Buying a home is a big decision so you want to make sure you are buying the right thing at the right time. The media is so up and down with their reporting that it is hard to know where Brisbane’s property market is at the moment. So here is a list of 7 reasons why now is the best time to make that leap into the Brisbane property market now!
1. A buyers market.
The time to buy is now, with Brisbane’s forecast population growth and super developments like the Queens Wharf, it is best to buy now before it turns into the kind of sellers market which we are seeing in both Sydney and Melbourne.
2. Repayments < Rent
Currently loan repayments are competitive with rents being paid at the moment in a lot of places around Brisbane. Why pay off someone else’s investment when you could be starting your empire?
3. Lowest interest rate ever!
Brisbane is currently experiencing the lowest interest rates ever! It’d be a crime not to take advantage of this.
4. First Home Buyers Grant
The First Home Buyers Grant is a government incentive of $15,000 given to people buying their first home. Check your eligibility here. This incentive is not necessarily going to be around forever, so it’s best to take advantage while you still can.
5. No stamp duty under $500K
Another big bonus is not having to pay stamp duty for properties under $500K. More money in your pocket.
6. Brisbane potential being realised
Brisbane’s growth has been held back in comparison to it’s sister cities of Sydney and Melbourne. Now with super developments like ECHO Entertainment’s Queens Wharf Casino, and rumours of a world class Entertainment Centre in West End, Brisbane is really coming into its own and can expect continued capital growth.
7. Bargaining power
A buyers market gives you, the buyer, more bargaining power. First home owners can ask for inclusions from developers/builders now which has not been available before now. This can include blinds and curtain packages, fly screens and more!