First home buyers get financial boost

CHERRYBROOK couple Shaun Hunt and Sarah Cuy are hoping to take advantage of the state government's budget.

The pair are looking to buy their first home this year and would like to be eligible for the government's new $15,000 first home owners' grant.

The government will double the first home owners' grant for new properties from October 1 and drop it to $10,000 in 2014.

Buyers of existing homes and properties will miss out.

Mr Hunt is hoping to take advantage of the limited time offer and get into the property market straight away.

The 26-year-old said he's searched "far and wide" throughout The Hills but hasn't found a property in his $550,000 budget.

"My partner and I are living with her parents at the moment and we'd love to move out and buy our first home," Mr Hunt said.

"It's a hard area to buy a new home in though and we've extended our search to new land releases in Kellyville Ridge, The Ponds, Riverstone and Pitt Town."

Influencing Mr Hunt's decision will be his proximity to transport services such as the North West Rail Link and local hospitals.

Treasurer Mike Baird has encouraged people to "think new" when buying a home but Greens MP John Kate criticised the scheme saying the grant will end up as more profit for developers and less help to young people.

First home buyers of new dwellings will continue to benefit from stamp duty concessions with the threshold increased to $650,000.

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