FIRST HOME OWNERS GRANT (FHOG) WA
August 14, 2019
In the year 2000, the first homeowner’s grant (FHOG) was introduced to WA. Over the 19 years since, the FHOG has changed numerous times & the amount rebated to the 1st homebuyer has changed significantly.
For example, after the GFC of 2008, a FHOG grant of up to $21,000 was available to first home buyers building a new home.
Today, the FHOG is offering the following assistance to 1st home buyers in WA, i.e.
| Cash
Grant | Discounted Stamp Duty |
Established previously lived
in home | $0 | – $0 stamp duty to a purchase price of $430,000
– Discounted stamp duty $430,000
– $530,000 purchase price |
New established home, never
lived in | $10,000 | – $0 stamp duty to a purchase price of $430,000
– Discounted stamp duty $430,000
– $530,000 purchase price |
| Block & build construction | $10,000 | – $0 stamp duty on land to a purchase price of $300,00
– Discounted stamp duty $300,000
– $400,000 land purchase price |
First Home Owners Grant Facts!
There is much little-known information about the FHOG, here are a few facts:
- If you have owned vacant land or a commercial property you may still qualify for the FHOG
- If you have owned a residential investment property and never lived in that property, then you may still qualify for the FHOG
- If you as a first home buyer purchase a property with a person that is not a first home buyer, then you will not qualify for the FHOG
- To qualify for the FHOG, then you must move into the property within the first 12 months of settlement and you must live at the property for at least 6 months.
- If you purchase a property together with another first home buyer, then you must both reside at the property to be eligible for the FHOG.
- Even if your FHOG application does not involve you receiving any cash grant (i.e. buying a previously lived-in home), you still have to apply for the FHOG to get any stamp duty discount you may be entitled to.
- The purchase price of the home or the purchase price of the block and building contract cannot exceed $750,000 (south of the 26th parallel), $1 million north of the 26th
Your Better Choice Mortgage Broker will process your FHOG application simultaneously with your finance application to buy the home or build.
To see if you qualify for the FHOG go to http://www.finance.wa.gov.au/cms/State_Revenue/FHOG/First_Home_Owner_Grant.aspx
or call State Revenue on 1300 363 211 or (08) 9262 1299. Then talk to a Better Choice Mortgage Broker at betterchoice.net.au or email bdm@betterchoice.net.au or on Facebook.
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