Updated 17 May 2017
FHOG: New homes
A First Home Owner Grant (FHOG) of $10,000 is currently available for first home buyers of new homes in Western Australia purchasing properties valued at up to $750,000 (or $1,000,000 if located north of the 26th parallel of South Latitude). Applicants have to occupy the home as their principal place of residence for a continuous period of at least 6 months, commencing within 12 months of the completion of the transaction.
For 2017, the WA State Government has also introduced a temporary boost of $5,000 to the FHOG - for eligible first home buyers entering into contracts between 1 January and 1 July 2017 to purchase or build a new home. Eligibility requirements can be found on the Department of Finance site for the Government of Western Australia.
FHOG: Established homes
From October 3, 2015, there are no first home owner grants available to purchasers of established homes in Western Australia.
The 2015-2016 WA State Budget included a measure to have the first home owner grant of up to $3,000 abolished for the purchase of established homes. This change will apply to contracts entered into on or after October 3, 2015.
First home owners purchasing an established home may still be able to apply for the first home owner rate of duty reduction if the value of their property is less than $530,000.
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 a grant of up to $2,000 to cover the expenses first home buyers may 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.