The FHOG in WA is currently $7000 and applies to residential dwellings only. It does not apply to vacant land, business premises, holiday houses or renovations to an existing home. (NB. There are no income or assets tests to qualify for the FHOG.)
An application for the FHOG can be made once a contract to purchase or build a home has been signed and dated by all parties to the contract and appropriately witnessed or, where the application is made as an owner-builder, when the foundations have been laid. (NB. An application for the FHOG must be made within 12 months of completion of the eligible transaction.)
Some of the eligibility clauses for the FHOG include:
- Each applicant must be a natural person (i.e. not a company or trust)
- Each applicant must be 18 years of age or over at the commencement date of the eligible transaction
- At least one of the applicants must be an Australian citizen or permanent resident at the time of making an application
- Each applicant and/or their spouse cannot have previously received a FHOG under this scheme
- Each applicant and/or their spouse cannot have owned residential property anywhere in Australia before July 1, 2000
- Each applicant must occupy the home being purchased or built as their principal place of residence for a continuous period of at least six months, commencing within 12 months of completion of the eligible transaction
- For eligible transactions commencing on or after January 1, 2010, the total value of the home must not exceed the cap amount – (a) $750,000 if the property is located south of the 26th parallel of South Latitude; or (b) $1,000,000 if located north of the 26th parallel of South Latitude
The Home Buyers Assistance Account, established under the Real Estate and Business Agents Act 1978, also provides first home buyers with financial support.
Subject to eligibility, first home buyers can receive a grant of up to $2000 when they purchase an established or partially built home through a licensed real estate agent for $400,000 or less.