Updated 9 January 2019
How much is the First Home Owner Grant in WA?
- If you’re buying a first home in WA, you could be entitled to a range of first home buyer benefits.
- A First Home Owner Grant – sometimes called the first home buyers grant – can be worth up to $10,000 depending on where you buy and how much you pay for your first home.
- Home Buyers Assistance Account – an extra $2,000 to help with upfront buying costs if your first home costs less than $400,000 (house and land packages aren’t eligible).
Keep on reading below to find out more about the various grants available in WA.
FHOG: New homes
A First Home Owner Grant (FHOG) of $10,000 is currently available for first home buyers purchasing new homes in Western Australia up to the value of $750,000 (or $1,000,000 if the property is located north of the 26th parallel of South Latitude).
To be eligible, first time buyers have to live in their new home for at least 6 months within the first year of purchasing the property.
Home Buyers Assistance Account
An additional contribution in the form of a grant from the Home Buyers Assistance Account is also available through the Real Estate & Business Agents Supervisory Board.
The scheme provides first home buyers with up to $2,000 in order to cover the various expenses they will encounter when they purchase an established or partially built home through a licensed real estate agent.
Types of expenses that can be covered include:
- conveyancing or solicitor fees;
- valuation fees;
- bank/lending institution fees;
- mortgage registration fees;
- mortgage insurance premiums;
- and inspection and establishment fees.
This Account is only available for properties up to $400,000 and is not available for vacant land or house and land packages.
For more information, go to Department of Commerce site for the Government of Western Australia.