WESTERN AUSTRALIA: GUIDE TO FIRST HOME OWNER ASSISTANCE

LEARN ABOUT THE ASSISTANCE

The Western Australia First Home Owners’ Grant (WA FHOG) is a WA State Government initiative to help first home owners to get their ‘new’ first home sooner. It is an amount of money paid by the WA Government to eligible first home owners.

Learn more about the WA FHOG as well as other Western Australian Government assistance for first home buyers below.

The WA FHOG is currently at $15,000 for eligible first home buyers purchasing a ‘new’ home valued under $1,000,000 (north of the 26th parallel). If the ‘new’ home is located south of the 26th parallel, the cap is $750,000.

On 1 January 2018 the WA FHOG is due to fall to $10,000.

Important Tip: Grants and Concessions tend to change at short notice, therefore please double check with your State government what is available in your area before buying your first home!

First home buyers are generally eligible if:

  • Each applicant must be a natural person (i.e. not a company or trust)
  • Each applicant must be over 18 years of age
  • At least one applicant must be an Australian Citizen or a permanent resident
  • Each applicant has not received any First Home Buyer Grants or Concessions previously
  • Each applicant has not owned property anywhere in Australia prior to 01 July 2000
  • Each applicant must occupy the home as their principal place of residence for a continuous period of at least six months, commencing within twelve months of completion of the transaction
  • For eligible transactions commencing on or after 1 January 2010, the total value of the home must not exceed the cap amount. The cap amount is:
    • $750,000 if the property is located south of the 26th parallel of south latitude
    • $1,000,000 if located north of the 26th parallel of south latitude

For the full eligibility requirements please the WA Department of Finance website.

A ‘new’ home is a property that has never been lived in before by any other party, or sold to another party prior to you. The following are not considered a new home in Western Australia: Established houses; acquisition of vacant land (until there is a comprehensive contract to build a residential property on it), business or commercial property, holiday houses, renovations to an existing home.

When you buy a home you usually have to pay a State tax called transfer duty (also known as stamp duty). As a first home buyer, you may be entitled to receive the ‘first home owner rate of duty’ for the acquisition of your home if you are eligible for the FHOG:

  • If your home purchase price is below $430,000 you are not required to pay any transfer duty
  • If your home purchase is between $430,001 & $530,000, a reduced amount of transfer duty is payable at $19.19 per $100.

If you buy vacant land, the transfer duty will initially be charged at the general rate. If you later choose to build a on the land and the transaction is eligible to receive the FHOG, you can apply for a refund and a reassessment of the duty.

For full details please visit the WA Department of Finance website or ask your qualified Mortgage Broker.

Applying for the FHOG and / or various duty concessions can be a little tricky. While you can check eligibility and apply online by yourself, we recommend you apply through the assistance of one of our FHBA Mortgage Brokers.

Our FHBA Mortgage Brokers are not only experts at finance matters such as home loans and the FHOG, but they are also experienced in helping first home buyers everyday. Our service is free of charge (should you proceed with a home loan option through us). We can check your eligibility, apply on your behalf and be with you every step, providing you with peace of mind that you haven’t missed anything.

  • To learn more about our FHBA Mortgage Broking service and have one of our experts assist you with your application, please visit our FHBA Mortgages home page.
  • To apply online by yourself visit the WA Government website and follow their instructions carefully.

You can find a great range of FHOG eligible homes at FHBA New Homes. Did you know that FHBA New Homes gives you access to the most FHOG eligible homes under one roof?

FHBA New Homes works a bit like a Mortgage Broker (but rather then help you find a home loan, our New Home experts help you find a ‘new’ home). Your New Homes Expert can explore different homes from different developers to help you find a suitable home for your Great Australian Dream.

Like our Mortgage Broking service, FHBA New Homes is a free of charge service, as we are paid a referral fee from the property developer you choose to proceed with (if you do decide to proceed). This means we won’t be paid until you have decided on a home you like.

If you haven’t been introduced to FHBA New Homes Expert yet send us an email (enquiries@fhba.com.au) or complete the enquiry form and we will be sure to have your local New Homes Expert call you ASAP.

If you are thinking of purchasing an established (existing) home then:

  • Unfortunately you will not be eligible for the WA FHOG, as one of the requirements is that it must be a ‘new‘ home
  • However, you may still be eligible for transfer duty concessions (see ‘are there any other entitlements I might be eligible for’ above)

If you would like assistance with purchasing an established home we recommend you book in a free consultation with an FHBA Service Community Buyers Agent.

CHECK ELIGIBILITY FOR GOVERNMENT INCENTIVES

FHBA’s new & innovative Eligibility Estimator allows you to self-estimate how your savings are tracking and whether you have enough saved to qualify for a home loan. Upon completion, we will instantly send you a complimentary Australian Property Monitors Postcode Report (Valued at $39.95)

Check how your tracking in 60 seconds!

Disclaimer: The FHBA Eligibility Estimator is intended as an approximate guide only. It uses a mixture of the data you input, median property prices from APM PriceFinder and estimated purchasing costs. You should not rely on the results of the Eligibility Estimator. Please contact an FHBA Coach who can arrange a more comprehensive estimate and advice based on your personal circumstances from a licensed professional.

We Need A Few Of Your Details

To see if your current savings are enough to buy in your selected suburb and to send you a complimentary FHBA Australian Property Monitors (APM) comprehensive postcode report for your selected suburb

Deposit Guide

  • 5%

    Deposit Amount:

    Lenders Mortgage Insurance:
    (Indicative Only)

    Stamp Duty:
    (Indicative Only)

    Mortgage Reg. Fee:

    Transfer Fee:

    Other Costs: $ 3,000

    Total Deposit + Costs Required:

    Surplus / (Deficit):

    Your Current Savings:

    First Home Owner Grant:

  • 10%

    Deposit Amount:

    Lenders Mortgage Insurance:
    (Indicative Only)

    Stamp Duty:
    (Indicative Only)

    Mortgage Reg. Fee:

    Transfer Fee:

    Other Costs: $ 3,000

    Total Deposit + Costs Required:

    Surplus / (Deficit):

    Your Current Savings:

    First Home Owner Grant:

  • 20%

    Deposit Amount:

    Lenders Mortgage Insurance:
    (Indicative Only)
    Nil

    Stamp Duty:
    (Indicative Only)

    Mortgage Reg. Fee:

    Transfer Fee:

    Other Costs: $ 3,000

    Total Deposit + Costs Required:

    Surplus / (Deficit):

    Your Current Savings:

    First Home Owner Grant:

5%

10%

20%

Deposit Amount

Lenders Mortgage Insurance
(Indicative Only)

NIL

Stamp Duty
(Indicative Only)

Mortgage Reg. Fee

Transfer Fee

Other Costs

$ 3,000

$ 3,000

$ 3,000

Total Deposit + Costs Required

Surplus / (Deficit)

Your Current Savings

First Home Owner Grant

Fill in the form below to get your complimentary personalised deposit guide & your Suburb's Data report emailed to you within 48 hours!

TALK TO AN EXPERT

At FHBA we are passionate about helping aspiring first home buyers purchasing their first home.

Complete the form below for an obligation free call back from one of our experts.

We can help you with your first home search, home loan needs, Grant applications and/or any questions you may have.

Disclaimer: The information above is general in nature and should not be solely relied on. The source of this info was Finance WA. This factual information was true at the time of writing (10 January 2017). FHBA recommends you speak with a licensed professional about your circumstances so you can find out if you are eligible for any Government assistance. FHBA does not recommend that you buy a new property simply so you can receive Government assistance. For more information on using our website please read our full Terms & Conditions policy.