amounts click here.
All the amenity you’ll need
Have you considered the great resident amenities on offer at new apartment projects such as Live City?
It only very recently that apartment developers have started adding such amazing resident only features and the scale of Live City means there is even more exclusive facilities at your fingertips.
Exclusive Live City amenities will include an upper podium level where residents can relax in the sky.
Everything is brand new!
The very best thing about buying an apartment at Live City is that everything is brand spanking new!
New apartments are built to higher specification than most older properties which means you will enjoy the latest appliances, fixtures and fittings, bench tops, lights, floor coverings and even door handles. The features that come standard in a new apartment would only be achieved by renovating and older unit.
All the appliances in your Live City apartment will be under warranty so if something goes wrong in first year or two, it won’t cost you anything.
Low maintenance living
If you would prefer to spend all your spare time relaxing and enjoying inner city living, then a brand-new apartment is the perfect choice.
The newer your home, the less maintenance and repairs it is likely to need. If you are considering renovating an older apartment, remember that this can be a very expensive exercise and you will always be compromising to suit the existing layout.
If the established unit you buy has previously been a rental property, it is also possible that previous owners were not as diligent when attending to repairs and maintenance.
Save on energy and water
Electricity and water charges are expensive so it pays to do whatever you can to minimise energy and water use in your home.
New apartment buildings such as Live City come with the latest energy saving appliances, lighting and air conditioning to keep your bills lower. Water usage is reduced due to the latest water efficient taps.
With opportunities to secure a new apartment in Live City limited, don’t miss your chance for an exciting lifestyle change. Enquire now.