{"id":5426,"date":"2024-05-16T10:40:40","date_gmt":"2024-05-16T00:40:40","guid":{"rendered":"https:\/\/financialplus.com.au\/?p=5426"},"modified":"2024-05-16T10:40:40","modified_gmt":"2024-05-16T00:40:40","slug":"not-feeling-the-budget-love-4-ways-you-could-still-get-ahead","status":"publish","type":"post","link":"https:\/\/financialplus.com.au\/not-feeling-the-budget-love-4-ways-you-could-still-get-ahead\/","title":{"rendered":"Not feeling the budget love? 4 ways you could still get ahead"},"content":{"rendered":"
The 2024 federal budget is out, and you might be wondering what\u2019s in it for you.<\/p>\n Sure, an\u00a0energy rebate of $300 annually<\/a>\u00a0can help take the sting out of electricity bills, though at $75 per quarterly bill, it\u2019s not a huge saving.<\/p>\n But you don\u2019t need to rely on the federal budget.<\/p>\n Here are four strategies that could get your wealth growing.<\/p>\n Disappointed that the federal budget didn\u2019t offer more support for first home buyers?<\/p>\n There is still a wide choice of home buying assistance schemes to pick from.<\/p>\n Take a look at:<\/p>\n \u2013\u00a0The Home Guarantee Scheme<\/a><\/strong>\u00a0that lets eligible first home buyers, regional Australians, and single parents buy a place of their own with a low deposit (between 5% and 2%) and zero lenders mortgage insurance.<\/p>\n \u2013\u00a0The First Home Owner Grant<\/a><\/strong>, which is usually worth $10,000 but can be up to $30,000 (depending on your state) when you buy or build a new home.<\/p>\n Don\u2019t forget stamp duty concessions (in most states) and the\u00a0First Home Super Saver Scheme<\/a>\u00a0that can let first home buyers use their super to grow a deposit.<\/p>\n Not sure what you\u2019re eligible for?<\/p>\n Talk to us to find out which first home buyer schemes you can tap into.<\/p>\n Why wait for the Reserve Bank of Australia to cut rates?<\/p>\n You may be able to pocket rate savings of your own.<\/p>\n Lots of savvy home owners are jumping ship, with around\u00a0$16.02 billion worth of home loans refinanced<\/a>\u00a0in March 2024.<\/p>\n It goes to show that savings can still be up for grabs for borrowers who switch to a lower rate home loan.<\/p>\n Call us today to find out how your loan shapes up, and discover how much you could save by switching.<\/p>\n Lending to property investors has\u00a0jumped 31% in the past year<\/a>.<\/p>\n It\u2019s being driven by an\u00a011% rise in property values<\/a>\u00a0since January 2023 \u2013 a jump that\u2019s seen home owners notch up thousands of extra dollars in home equity.<\/p>\n The good news is that this home equity could potentially be used in place of a cash deposit to invest in an investment property.<\/p>\n Talk to us today about unlocking your home equity and becoming a property investor.<\/p>\n The federal budget has confirmed that 13.6 million Australians will pocket tax savings from 1 July.<\/p>\n And there\u2019s a good chance you\u2019re among them.<\/p>\n The Stage 3 tax cuts are expected to deliver an\u00a0average tax saving of $1,888 a year<\/a>, or about $36 weekly.<\/p>\n On the face of it, that\u2019s not a game changer when it comes to your weekly budget, but it can help you in more ways than one.<\/p>\n That\u2019s because it can also boost your borrowing power if you\u2019re buying a first home, upgrading to your next home, or planning to invest.<\/p>\nIf the latest federal government budget is leaving you hungry for perks and savings, you\u2019re not alone. We\u2019ve had a brainstorm and here are four ways you could start working towards your property goals now.<\/strong><\/p>\n
1. Helping hands for first home buyers? There\u2019s plenty available<\/h3>\n
2. Rate relief for home owners? Make it happen sooner<\/h3>\n
3. Property investors: harness your property\u2019s equity<\/h3>\n
4. Tax relief: Stage 3 tax cuts are on the way<\/h3>\n