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      WA Government Incentives to Reduce Home Cost for First Timers

      WA Government Incentives to Reduce Home Cost for First Timers

      first home owner grant

      You reach an important milestone in purchasing your first home. To make your dream of buying your first home true, there are various incentives available from the Government of Western Australia that is aimed to reduce the cost burden. Here are few of the incentives available, and if you are eligible, you can use them to purchase your first home.

      The available incentives

      First Home Owner Grant
      In Western Australia, the size of the First Home Owner Grant varies as per the area of building or buying a property. For a property worth $750,000 and situated south of latitude 26 (Perth included), the grant amount could be up to $10,000; and the grant size remains the same for a property north of the 26th parallel of latitude, and valued up to $1 million.
      However, if it is an established home or a home that had a previous occupant, FHOG is not applicable. But if the new house cost is not more than $530,000, you can apply for First Home Owner Rate of Duty (FHOR).
      The construction must begin within 26 weeks of the signing of the contract and has to complete building work within 18 months of the start of construction. The applicant must be living in the new home for a minimum of six months.
      For further information, visit the website of the Government of Western Australia’s website.

      Exemptions and Concessions Available
      First time home buyers are not qualified to buy an established home with the FHOG. However, you can apply for certain duty exemption or concessions that would reduce or abolish the stamp duty necessary. To be eligible:

      – Your date of the contract of sale to buy your first home must be on or after 1 July 2017
      – If the home you plan to buy has a dutiable value of $530,000 or less, you are eligible for the first home buyer duty exemption, or
      – If the home you plan to buy has a dutiable value of 530,001 to $750,000, you are eligible for the first home buyer duty concession
      – The buyer of the property fulfils the eligibility requirements for the FHOG
      – At least one buyer meets the residency requirements

      Applying Online
      We can guide you all through the application process for your FHOG or available concession online on the State Revenue Office Duties website. Applying through us means you can make the most of your FHOG. Our expert consultants are there to take you through all the steps successfully.
      For further information on buying your first home, please get in touch with one of our friendly staff at Waterways Conveyancing on (08) 9586 9992 or mail us at lyn@waterwaysconveyancing.com.au

      • 19 Feb 2019
      • waterwaysconveyancing
      • Post Tags:
      • conveyancing services WA
      • FHOG
      • first home owner grant
      • first time home buyers
      • property conveyancing Perth
      • real estate conveyancer Perth
      • real estate conveyancing services mandurah
      • Posted In:
      • conveyancer
      AUTHOR

      waterwaysconveyancing

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      5 comments
      • Elise
        22 Feb 2019 at 10:05 am
        REPLY

        The blog is really helpful to understand the initiatives offered by the government. The knowledge shall help me in making any property purchase in future.

      • Joyce
        28 Feb 2019 at 10:41 am
        REPLY

        Thank you. From your article I came to know about various things such as the first home owner grant, exemptions and concessions as a home buyer.

      • Brandon
        28 Feb 2019 at 10:42 am
        REPLY

        I had a lot of doubts about the legal requirements or various incentives offered by the government. Your blog helped in understanding a lot of these points. Thanks.

      • Mario
        18 May 2019 at 10:32 am
        REPLY

        A nice article on first home owner grant in western Australia. I plan to avail your services when I purchase my first home to avoid existing rules and regulations of the FHOG, and make the whole process easy and effective.

      • Dorothy
        16 Jun 2019 at 8:00 pm
        REPLY

        I appreciate Waterways Conveyancing for such an informative blog regarding first home purchase. Buying a property for the first time is never an easy task in Western Australia and your blog wonderfully has jotted down all the details such as FHOG, FHOR, available exemptions and concessions one should be aware of. Thank you for such a wonderful resource.

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      Waterways Conveyancing is an independently owned and operated Settlement Agency, which commenced operations in 2005.

      Specialising in real estate conveyancing and settlements, the business has grown to become the largest independent settlement agency in WA’s Peel Region.

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