WA First Home Owners Grant boost- For Building a New Home

Good news for first home builders in WA. The government has announced that during 2017 the First Home Owners Grant (FHOG) will be increased. The incentive will jump from $10,000 to $15,000 for 12 months. This will allow those eligible to access the additional $5,000 when purchasing or building a new home.

The stimulus package will allow more first home buyers to enter the market, as well as creating approximately 2,000 new jobs. “This boost will provide more families with an opportunity to get into the housing market,” said Premier Colin Barnett. Buyers still have access to the duty-free or reduced duty when purchasing vacant land up to $40,000. If you are a first home buyer, 2017 has become an attractive year to start building a new home.

Eligibility Interested in building a new home? Those eligible for this FHOG boost must fit the following criteria:

• No previous history of owning residential property in Australia.
• Must occupy the new home as your principal place of residence for at least 6 months within 12 months of construction completion.
• Purchasing or building a new home under $ 750,000 or $1,000,000 depending on your location.

To get more information on the First Home Owners Grant in Western Australia or check your eligibility refer to the below link. Alternatively, speak with one of the iBuildNew expert phone consultants who can provide free and independent advice - call 1800 184 284. www.finance.wa.gov.au/cms/State_Revenue/FHOG/First_Home_Owner_Grant.aspx