FHBs snap up NSW government grants to buy off-the-plan apartments

The New South Wales government is incentivising first-home buyers (FHB) by implementing the First Home Owner (New Homes) Grant and First Home Buyers Assistance Scheme. Developers across the Premier State are catering to this demographic, with stunning apartment developments popping up in sought-after locales where location, design, and amenity are part of the package. This feature takes a look at a couple of those projects being snapped up by FHBs.

First-home buyers rejoice! With the New South Wales Government implementing its First Home Owner (New Homes) Grant – giving FHBs all over the state a $10,000 grant when they buy their first new home under $600,000 – and First Home Buyers Assistance Scheme – allowing FHBs in New South Wales full or partial transfer duty exemption on their first home less than $1 million.

Both the grant and the scheme apply to townhouses and apartments, whether newly built, purchased off-the-plan, or substantially renovated. And that’s where Tallawong Village in Rouse Hill and Dairy Farmers Towers in Newcastle come in: two stunning apartment developments attracting first-home buyers.

Deemed the best value apartments in Sydney’s North West, Tallawong Village offers two and three-bedroom residences priced from $735,000 – the perfect home for those looking to take advantage of the First Home Buyers Assistance Scheme. Architecturally designed by multi-award-winning architects Turner, these homes are stunning. Yet, it is the project’s location that FHBs are loving.

Harry Leung, Senior Director of CBRE Residential Projects, said that Tallawong Village’s proximity to the Tallawong Metro Station, located right opposite the development, is a big drawcard for buyers in general, but particularly FHBs. Situated in the heart of a new retail precinct, residents will also be moments away from retail and dining – another green tick.

“Our record indicated 38% of the purchasers are first-home buyers and we have sold a total of 599 apartments thus far,” Harry revealed.

With stage 1 sold out, stage 2 already 95% sold, and stage 3 selling quickly, it is evident that discerning buyers have recognised the value of this Rouse Hill address.

Up north, in coastal Newcastle, is Dairy Farmers Towers – an icon in the West End offering 180 apartments of one, two, and three-bedroom specifications from $595,500. Here, select residences are eligible for the First Home Owner (New Homes) Grant, and FHBs also love that they can purchase at Dairy Farmers Towers with Coposit.

“Where traditional off-the-plan purchases require the purchaser to place a 10% deposit on signing the contract, Coposit allows purchasers to exchange for as little as $10k for their deposit and pay down the rest of the full 10% deposit in interest-free, weekly instalments while their property is being built,”  explained Luke Berry, founder and global director of sales & marketing at Thirdi Group.

“Coposit has assisted many first-home buyers who have purchased within Dairy Farmers Towers by breaking down the barrier of entry and allowing them to secure the growth of the apartment without having to put down the full 10%.”

Overall, Luke revealed that the team has had a large amount of interest from FHBs within the project.

“This is believed to be attributed to our price point, our partnership with Coposit, the location of the project to the Newcastle CBD, and the outstanding amenity,” he explained.

“The location of the project being so close to Newcastle’s transport hub – the Interchange – is a huge convenience to purchasers with easy access to not only entertainment and dining venues and the beaches, but The Newcastle University additionally.”

Dairy Farmers Towers’ location also grants its residences sweeping vistas of Newcastle and the harbour – to be enjoyed on wrap-around balconies in every apartment. Resident-only amenities, including a swimming pool, co-working office/study space, gymnasium, and BBQ facilities, have been another drawcard for FHBs.

Boasting well-connected locations and beautifully crafted apartments, both Tallawong Village and Dairy Farmers Towers make the idyllic first home for FHBs looking to buy in the Premier State.

Both projects are now under construction, meaning your first home can be yours very soon.

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Header image of Dairy Farmers Towers.