Change to the WA First Home Owners Grant

With a new state government in Western Australia, adjustments to many of the policies announced by the previous Liberal government have been announced. This includes a major change to the Western Australian First Home Buyers Grant. At the start of 2017 it was announced that First Home Buyers in WA could access an extra $5,000 to contribute to their new home for a 12-month period, bringing the total grant to $15,000. Unfortunately, it has been announced that this will end on the 30th June, 6 months before the original plan. Treasurer Ben Wyatt said that despite the proposed timeline for the grant, the Labour party has been forced to end the boost earlier than expected due to financial pressure. Those purchasing property in WA will still be able to access the original $10,000 FHOG, making owning your first home still possible for many. There is still hope for those who want to build a new home or purchase a house & land package in WA, with prices sitting well below equivalent median house prices in Victoria & New South Wales.

Are you eligible for the First Home Owners Grant?

If you are interested in building a new home in Western Australia, or anywhere in Australia, make sure that you take full advantage of the government incentives that are still in place. Each state has slightly different schemes and eligibility requirements, however, generally applicants must fit the following criteria:

• No previous history of owning residential property in Australia
• Must occupy the new home as your principle 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

For more information for both the FHOG in WA and across Australia, check out the appropriate government state website

Assistance from iBuildNew

Using iBuildNew’s complimentary service means that you can make the most of your FHOG. Our expert consultants and step you through the prebuilding process, and connect you with builders who will suit your needs and requirements. Comparing builders and house designs means that you can compare all your options. Don't forget your also entitled to the first home super save scheme. You can contact our consultants 7 days a week on 1800 184 284,