It is now widely known that the First Home Owners Grant in Western Australia will be reducing, due to a change in the state government. The grant, previously set at $15,000, will return to its original $10,000. This may feel a huge blow for those saving for a deposit for their first home in Western Australia, but with house prices remaining relatively stable, there are lot of possibilities for anyone wanting to build a house in WA.
Our friends at Step One Homes, a builder in Western Australia, have explored what this reduction to the grant will mean for you. If you are planning to build in WA and are worried that this change will affect your ability to get into your new home, make sure you speak to one of our expert consultants, who can help you find find a builder that will get you the most bang for your buck.
What’s The Panic Folks?!
Unfortunately, the boost to the First Home Buyer Grant will disappear on 30 June this year. The surprise announcement seems to have caused more panic than Kanye West at a music awards ceremony.
First homebuyers are being urged to act now (even sooner if they can!) so they don’t miss out on the extra $5,000 and end up having to make do with just $10,000 of free money towards their first home.
Whoa! What’s the panic folks?!
Sure, $5,000 would be a nice little extra, but do you really want to be making such a big (huge, in fact) house-buying decision based on a mid-year backflip and a date on the calendar?
Here’s a fun fact for you … $5,000 is about 1% of the total you’re likely to spend on a house and land package (to be precise, it’s 1.25% if you’re spending $400,000, or 1.75438596% if you’re going for our most affordable package at $285,000. See, we like keeping things real.)
At Step One we don’t believe you should be rushed into anything if you’re not ready. By all means, pick up the pace a little if you’re well on the way to signing on the dotted line. Getting in before 30 June secures you a handy bonus.
But if you’re just starting to think about buying your first home or keen to explore your options, then we don’t think the disappearing FHOG bonus is anything to panic about.
If you want to cut through all the hype and find out where you stand, our Step One first home gurus are standing , ready to answer all your questions and tell it like it is.
For something different, Why building inspections are so important for Perth buyers.
Securing A New Home Sooner
If you’re worried about getting into a new home now that the FHOG has been reduced in WA, there are many alternatives for you. Make sure that before you make any decisions you compare all of the options. This is made easier on the iBuildNew website where you can compare house designs, builders, land estates and house and land packages from hundreds of different providers. Alternatively if you would like to speak to one of our expert consultants for important advice you can call them 7 days a week on 1800 184 284, or book a call now.
Let us do the legwork for you.
- We’ll ask the right questions to better understand your needs
- We’ll create a recommended shortlist ideally matched to you
- We’ll answer specific questions or concerns related to home building, land purchasing or financing
Zoe Langenberg
Zoe is passionate about coffee and interior design. You can find her most weekends exploring an art gallery or devouring a good book.
1800 184 284
