Hi, I want to construct a hou

SA 5095

Jan 23, 2018

SA 5095

Jan 23, 2018

Hi, I want to construct a house. I already have the block of land in Adelaide, SA. The loan on the land is 167,000. I paid approx 12000 as a deposit for the land. The construction is going to cost me 420000 for a complete turn key house. So, if we combine the house and land loan that is outstanding, the total value comes up to 580000. I want to know if I am eligible for First Home Owners Grant (This is my first home in Australia). I want to borrow 95% of the amount with a low deposit. I can put in around 10-12,000 apart from the first home owners grant. Me and my wife together earn approx 145,000 per year before tax. Our total monthly repayment for the car and 2 bikes at the moment is $800 and we pay $1400 as monthly rent. We have a credit card which has a limit of $7000. No bad credit history or default in payment ever. Can someone please let me know if this sounds reasonable and what are my options?

Indra

1 year ago

Dear Abhishek, your property are over the First Home owners grant threshold in SA which is $575,000. If you would like to discuss further, we can help you to discuss your option. Please contact me on my page. I am happy to help. Best Regards Indra.

Beatrice

1 year ago

Hi Abhishek I’m located in the northern suburbs and would love to discuss options with you. Your position sounds reasonable however at a total of $580,000 for the house and land you are outside of the cut off of $575,000 for the first home owners grant but happy to discuss your position and best options . If you would like to contact me please have a look at my profile.

Nolan

1 year ago

Hi Abhishek, This does sound reasonable, but we would need to have a closer look. At present you are over the First Home owners grant threshold which is $575000.00. The total value of the property has to be under this. Happy to discuss further, if you would like. Have a look at my profile for contact details or let me know and I can contact you.Regards Nolan

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