As property analysts predict yet another spike in Sydney’s spiralling property prices after 1 July (source: realestate.com.au), first home buyers are being encouraged to think outside the square – and embrace the humble granny flat as a stepping stone into the property market.
In Sydney, mortgages now soak up an incredible 42% of the average income (source: BIS Oxford Economics). According to How-Nano Homes, a new local company revolutionising building solutions, granny flats are offering a new take on first home affordability on Sydney’s popular Northern Beaches.
“Although interest rates are at record lows, many first home buyers are still despairing at property affordability,” says How-Nano Homes Managing Director George Nori. “However – there is an innovative solution, and one which offers good long-term investment potential.
“How-Nano Homes is introducing a range of state-of-the-art one and two bedroom modular homes that put an entirely new dimension on the humble granny flat…and deliver a very affordable first point of entry to the Northern Beaches housing market.”
How-Nano Homes offer granny flats which are a combination of advanced modular design, luxury features and technology that are revolutionising backyards across Australia.
George Nori says, “As well as offering the perfect wholistic solution for first home buyers, a How-Nano Home on a property gives excellent, flexible long-term investment opportunities for families at all stages in life. Parents can help all their children, not just one, they can downsize into the How-Nano Home when their children leave, they can use it as an investment vehicle, or even as an AirBNB…the opportunities are endless.”
Northern Beaches first home buyers can still take advantage of the recent budget announcements and NSW first time home buyers rebate when they purchase their first property. They can make voluntary superannuation contributions of up to $30 000, which can be withdrawn after July 2018 when they are ready to purchase their new “independent” home.
In addition, a new package currently awaiting budget approval will abolish stamp duty for houses under $650k and will give a $10k grant to first home owners building homes valued at up to $750k, or buying new homes valued up to $600k.
“With a little help from their parents, home ownership can be accomplished in an amazingly short time frame,” continues Mr Nori. “By using the $10k first home buyers’ grant, Stamp Duty Concession and the recently-announced changes to superannuation, and the FHB How-Nano home strategy to enter the market, Northern Beaches first home buyers at last have a real solution.
“How-Nano Homes are an affordable, low risk and low stress first home option that can grow with a family. They are luxurious homes designed for modern living. Designs can be personalised with solar power and water tanks, or first home buyers can select a package that comes fully equipped with furniture, electronics and white goods. They are an excellent solution for first home buyers looking to get a start on the property ladder.”
For more information on How-Nano Homes and the Strategies and Solutions for First Home Buyers, please visit – https://how-strategygroup.com.au/hsg-firsthomebuyer/