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Case Study: First Home Buyer Gets The Lot

We have recently given you quite a bit of commentary about all the Government bonuses available to First Home Buyers.
One of our clients, Nick, a sparkie, managed to access 3 of those bonuses and the savings was quite significant.  Read his story below.

Here’s Nick’s story:
 
Q.  How long had you been looking to buy your first home?
I had been looking for about 6 months.
Q.  Were you purchasing by yourself?
Yes I was.
Q.  Did you know about the Government incentives available?  
Yes I was aware that there were quite a few savings that the Government was offering.
Q.  Did that make it easier for you to decide to buy and without them would you have taken longer to get into the market?
Yes, it made it easier and no, I had been looking to buy for a while.
Q.  What % deposit did you have?
Just over 10%.
Q.  You were eligible for the Stamp Duty exemption, First Home Owners Deposit Scheme which were an approximate value of?
Stamp Duty savings for FHB and under a certain value (which mine was) gave me a saving of $24,770.
First Home Owners Deposit Scheme which is where the Government pays the Lenders Mortgage Insurance (LMI) saved me about $15000.
Q.  The LMI saving was dependent on which lender you went with as places in this Scheme were running out.  Did you know about this before you bought?
No I didn’t.  Louise organised all that for me!
Q.  The added savings you got was the First Home Owners Grant?  Did you know you were eligible for this?
Yes, the Agent advised me that this would be on the table too.  It was $10,000
Q.  Why was your particular property suited to the Grant criteria?
To be under 5 years old and was the first sale of the property.
Q.  So the total savings to you was around ??
Around 50k.
Q.  Wow that’s a lot.  What sort of difference has this made to you and would you encourage other First Home Buyers to do the same?
Yes, I wasted a lot of time thinking about little things when in the end they did not matter.  if you like something, go for gold!
Q.  How important was it to have Louise helping you?  Would it have been difficult to navigate all this by yourself?
Yes, her knowledge never goes unnoticed, always finding ways to save money and make it an easy and an unstressful way to buy a property.  I definitely would not be here without her.

ALI Group has officially launched it’s new My Protection Plan*, offering double the complimentary period for new policyholders (this offer runs until August 31, 2020) so you can consider the right level of cover for you without paying any premiums.
My Protection Plan replaces the previous Loan Protection Plan**.
ALI Group’s My Protection Plan, protects you!
Simply put, ALI’s My Protection Plan is an insurance policy that pays you (your estate or a nominated beneficiary) a lump sum benefit for a Trauma Benefit, with cover for 13 serious medical conditions, a Death and Terminal Illness Benefit and up to three months benefits with a complimentary Accidental Injury Benefit, where you cannot work for more than 30 days due to a disabling injury.

+ Plus, there are no medicals required and cover is flexible so you can adjust your cover to suit your budget.

Insurance can be confusing, so to help we have a great explainer video which covers all the key points. Click here to watch.

Please contact [email protected] if you would like a quote or further information on this product.
**Clients who have taken the Loan Protection Plan continue to enjoy the Benefits of that policy
*Terms and Conditions and Eligibility criteria apply.  Click here to download Product Disclosure Statement and here to download Financial Services Guide.  Any advice provided is of a general nature only and does not take into consideration your objectives, financial situation or needs.


As you can see from Nick’s story, there are a few incentives available, so if you would like to discuss your situation, please make an appointment at www.calendly.com/louise and we can discuss what options there are for you.

With thanks,