Dreaming of owning your own home in a beautiful regional area? The Regional First Home Buyer Guarantee (RFHBG) could be the key to unlocking your new space.
The Australian Government has introduced this fantastic initiative to help first-time home buyers in regional areas get into the property market sooner. With a deposit as low as 5%, it’s even easier to own your own brand-new home.
At Complete by McDonald Jones, we’re excited to help you take advantage of this opportunity. With our range of stunning house and land packages in regional NSW, you can find your perfect home and start building your future.
We have a variety of estates situated within regional areas, including Armidale (Cookes Hill), Huntley (Forest Reach), Heddon Greta (Avery’s Rise), Chisholm (Waterford Living), North Rothbury (Huntlee), and Albion Park (Mount Terry) there’s never been a better time to become a regional homeowner.
Firstly, what is it, and how does it look?
The Regional First Home Buyer Guarantee is designed to help first-home buyers get a foot in the door. It's a scheme that aims to level the playing field between regional and metropolitan areas, making it easier for you to secure a home loan.
How does it work? The government guarantees a portion of your home loan, typically up to 15%. This means you can buy a home with a deposit as low as 5%, and you won't have to pay LMI (Lenders Mortgage Insurance). LMI is usually a significant expense for first-home buyers, so this can save you a considerable amount of money.
To be eligible, you'll need to meet specific criteria, such as Australian citizenship or permanent residency, and meet certain income thresholds. You'll also need to purchase a property in a designated regional area.
If you're interested in taking advantage of this scheme, it's best to act quickly and seek advice from a financial advisor. The experts at MyChoice Home Loans are available via phone, email or in-person to discuss the range of grants and schemes available to you, to get you into your new home sooner,
Contact the team today or explore the eligibility criteria and specific details of the RFHBG on the Housing Australia website.
What are the benefits?
| Benefits | |
| Increased Buying Power | By guaranteeing a portion of your home loan, the RFHBG allows you to borrow more and purchase a property that might have previously been out of reach. This means you can potentially secure a larger and more suitable home for your needs. |
| Reduced Deposit Requirements | One of the biggest hurdles for first-time buyers is saving for a substantial deposit. The RFHBG lowers this barrier by allowing you to purchase a home with a deposit as low as 5%. This can significantly accelerate your journey to homeownership. |
| No Lenders Mortgage Insurance | Lenders Mortgage Insurance (LMI) can add thousands of dollars to the cost of your home loan. The RFHBG eliminates this expense, saving you money and making your homeownership journey more affordable. |
| Opportunity for Regional Living | The RFHBG encourages people to consider homeownership in regional areas. With lower property prices and a more relaxed lifestyle, regional living offers many advantages over urban living. Depending on your lifestyle and preferences, a regional home may be perfect for you and your family. |
Choosing the Right Property:
When considering where you may want to live, it’s important to consider your long terms goals and choose a property that can accommodate your current lifestyle, and well into the future.
We recommend researching the local market and choosing a property is a desirable location with good schools, amenities and potential for future growth. Why not explore some of our regionally located house and land packages, where all you have to do is pack your bags, and simply, move in.
Cookes Hill, Armidale:
This brand-new estate just 10-minutes from Armidale CBD, features several brand-new turnkey homes. Featuring the Newington 32 home design, with a single-storey layout including 4-bedrooms, 2.5-bathrooms and multiple living spaces – perfect for families of any size.
Surrounded by a beautiful natural landscape, life in Cookes Hill offers you your own private sanctuary away from the hustle and bustle of city life.
Forest Reach, Huntley:
Located on the NSW South Coast, make your sea change to Forest Reach where your new home is surrounded by lush bushland, dramatic cliffs, and breathtaking coastal views. Presenting 9 single-storey house and land packages comprising of 4-bedroom floor plans, ready for their new owners to move in early 2025.
Avery’s Rise, Heddon Greta:
Enjoy the best of both worlds in Avery’s Rise, just 30-minutes from the Newcastle CBD and the Hunter Valley wine region. This prime location provides easy access to a variety of amenities including schools, retail precincts, medical facilities, cafes and restaurants all within a 15-minute drive.
This residential development includes 15 single-storey turnkey homes, each comprising of a 4-bedroom floor plan perfect for your family’s new home.
Waterford Living, Chisholm:
This thriving estate is located just 15-minutes from Maitland and 35-minutes from Newcastle. Enjoy convenience at your doorstep with local schools within walking distance, a variety of playgrounds to let the kids run free and nature reserves interwoven with leisurely walking trails, so that the whole family, even the dog can enjoy the great outdoors.
Our packages in Waterford Living feature the Lindsey single-storey home design, with 4-bedrooms, 2.5-bathrooms, and 2 spacious living areas, ideal for family living.
By taking advantage of the Regional First Home Buyer Guarantee, you can increase your chances of securing your dream home in regional Australia.
Ready to begin your home-ownership journey? Complete by McDonald Jones presents a range of turnkey house and land packages within some of NSW leading regional residential estates. Discover our packages to suit your lifestyle and budget for sale in regional NSW.