How To: Save Money By Purchasing At Cornus Glen Iris

With construction underway at our Cornus Glen Iris project, now is the perfect time to invest in this exceptional development. By purchasing now, you can unlock significant savings on stamp duty costs, enjoy government grants and exemptions. Purchasers can benefit from depreciation advantages (for investors), experience lower maintenance costs and explore the potential for capital growth. Don't miss out on this opportunity to secure your future and make a wise investment decision.

Stamp Duty Savings

Right now, there's never been a better time to purchase at CornusGlen Iris, as construction has recently commenced, you can enjoy many significant savings. By purchasing at Glen Iris, you can reap the rewards of one of the most prominent and well-known advantages of buying off the plan – big stamp duty savings. In Victoria, for instance, you could save over $18,700 on a $500,000 purchase if you opt for a new off-the-plan property instead of an established one. As a first home buyer, this can be a substantial relief, making the entire process smoother and more affordable. One important factor to note regarding stamp duty savings is that when purchasing off-the-plan, whilst you can save big, stamp duty savings adjust as the progress on the project advances. As construction reaches certain milestones, the stamp duty savings minimise, so to capitalise on the maximum amount of stamp duty savings, it’s best to purchase in the early stages of release or construction, and in the case if Glen Iris, now’s the perfect time to buy!

First Home Owners Grant

First-time homebuyers in Victoria may be eligible to receive a $10,000 grant through the First Home Owner Grant when purchasing a property that has a dutiable value of  $750,000 or under. Additionally, purchasing a brand new property may entitle you to a stamp duty exemption for a property with a dutiable value of up to $600,000. The dutiable value includes the price paid or market value (whichever is greater) and any applicable GST. As a first homebuyer, you may also qualify for the Principal Place of Residence concession (PPR) if you plan to live in the home for at least one year within 12 months of settlement. These potential savings make investing in Cornus Glen Iris an ideal choice for first-time homebuyers seeking to make a sound financial decision and secure their future.

Depreciation Benefits

Another great benefit of purchasing an off-the-plan property like Cornus Glen Iris is the depreciation benefits. As an investor, you can claim tax deductions for the depreciation of up to 6,000 items within your new home including many fittings and fixtures. This could potentially save you thousands of dollars in tax each year. However, it's important to get a full depreciation schedule from your accountant once your property has settled, as this will make it easier for you to claim deductions on your home's fittings and fixtures at the end of the tax year.

Lower Maintenance Costs

New homes come with brand new fixtures and fittings, which means you're less likely to encounter maintenance issues in the short term. Plus, if any issues do arise, they will be covered by your builder's warranty.

Potential for Capital Growth

Buying off the plan can also offer significant potential for capital growth. As the property is brand new, it will likely appreciate in value over time, especially if it's in a desirable location like Glen Iris. This means that you could potentially make a profit when it comes time to sell your property.

Buying off the plan at Cornus Glen Iris offers a range of benefits, including significant stamp duty savings, depreciation benefits, lower maintenance costs and the potential for capital growth. If you're in the market for a new property, now is a great time to consider purchasing at Cornus Glen Iris.  

Cornus Glen Iris allows you to benefit from massive stamp duty savings, making this a wise financial decision that you won't regret. With construction underway, there's no better time than now to take advantage of this opportunity. Don't hesitate - contact us today to learn how you can save money and invest in your future with Cornus Glen Iris.