First Home Owners Grant in WA: A Simple Guide

If you’re a first home buyer in Western Australia, there are several government grants and schemes available to help make your dream of homeownership a reality. The First Home Owners Grant (FHOG) is a popular scheme that is available to Western Australian residents who are ready to start building their new homes.

Whether you’re just starting your research or ready to apply for the grant, our simple guide will tell you everything you need to know.

What is the First Home Owners Grant?

The First Home Owners Grant (FHOG) is a one-off payment of $10,000 that supports and encourages first home builders to construct new homes. This home is to be the principal residence of the grant recipient. If two individuals are building a house together, they may apply for only one grant.

This grant is not issued for renovations on an existing home property, the funds are only granted for building a new residence or if you buy an existing home, you will save only on stamp duty costs.

Applications are fairly straightforward and are made with your finance broker or lender, once you start looking to build your new home.

How Much Money Do You Receive from This Grant?

The amount of this grant is $10,000, and it is issued to a home builder (or builders) to assist with the new home building costs and is issued to enable first home buyers in Perth and throughout WA to experience their dream of building and owning a new home.

Eligibility for the First Home Owners Grant in Western Australia

The following criteria will be required for eligibility when applying:

• Must be 18 years of age
• Be an Australian citizen or permanent resident
• Have never owned a property before (or not owned one in the last 12 months)
• Be building a new home (not an established home)
• Be using the property as your principal place of residence

How Do I Apply for the First Home Owners Grant in Western Australia?

Applications are fairly straightforward and are made with your finance broker or lender, once you start looking to build your new home.

If your application is approved, the grant will be paid directly to your financial broker or approved lender/agent within 14 days after the settlement. If you are obtaining a house and land package for more than $530,000, you will be responsible for paying stamp duty. However, you may be approved for the First Home Loan Deposit Scheme.

As a recipient of the First Home Owners Grant in Western Australia, you are required to start living in your newly built home within 12 months following the completed eligible transaction. After moving in, you must reside continuously in this home as your principal residence for no less than six months.

Frequently Asked Questions about First Home Owners Grant

• Can FHOG Recipients Receive Additional Funding?

Yes, in addition to the amount of $10,000, it may be possible for grant recipients to apply for other financial funding options. Aspire Building Brokers can help you find the best solution for your needs.

• How Long Is the FHOG Expected to Be Available in WA?

At present, there is no definite ending date planned for this grant, however, there is no guarantee that the current level of grant funding will be extended into the future. For this reason, if you plan to build your first home, it is best to start as soon as possible to avoid missing out on this very helpful grant.

• Can Permanent WA Residents Receive This Grant Twice?

No. This grant is typically awarded once to new home builders. It is not intended for current or previous home builders who are building a second home.

How Aspire Building Brokers Can Assist with Obtaining Your Grant

Our expert team know just how exciting building your first home can be. We are strongly committed to helping first home buyers achieve their dreams of building and owning their very first home.

We align ourselves with a superb network of builders and lenders, and the Aspire team will ensure that you have a full understanding of the First Home Owners Grant in WA and other financial options that can make your dreams of owning a home become a reality.

Get in touch with us today.