Western Australia’s First Home Buyer Benefits – What’s on Offer

If you’re buying your first home in WA, there are several grants and concessions available that can help you get into the market sooner and reduce your upfront costs. Here’s a breakdown of what’s currently on offer and who can apply.

1. First Home Owner Grant (FHOG)

The FHOG is a one-off payment to help first home buyers purchase or build a new home.

What you get:

• $10,000 (or less if the total property cost is under that amount).

Eligibility:

• You and your partner (if applicable) must be at least 18 years old.

• Must be an Australian citizen or permanent resident.

• You and your partner must never have owned residential property in Australia.

• The home must be new (never lived in) or substantially renovated.

• Must be used as your principal place of residence for at least 6 continuous months within 12 months of settlement or completion.

• No income or asset test applies.

2. First Home Owner Rate of Duty (FHOR) – Stamp Duty Concession

This is a concessional transfer duty rate for eligible first home buyers.

What you get:

• Full exemption from stamp duty for properties valued up to $430,000.

• Concessional rates apply for properties valued between $430,001 and $530,000.

Eligibility:

• Must meet FHOG eligibility requirements (even if you don’t receive the grant).

• Applies to both new and established homes.

• The home must be your principal place of residence.

3. Stamp Duty Exemption/Concession on Vacant Land

If you’re buying land to build your first home, you may be eligible for duty relief.

What you get:

• Full exemption on vacant land valued up to $300,000.

• Concessional rates apply for vacant land valued between $300,001 and $400,000.

Eligibility:

• Must meet FHOG eligibility requirements.

• Must build your first home on the land and occupy it as your principal place of residence.

4. Home Buyers Assistance Account (HBAA)

The HBAA helps with some of the incidental costs of buying your first home.

What you get:

• A grant of up to $2,000 to reimburse expenses such as mortgage registration fees, settlement agent fees, and inspection costs.

Eligibility:

• Property must cost $400,000 or less.

• Must be purchased through a licensed real estate agent.

• Must be your principal place of residence.

• Must meet FHOG-style eligibility requirements.

More Information: https://www.wa.gov.au/organisation/department-of-treasury-and-finance/first-home-owner-grant-fhog