Frequently asked questions about Save 2 Buy

What is save2buy?

Save2buy is a Hibbards initiative for first home buyers where you can save time AND money.
How? By using the first home buyers grant, the government concession on new homes, your rental history and the experience of the Hibbards team to make it happen.
But how do we make it happen? Everyone’s situation is different and unique. We assess where each of our clients are at with their financial position and show our clients how it’s possible for them to own their own home when they never thought it was possible.

Not everyone can do it straight away. Obviously its most important that you are able to service the loan – this is the basis on which the lender will approve the loan. If you cannot pay the repayments, then unfortunately you really can’t get the house.
You need to believe it’s possible in your future though. If you’re not in a position to purchase right now, our team will tell you what you need to do in order to be successful in purchasing your own home. We have had so many people come back after 12 months that have worked hard to reduce other financial commitments etc or have made other improvements and are ready to purchase.
The first step to knowing anything is to inquire through one of our online forms. From there you will be able to know from our assessment where you stand, and with that knowledge you can make informed decisions.

What’s the difference between save2buy and rent to buy?

Rent to buy, also known as rent to own, is a variety of vendor finance.

In Rent to Own, the seller helps the buyer by allowing the buyer to rent the house for a while, until the buyer builds up enough equity to qualify for a bank loan and own the house.

Read more here:

The difference between rent to buy and save2buy is that Hibbards provide the actual home and the service of helping first home buyers achieve their dream of home ownership is an initiative that we have called Save2buy.

Why Hibbards do not offer rent to buy:

We don’t do vendor finance and it’s all done through banks/registered lenders. We build homes, and help people realise their dream of home ownership. That’s our passion.

Do Hibbards rent houses?

At Hibbards we don’t do any rentals, however we do sell to investors who require tenants. If you are looking to rent, feel free to contact us and we can direct you to our preferred property managers within each of our locations that have proven to be the best in their region.

What’s the catch?

Our Save2buy program is where we help First Home Buyers into their own homes.
How can this be possible?

  • Because First home buyers get so much assistance from government grants that only apply to new homes – the First Home Buyers grant and a concession with stamp duty.
  • If your income allows you to be able to make the payments of a house loan BUT you can’t catch a break to be able get the deposit and savings history then Hibbards may very well be able to help you get into your own home.
  • The main thing is your affordability. The finance is done through the banks. However, a lot of people are held back because of their deposit – we can show you how to use your government grants and adhere to the financial lenders rules to help you get there.
  • On top of that, Hibbards have homes that are planned for construction months and months in advance. If your affordability is there but you do need more deposit, then you can put your name on one and we can guide you with the savings and with the timeline.

So what’s the catch?
You get your own home.

What is the Government Grant for First Home Buyers?

FHOG – First Home Owner Grant (New Homes) scheme is available for first time home purchasers for eligible transactions made on or after 1 January 2016, the grant amount is $10,000.
For more detailed information, click here:

How can I be eligible for this Government Grant?

All applicants must not have owned a home before
The home must cost less than $750,000
It must be a brand new home
For more detailed information click here:

What other Grants are available for first home buyers?

FHNHS – The First Home New Home Scheme is used in addition to the First Home Buyers Grant and allows a concession on stamp duty (transfer tax)
For more detailed information on this Government incentive click here:
you can do some stamp duty calculations here

First Home Buyers you get the FHOG + FHNHS + the assistance of Hibbards Save2buy program and end up with your own home