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For most Australians, buying a home is the most important financial decision they will make in their lifetime.
It’s important for our economy too, because housing construction provides employment for tens of thousands of Australians and is considered a key barometer for the economic health of our nation.
Governments, both State and Federal, have a range of Grants and initiatives in place specifically designed to encourage and assist more Australians to buy a new home…especially first home buyers.
In Western Australia currently, from 25 September 2013, the First Home Owner Grant for purchasers buying or building a new home may be eligible to receive a grant of $10,000, capped at $750,000 or $1,000,000 if located north of the 26th parallel of South Latitude.
On 27 December 2016, the Government announced a temporary $5,000 boost to the FHOG. Eligible first home buyers who enter into a contract between 1 January and 31 December 2017 to purchase or construct a new home, and owner builders who commence laying foundations of their home between those dates, will receive the boost.
Grants do change occasionally and the rules vary from state to state, so it’s important to research all developments before you apply.
For more information about home owner grants in Western Australia, please visit:https://www.finance.wa.gov.au/cms/State_Revenue/FHOG/About_the_First_Home_Owner_Grant.aspx