time to buy, page-16

Hi,

My son is trying to take advantage of the first home owners grant before it expires at the end of this month.

I just need some help and rationale from people on here who are more experienced and wiser in the pros and cons of buying a house and land package.

The house and land package from a local builder is $150,000 for the block of land $220,000 which equals $370,000.

With the grant of $26,500 plus his own deposit of $12,000, he would need to borrow the balance using a low doc homeloan because he is self employed. How I see it is after june the grant expires and I can't see the same house and land package dropping by $26,500 after this date.

Is this a wise move and would some one have any other suggestions?

Thank you in advance


Flinders