First Home Owner Grant (FHOG)
Ready to buy your first home? The First Home Owner Grant (FHOG) is here to give you a helping hand! This one-time cash boost from the government is designed to make it easier for first-time buyers like you to build a brand new home sweet home.
Here’s how it works: you get a cool $10,000 to put toward your house deposit! The best part?
This money isn’t handed to you directly; it goes straight to your lender to help lower the deposit you need. So, it’s like your own little financial cheerleader, shouting, “You got this!”
The grant is paid either when you settle on your home or at the slab-down stage, depending on your lender’s rules.
In a nutshell, the government is giving you $10,000 to help you build your dream home faster! Just remember, there are some eligibility requirements you’ll need to meet.
Key eligibility requirements
Age:
Be 18 years or older at the time of application.
Residency:
At least one applicant must be an Australian citizen or permanent resident.
First home buyer:
You must not have previously owned a residential property in Australia or received the FHOG.
New home:
You must be buying or building a new home in Western Australia.
Occupancy:
You must move into the home within 12 months of completion of the eligible transaction and live there for at least six months.
Value limit:
The value of the home and land must not exceed the relevant threshold, which is up to $750,000 for the Perth metropolitan area.
Relevant interest:
Applicants must hold a relevant interest in the land and home in their own capacity.
Not for investment:
The grant is not available for properties purchased as investments.
Not through trusts or companies:
The grant is not available for properties purchased through a trust or company.
