“I’m going to miss rent inspections and pestering landlords,” said no one ever.
Ready to bid sayonara to your not-so beloved rental? We’ve totes got your back.
Obvs owning your first home means having some moola in your bank account, soooo we recon there is a good chance you’ve heard of the First Home Owner Grant.
Woookay, so you might be wondering;
How much is the First Home Owner Grant (FHOG) worth?
Am I eligible for the Grant?
Do I have to pay the FHOG back?
The internet – it’s a weird, wonderful place (more weird tbh), so we’re scoured it for your most-asked questions about the FHOG and set the savvy FHOC team to answering them for you. DW, we’ve got your back.
First things first, what exactly is the First Home Owner Grant?
The Grant is a one-off payment that helps first home buyers to build a new residential home. The amount, you ask? A generous $10,000 from the WA State Government! Get this – you NEVER have to pay it back. This is not a loan. It’s yours for eveeer and eveeer! P.S. It’s a superrr easy mistake to make, so we’ll forgive you 😉 Try not to call it the First Home Owners Grant, because it’s the First Home Owner Grant peeps. If you are in a couple, only one of you can qualify for the grant (you cannot get the $10k twice. Booooo).
FHOG Eligibility criteria
We’re getting Al Pacino vibes peeps, because the First Home Owner Grant is one hellovaa’ offer that we just can’t refuse. Ooooooo did we tell you that there are no income assessments either? So, it doesn’t matter what you earn! Yiewwww! *Cue happy dance*
Keep reading coz we cover all the deets about eligibility!
The First Home Owner’ Grant explained
To assist first time buyers like you to secure their first home, the West Australian Government will pay $10,000 towards the purchase price. To qualify for the First Home Owner Grant, you must not have previously owned a residential property, must be over 18, must be a permanent Australian resident and need to live in the new home for at least six months within the first 12 months from handover.
- Do I have to pay the First Home Owner Grant back?
Nup. Nada. Zero. Zilch. Nope. Nope. Nope.
You will not have to pay a cent fam. Life really is a wonderful thing sometimes.
- Who is eligible for the FHOG?
If you have never owned a home before, there is a pretty good chance you’ll be eligible for the grant.
Think of the FHOC team as your personal cheerleading squad – pom poms, cheesy moves (Bring It On, anyone?!) and all. We are cheering you on to #getthatgrant!
Here is a quick lil’ list of what you need to be eligible:
- You need to be 18 years or over (at the time of applying for the FHOG)
- Be an Australian citizen or permanent resident
- Be a real-life person (no trusts or businesses)
- Live in your new humble abode for a continuous period of six months minimum within the first year
Sorry folks, but you cannot have:
- Owned residential property in Australia prior to applying to the FHOG
- Received the FHOG grant before in Australia (This includes you/your partner)
- A House & land package worth $750k or more
Psssst… if you are keen to own your own home with your partner, only one of you can claim the grant. 👎
- How much can I spend with the First Home Owner Grant?
$750,000 is the maximum you can spend when looking for a house and land package, peeps.
Psssst…. our affordable house and land packages mean you probs won’t pay anywhere near this amount for a home. #winnerwinnerchickendinner
- Do I have to pay stamp duty?
How bout No! 😃 WA homebuyers have it pretty good if you ask us, because there’s a bunch of exemptions in place that allow people to avoid paying stamp duty.
- If you purchase vacant land to build your very first home, you do not have to pay stamp duty (as long as you’re not paying over $300,000).
- If the land you purchase is valued between $300,000 and $400,000, you (as a first home buyer) could be entitled to paying a reduced amount of stamp duty. #Win
- Does the FHOG apply to House & Land Packages?
Yesereeebob! It sure does. We are inspired, yo. #Getthathouseandlandpackage is going to trend. We can feel it.
Do You Qualify?
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