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The solution for first home buyers in Western Australia
The First Home Owner Grant WA (FHOG) is a scheme designed to help first-home buyers purchase their first home in Western Australia (WA).
It offers a cash grant of $10,000 to eligible first-home buyers who purchase or build a new home valued at $750,000 or less (or $1,000,000 or less if the home is located north of the 26th parallel).
The First Home Owner Grant WA (FHOG) also offers stamp duty concessions to eligible first-home buyers, depending on the value of the property they are purchasing.
Cash Grant Currently the cash grant is $0 for first home buyers purchasing an established home and $10,000 for first home buyers purchasing or building a new home. The grant is only payable where the value of properties is $750,000 or less, or if the home is located north of the 26th parallel to $1,000,000 or less.
For first home buyers purchasing established homes you may be entitled to pay $0 stamp duty on purchases of $430,000 or less.
If you buy between $430,000 and $530,000 you will pay $19.19 per $100 or part of $100 above $430,000.
Purchases over $530,000 attract stamp duty at normal rates.For first home buyers building a home you may be entitled to pay $0 stamp duty on land purchases of $300,000 or less. If your land value is between $300,000 and $400,000 you will pay $13.01 per $100 or part of $100 above $300,000. Purchases of vacant land over $400,000 will attract stamp duty at normal rates.
Stamp Duty Concession Requirements
NOTE: you will only receive the above stamp duty concession on the land when you enter into a building contract. If you buy the vacant land only you will not receive any stamp duty concessions until such time as you enter into a building contract.
The First Home Owner Grant (FHOG) is a great way to save money on the purchase of your first home in Western Australia. If you are a first home buyer and you are thinking about purchasing or building a new home, I encourage you to learn more about the FHOG scheme and see if you are eligible.To find out if you qualify for the First Home Owner Grant (FHOG) scheme, contact us and we can help you through the application process.
The FHOG WA offers $10,000 for eligible first-time homebuyers building or buying a brand new home in Western Australia. For Perth metro (south of the 26th parallel), the home value must be under $750,000. North of the 26th parallel, the limit increases to $1 million. The grant is not available for established homes, but stamp duty savings may still apply.
WA first home buyers purchasing an established home valued at $400,000 or less may be eligible for a $2,000 HBAA grant. This reimburses costs like legal fees, inspections, and loan establishment fees. The property must be purchased through a licensed real estate agent and cannot be vacant land.
To qualify for the FHOG WA, you must be at least 18 (with exceptions), a first-time applicant (including your spouse/partner), and an Australian citizen or permanent resident. You must intend to live in the newly built home for at least 6 months within the first year. Previous property ownership in Australia can disqualify you depending on the dates and occupancy.
Securing your FHOG WA is a breeze! Our Lime Mortgage Brokers will navigate the application process for you. Simply fill out the form below and a Perth mortgage broker will connect with you soon.
Lime Mortgage Brokers can help you secure the First Home Owner Grant (FHOG) WA! Our experienced brokers will assess your eligibility, guide you through the application process, and ensure you have all the necessary documents for a smooth experience. Don’t miss out on this valuable financial boost for your homeownership journey. Contact Lime Mortgage Brokers today for a free consultation!
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The First Home Owner Grant (FHOG) is a scheme designed to help first home buyers purchase their first home in Western Australia.
It offers a cash grant of $10,000 to eligible first home buyers who purchase or build a new home valued at $750,000 or less (or $1,000,000 or less if the home is located north of the 26th parallel).
The First Home Owner Grant (FHOG) also offers stamp duty concessions to eligible first home buyers, depending on the value of the property they are purchasing.
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