First Home Owners Grant And Assistance In Western Australia

In Western Australia, First Home Buyers of new homes can apply for a First Home Owners Grant of $10,000. A property value threshold applies depending on where you live it is either $750,000 or $1,000,000. You can check your eligibility and threshold here.

While the First Home Owners Grant is only for new homes, first home buyers purchasing established homes can still be eligible for the first home owner rate of duty, which you can find out about here.

Both of these payments require you to make an application, which is processed and if you meet the criteria, you will be paid at a specific stage in your home purchase process, depending on the type of home you are buying or building.

One of the reasons so many state governments now only offer the First Home Owners Grant to new homes being bought or built is to have it act as an incentive to build instead of buy. Many areas have housing shortages and this helps create more housing as well as assisting with affordability particularly for first home buyers.

For more information on the First Home Owners Grant in Western Australia and any other concessions you might be entitled to, head to this website.

For help finding the right home loan for you and applying for the First Home Owners Grant, click here to make an enquiry and be connected with a MoneyQuest broker in your area.

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This article is written to provide a summary and general overview of the subject matter covered for your information only. Every effort has been made to ensure the information in the article is current, accurate and reliable. This article has been prepared without taking into account your objectives, personal circumstances, financial situation or needs. You should consider whether it is appropriate for your circumstances. You should seek your own independent legal, financial and taxation advice before acting or relying on any of the content contained in the articles and review any relevant Product Disclosure Statement (PDS), Terms and Conditions (T&C) or Financial Services Guide (FSG).

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