Todd PolkeInvestment Strategist l Wealth Coach l Speaker, Todd Polke · Investment Strategist l Helping Investors and Business Owners grow their Wealth Faster

What's your excuse? #shorts #australia #realestate #finance

16 Apr 2024 · 1 min

Watch on YouTube

1:00

In this YouTube short, the speaker explains how prospective Australian homebuyers can enter the property market with a relatively low cash outlay by leveraging government first‑home buyer grants. Using a worked example of a $650,000 property, he shows that a 5% deposit ($32,500) plus roughly $10,000 in ancillary costs totals about $45,000. He then points out that the government provides a $30,000 grant for new‑construction homes and a $15,000 grant for existing homes, effectively covering most of the required cash. The speaker urges viewers to visit firsthome.gov.au to check their entitlement, framing any hesitation as mere laziness and emphasizing that the financial barriers are largely removable.

Chapters

So when you start thinking about what you actually need to be able to get into the marketplace, as long as you can qualify for these different type of things, then you've got to start thinking about, okay, well, if I can get in, get a new property at $650,000, and that might be a construction, you can get an off-the-plan property and register for that right now if you want to be able to do that. And you might only need a 5% deposit to be able to get into the deal, which is going to be like $32,500. Now add some costs in there, another kind of $10K on top of that just for shits and giggles. Like you might be talking about, well, you might only need like $45,000 to be able to get in there, but you get a $30,000 grant from the government, right? So I sit there and go, what's the excuse, right? It's just laziness, not looking at it. Now, look up firsthome.gov.au and go and look at how much you're entitled to, but it is $15,000 for existing property, $30,000 for a new property, okay? So there's definitely opportunities there.