Edenstone Homes is encouraging people to buy now at Llanfair Meadows ahead of tax changes.
Edenstone explains: SWITCHED on buyers who purchase a new home in Aberthin now could save substantially by beating new tax rules.
The new financial year, starting April 1, will see Land Transaction Tax replace Stamp Duty Land Tax in Wales – the first Welsh only tax for almost 800 years.
With the new rules just a few months away from being introduced, Edenstone Homes is helping to educate home buyers.
For example, if someone was to buy a home at Llanfair Meadows in the Vale of Glamorgan, now and complete the purchase of a brand new home before April, they would pay less tax on the transaction than if they bought once the changes are in force.
Andrea Nippe, sales director for Edenstone Homes, explains: “Time really is of the essence for people buying a home at Llanfair Meadows or anywhere else in Wales for that matter. The current Stamp Duty rate for properties priced between £400,000 and £925,000 is lower than the Land Transaction Tax will be for a home of the same value and so by taking swift action and buying now, savvy buyers have the potential to save thousands.”
Current availability at Llanfair Meadows includes four-bedroom homes in a choice of styles with prices from £510,000 for the Tewkesbury.
Under current Stamp Duty rates someone purchasing this property would pay £15,500 in tax, but from April 1 they would face a Land Transaction Tax bill of £18,200.
The difference in the rate is even greater for the Faringdon, similar to the show home, and priced at £555,000. The Stamp Duty on this property stands at £17,750, whereas the Land Transaction Tax would be £21,575.
Llanfair Meadows will include one high tech carbon zero home, designed to produce more energy than the home will require over the year. The self-sufficient home is a pilot which Edenstone hopes to be able to roll out to other developments in the future.
Located on the edge of Aberthin amid beautiful scenic surroundings, the new homes offer modern village living at its very best. The market town of Cowbridge is just over a mile away with good schools and a wider array of amenities. Cardiff and the magnificent beaches of the Glamorgan Heritage Coast are also within striking distance.
The show home is open at Llanfair Meadows on Court Close, Aberthin, from 10.30-5pm every Thursday to Monday. Call 07392 090258 or see http://edenstonehomes.com/aberthin-cowbridge for details.