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First home buyer warning: ‘Grants are not designed to help you’

A buyers agent is warning young people not to be rushed into building their first home because of government incentives.

Federal and state government grants are being offered to help boost the construction industry – resulting in a spike in first home buyers choosing to build rather than purchase an older property.

But Veronica Morgan told Gareth Parker on Mornings first home owners shouldn’t dismiss older homes and need to be aware of the bigger picture.

Ms Morgan says the grants are not for the benefit of first home buyers rather they have been primarily designed to bolster the construction industry to stimulate the economy. She says steering first home buyers to build new homes is putting them at risk of an investment that will potentially lose value.

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