Buying your first home is a big step, and 2025 is shaping up to be a promising year for first home buyers (FHBs). From market trends and government support to choosing the right community, understanding your options can make all the difference.
Here’s everything you need to know to take that exciting leap into homeownership:
Why 2025 is a great time to buy
The Reserve Bank of Australia (RBA) has recently reduced interest rates for the first time since 2020, which could make home loans more affordable. This means lower monthly repayments, giving first-time buyers the chance to enter the market with less financial pressure.
- More borrowing power: Lower rates may increase how much you can borrow while keeping repayments manageable.
- Better affordability: Reduced interests may also reduce other costs and expenses, helping you focus on saving for your deposit or additional home expenses.
Unlock government support for First Home Buyers
Government grants and incentives make owning your first home in 2025 even more achievable. But hurry, these incentives are set to end on the 30th of June 2025. Here’s what you need to know:
Eligible first home buyers can receive $10,000 toward a newly built home valued at $750,000 or less. To qualify, you must:
- Be an Australian citizen or permanent resident.
- Live in the home as your primary residence for at least 12 months within the first year.
First Home Guarantee: 5% Deposit Scheme
This initiative allows eligible buyers to secure a home with just a 5% deposit, with the government guaranteeing up to 15% of the loan. Say goodbye to Lender’s Mortgage Insurance (LMI) and hello to affordable homeownership.
In Victoria, first home buyers benefit from stamp duty exemptions or concessions:
- No stamp duty: For homes valued under $600,000, saving up to $31,000.
- Partial concessions: For homes between $600,000 and $750,000.
Harriott Townhomes: a perfect choice for first home buyers
Finding a home that balances affordability, convenience, and lifestyle can feel like a challenge – but Harriott Townhomes deliver on all fronts. Designed with first-time buyers in mind, these homes offer the ideal blend of value, practicality, and style. Here’s why they’re the ideal choice:
- Affordable and accessible – Harriott Townhomes offer a cost-effective path to homeownership without compromising on quality or location.
- Turnkey convenience – Move in with ease – landscaping, heating and cooling, appliances, and more are all included, so you can enjoy your new home right away.
- Low maintenance – Designed for easy upkeep, Harriott Townhomes offer a smaller footprint with outdoor spaces for relaxation and entertainment.
- Personalisation options – Customise your home with a variety of floorplans, façade designs, and internal finishes to suit your style.
- Prime location – Located just 250m from The Village Warralily, you’ll have shops, dining, and amenities at your doorstep, plus beautiful green spaces to enjoy.
The Harkness Release is now selling at Harriott. Contact a Harriott Sales Consultant to secure your Harriott Townhome today. Visit us at the corner of Barwon Heads Road and Harriott Road, Armstrong Creek, or call us on 1300 896 817.