Buying a Maverick Unit As a First Time Homebuyer

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Stamp duty is usually a major up front cost when buying a property. However, in NSW, first-time home buyers are completely exempt from paying stamp duties on Maverick's units.

Lower property prices mean a smaller deposit. Under the federal government's 5% Deposit Scheme, eligible first-home buyers can purchase a Maverick unit with only 5% deposit, which can mean only $25k up front for one of our properties.

If raising the 5% depsoit is a stretch, the federal "Help to Buy" scheme allows eligible buyers to purchase a Maverick unit with just a 2% deposit (as little as $10,000). The government contributes an equity stake of up to 30% for Maverick's units, meaning your total loan and monthly mortgage payments are significantly smaller.

You can fast track your savings for a deposit using the First Home Super Saver (FHSS) scheme. This allows you to make voluntary, before-tax contribtuions into your superannuation fund specifically to save for your first home deposit. Because super is taxed at a lower concessional rate (15%) compared to normal income tax, you can save for your deposit much faster than using a traditional savings account.

• Be an Australian citizen or permanent resident
• Be at least 18 years old
• Have never owned or co-owned residential property or land in Australia before
• Intend to move into the property within 12 months of settlement and live in it as your principal place of residence for at least 12 continuous months