What the budget actually means if you're buying property — no politics, just the bits that affect you.
The latest Federal budget landed, and as usual, there's plenty in it that touches property buyers — even if it doesn't make the front page. Here's what matters, in plain English.
First Home Guarantee caps have been adjusted upwards to reflect Sydney prices. If you qualify, you can buy with a deposit as low as 5% without paying Lenders Mortgage Insurance. But a small deposit means a bigger loan, which means more interest over time. Worth thinking about carefully.
Infrastructure spending is targeting transport links across several states. Why does that matter? Better transport tends to push up demand — and prices — in the areas it connects. We look at these pipeline projects when researching where to buy.
Negative gearing rules haven't changed much, but the ATO is paying closer attention to holiday rental claims. If you're investing, a straightforward residential rental in a strong suburb is a cleaner and safer position than something that relies on peak-season short stays.
This article is general property market information only — it isn't financial, tax, legal or investment advice. Your specific situation should always be discussed with a qualified, licensed professional (financial adviser, mortgage broker, tax agent or solicitor) before you make any decisions. FiveFold Property Partners helps clients buy property; we are not licensed financial advisers.
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