First Home Owners Grant WA
The First Home Owners Grant is a great government incentive for buyers in Perth, WA. With the grant, first home buyers can receive a $10,000 incentive to purchase their new home! That can be extremely helpful since it frees up funds for other expenses like legal fees and home deposit.
The First Home Owners Grant scheme is available in all states including Western Australia. It was introduced on 1st July 2000 as a national scheme to encourage home ownership across the country. It is funded by the various states and territories and administered under their own legislation. Therefore, the eligibility requirements for first home buyers may vary according to state.
Are You Eligible For The Grant?
In Perth, the first home owners grant gives you a one-off payment of $10,000 to buy or build a new residential property for use as your principal home. So if you’re a first home buyer, be sure to take advantage of this incentive! Not sure if you qualify? Let’s take a look at the eligibility requirements for the grant in WA:
- At least one applicant must be an Australian citizen or a permanent residence at the time of application. That means if you’re joint purchasing the house with your partner, at least one of you must satisfy this requirement.
- You must be 18 years or older. However, if you’re under 18 in WA, you can apply for the first home owners grant by getting an exemption from the age requirement. To get exempted, you have to submit an application with the Commissioner of State Revenue.
- You (the applicant) and your partner cannot have owned a house anywhere in Australia before 1st July 2000. You also cannot have owned a house in Australia on or after 1st July 2000 and occupied it as a place of residence.
- You and your partner cannot have previously received the grant or first home owner rate of duty from any state or territory in Australia. This rate of duty refers to the special rate that first home buyers are qualified to get, and it’s only available for your first home.
- Lastly, you have to occupy the home as your principal place of residence for a continuous period of 6 months or more, and within 12 months of completion of the FHOG transaction.
You’re eligible for the first home owners grant when you buy a house south of the 26th parallel line (including all of the Perth metropolitan area) with a purchase price of up to $750,000. For houses north of the 26th parallel the price can be up to $1 million.
Besides the one-off incentive, first home buyers can also enjoy a waiver of the stamp duty for a vacant land with a value up to $300,000, and a total limit of $750,000 for a house and land package.
Get Your Dream Home With Us
At First Home Buyers Direct, we have affordable house and land packages in Perth from $274,990. Pair that with the first home owners grant and stamp duty waiver, it’s even easier to own a home! If you’re looking for a house in Perth now, don’t wait. Take advantage of the $10,000 and check out our house and land packages now - the grant amount may change (as it has in the past).
To know more about the WA first home owners grant, and to find out if you qualify for it, just call us at 08 9244 7444 and speak with one of our Qualifiers, or fill in the enquiry form and we’ll get in touch with you promptly.
Authorised Credit Representative Number: 402669