First home buyers double bonaza as Rudd spends surpluses
09/03/2012 
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First time home buyers are suddenly given two choices to move to buy or build their first homes. First home buyers will be eligible for grants of up to $21,000 designed to stimulate housing activity in new home construction, construction loans and home finance generally.
The scheme will be time limited.
All new home contracts entered into by June 30 next year will be eligible for the new first home buyer assistance.
The new grant payment under the first home buyers [grant] scheme will be doubled from $7000 to $14,000 and first home buyers who buy newly-constructed home will receive an extra $14,000 taking their total grant to $21,000.
The Government will invest $1.5 billion into the housing market over 2008/09 and 2009/10 through this initiative to boost the housing construction industry and with it the broader home building supplier industry and the retail economy.
Rick Adlam has been helping clients with home loan finance since 1985 when he was home consultant with AV Jennings. Rick started Equity Home Loans in 1996 to help homeowners become property investors. Rick currently consults in the development of Mr Mortgage for mortgage brokers and HomeMate for new home buyers.
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