FHBA New Home of the Week: 26 October 2016 (Edition 32)

In Edition 32 of FHBA New Homes of the Week we are proud to present our top first home buyer homes priced under your relevant State’s First Home Owners Grant (FHOG) threshold.

With growing concern over housing affordability plaguing would-be first home buyers, the issue of whether to rent or buy is more hotly debated now than it has ever been. In this week’s Edition we showcase our top 5 homes where it may be cheaper to live in your own home rather than rent.

The mortgage repayments will be vary depending on the amount of deposit you have for your first home, therefore we have used the scenario where a first home buyer has a 10% deposit to purchase their first home, at the average interest rate of 4%.  These properties also provide great options for first home buyers that are looking to ‘rentvest’ (purchasing an affordable investment property whilst renting in their desired suburb).

There are pros & cons for both renting & buying. Ultimately, it’s up to you to work out whether renting or buying a home that best suits your personal and financial situation. However, the FHBA Team are always happy to answer any questions you have to assist your decision-making process. Simply select the button below:

Quick Guide:

• Below are our top 5 FHBA New Homes for this week
• We have highlighted some key features of each property
• If you like any of the homes you see just click on the image for more information (or simply complete an enquiry form below and one of our New Home Experts will be in contact with you, for your complimentary, no obligation consultation)

Disclaimer: The numbers below are for illustration purposes only and should not be relied upon. The calculations do not take into account other costs of owning a property such as maintenance. Before making any financial or investment decision you should seek professional advice.

Here’s our top 5 FHBA New Homes of the Week for 26 October 2016:

Boronia Heights – Queensland

• Price From: $329,000 (Book a complimentary consultation for more info!)
• Weekly Median Rent in Suburb: $335
• Estimated weekly Mortgage Repayments (4% Interest Rate): $330
• First Home Owner Grant: $20,000
• What we like: Completed and ready to buy now, the Boronia Bushland Reserve offers opportunities for bushwalking, barbecues and picnics. Offers 2 bedroom and 2 bathrooms with a lock up Garage. Great opportunity for first home buyers looking to purchase their first home in the southern part of Brisbane.

Branxton – New South Wales

• Price From: $383,600
• Weekly Median Rent in Suburb: $400
• Estimated weekly Mortgage Repayments (4% Interest Rate): $373
• First Home Owner Grant: $10,000
• What we like: Parks, open spaces, walking and cycling paths, playgrounds, bushwalking trails, plus courts for tennis, netball and basketball will form an essential part of the recreational opportunities at this estate. Offers 4 bedrooms, 2 bathrooms & a double garage.

Tarneit – Victoria

Morphett Vale – South Australia

• Price From: $377,000
• Weekly Median Rent in Suburb: $399
• Estimated weekly Mortgage Repayments (4% Interest Rate): $381
• First Home Owner Grant: $15,000
• What we like: This affordable, new development in the commodity filled, vibrant, Morphett Vale offers something for every buyer, being just 30 minutes from the Adelaide CBD. This development creates the haven you want for your family within an established community. The haven is superbly located to provide easy access to the Southern Expressway, local shopping, private and public schools, medical centre and Noarlunga Hospital, Flinders University, TAFE colleges, Colonades & Marion Shopping Centre and the Noarlunga Train and Bus terminal.