Oliver Myers Real Estate
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Financial Benefits from Buying New Homes #2 - Stamp Duty Savings

Financial Benefits from Buying New Homes #2 - Stamp Duty Savings

  • 25 Sep 2017

Welcome to the second in a series of 3 articles about the financial benefits of buying new homes off the plan.


Stamp Duty Savings


Stamp Duty is now called 'Transfer of land or business duty'. In real estate terms, this is a duty that you pay on the sale or transfer of land, including improvements in NSW.


This means that if you purchase real estate under one contract for the land and the improvement on that land (the house), you will pay duty on the total purchase price.


If you purchase a new home where the vacant land is sold under one contract and there is a separate building contract for the construction, you only pay duty on the land value.


Here is an example of how this could affect you:


For the same purchase price of $578,000 you would save $16,430 in duty. You can calculate this for yourself on the Revenue NSW site: https://www.apps08.osr.nsw.gov.au/erevenue/calculators/landsalesimple.php


As an investor looking for a good return on your investment, buying off the plan already puts you ahead.


*Note: there are even more savings for eligible first home buyers. Contact us for details.

Tony took his time to meet my requirements

When looking for a property for my parents, I was introduced to Tony. After I described my requirements, he took the time to show me areas that fulfilled my requirements, and then specific locations, floor plans and similar new homes that he believed, based on my criteria, would be suitable. Thank you Tony.

- Mac

Nothing but wonderful!

My venture into my first home on the coast was made easy by the support from Tony and his team. They were nothing but wonderful!

- Katherine
Hamlyn Terrace

Willing to go the extra mile

Tony and his team were willing to go the extra mile to show us properties in new and growing areas that would be suitable to include in our investment portfolio. Following our earlier success in securing a new build on land in the Newcastle region, we were keen to investigate other locations which would provide capital growth and good rental return with a low vacancy factor. His team thoroughly researched all those requirements and provided great options.

- Roger Smith
Tea Gardens

Making Life Easy for us Landlords!

Tony and his team assisted us in buying a new off-the-plan home for investment purposes. We were given plenty of information on the location and trends in the area, and the types of properties that were popular with tenants. Tony has many trusted contacts in real estate and associated industries, and referred us to a quantity surveyor who has helped us claim a lot more depreciation than we thought we could, and to a great property manager that is making our life easy for us as landlords. It’s been a very successful relationship!

- P & L Sherrell
Mt Annan