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Perth First Home Buyers Grant

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OSINSKI FINANCE

Perth First Home Buyers Grant

Helping You Understand How Money Works & Can Work For You

Serving helpful financial choices that make major positive impacts

GET FREE ADVICE FROM A LOCAL EXPERT

Helping each client to understand how money works and how minor choices can have major impacts on their financial lives.

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OSINSKI FINANCE

Perth First Home Buyers Grant

Helping You Understand How Money Works & Can Work For You

Serving helpful financial choices that make major positive impacts

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GET FREE ADVICE FROM A LOCAL EXPERT

Helping each client to understand how money works and how minor choices can have major impacts on their financial lives.

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Helping each client to understand how money works and how minor choices can have major impacts on their financial lives.

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The monumental step of becoming a homeowner in Western Australia can be thrilling yet overwhelming. If you’re ready for the big move but worried about finances, you may be eligible for a WA First Home Owners Grant (FHOG). These grants are the easiest way to buy property without paying so much upfront.


The FHOG is a government incentive designed to assist people to buy or build their first home. In other words, the government will give you $10,000 to help with your advance payment.


Getting this grant isn’t so straightforward. At Osinski Finance, we understand that the complexities can be off-putting at best. Our job is to simplify things for you. We'll help you do the research, ensure that you meet all the eligibility criteria, and maximise this opportunity. Our consultants will walk you through how to access Government support and save your money!

We’ll be there every step of the way to guide you through the entire home loan process – from application to approval.

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We're dedicated to helping homeowners make the most informed mortgage decision possible. One that integrates your personal financial plan and major life goals, such as retirement and wealth accumulation. There’s no cost to our services, so you have nothing to lose.

There are different ways to purchase your first home. That's why we're committed to helping every first-home buyer Perth unlock the benefits of the First Home Owners Grant. With our expertise and personalised approach, you can confidently turn your homeownership dream into a reality. Don't let the complexities of the process scare you—let our experienced first home buyers broker handle the legwork while you focus on building a bright future in your own home.

In this guide, we’ve curated everything you need to know about first time home buyers grant WA. Read on to find out more about the type of home grants available, eligibility requirements, and how Osinski Finance can help you.

How Osinski Finance Can Help Your application for the FHOG in Perth

At Osinski Finance, we specialise in assisting you to navigate the first home buyers grant, Perth WA, from home loan applications to approval. Since grant conditions vary in different states, you should understand how these nuances impact your chances of eligibility.


The home-buying process is quite an elaborate one. We break it down into stages, such as property research, finance pre-approval, property inspection, making an offer, and settlement. Walking with you through these hectic stages ensures your smooth transition to a homeowner.

For instance, the first home builders grant WA is only available for people who want to buy or build a new house below a specific value in selected locations. This grant is for Australian citizens or permanent residents who want to make their first home their primary residence within 12 months of settlement. You may not be privy to this information until you interact with licensed professionals, specifically a first home buyers broker.


Additionally, your first-home buyer mortgage broker helps you secure the perfect lender for home loans. There are diverse first home buyer loans in Perth and mortgage products that can help you purchase your first home. We sieve through the lot, and search for special schemes specific to Western Australia to help you save money on getting your home.


There’s more. Consulting with our first home buyer broker will also provide expert advice and resources to educate you on the best mortgage systems. Your broker will help you navigate the property market, and maximise the use of government grants. We aim to provide a wealth of expertise and valuable information to enable you to make informed decisions regarding your first home.

WE MAKE APPLYING FOR A FIRST HOMEOWNERS GRANT & LOAN A BREEZE:

Book an Appointment

We'll schedule a convenient time to meet in person or online and discuss your goals, opportunities, and financial situation.

Provide income documents

You’ll need to complete a comprehensive financial questionnaire to help us gather the necessary information to determine your best options.

Review

We'll analyse your current position by considering income, deposit, and eligibility for grants and assistance programs to recommend the best lenders and loan options for you.

Presentation

During our meeting (face-to-face or virtual), we'll present a range of customised first home buyers loans in Perth from our portfolio of lenders. These options are carefully selected based on your unique financial circumstances.

Prepare Application

We'll prepare and submit your application to a chosen lender. Once you've decided on the loan option to work with, we'll take care of the entire application process.

Approval and Settlement

After submitting your application, we'll work closely with the lender, acting as a liaison between you and them. We get the process moving quickly.

Update and Ongoing Advice

Our commitment to you extends beyond the approval and settlement of your loan. We'll keep you updated on all loan-related information, including any changes in interest rates or terms.

Buy Your First property with the First Home owner Grant

Since there are a myriad of initiatives available to help you get your first home, you could easily miss out on the right opportunities. That’s where we come in. For first home buyers in Perth, our brokers at Osinski Finance study your circumstances to prepare you for the grants most convenient for you. We connect you to the right opportunities at the most competitive rates from reputed lenders.


Here are three main incentives & grants, including the 1st home buyers grant and their corresponding eligibility requirements:

First Home Owners Grant PERTH (FHOG):

The First Home Owner Grant provides a one-time payment for the deposit or other costs of buying or building a home. Eligible first-home buyers in WA may be entitled to receive a grant to help them with the purchase or construction of their first home.



This is either a grant of $10,000 to assist with constructing your first home and/or a Stamp duty waiver/concession on purchasing land for your first home. If you buy an established home, you get a waiver of stamp duty if purchasing under $430,000; or a discount on stamp duty when purchasing between $430,000 and $530,000.

First HOME OWNERS Grant— perth, Western Australia (FHOG):

Applicant requirements:

  • You must be at least 18 years old at the time of application.
  • At least one of the applicants (in the case of partners) must be an Australian citizen or a permanent resident.
  • You should not have received any other grant from government agencies in Australia.
  • You are not a previous recipient of the First Home Owners Grant

Residence requirements:

  • You must be buying or building your first home.
  • You need to start living in your home within 12 months of completing the transaction.
  • The property must be your principal residence for six months within the 12 months after settlement/building your new home.
  • If you’re purchasing the home as a trustee for a person with a disability, they must meet the qualifying criteria and residence requirements.

Value of the home:

  • The cap on the total value of the property depends on where the home is located.
  • South of the 26th parallel - If the value of land and building is up to $750,000.
  • North of the 26th parallel - if the value of land and building is up to $1,000,000.

Note: When you apply through an approved agent like Osinski Finance, the First Home Owners Grant will be paid in this format:

Buying At settlement
Building After the first progress payment, and name is registered on the certificate of title
Owner Builder When evidence that the home is ready for occupancy and the name is registered on the certificate of title.

Home Buyers’ Assistance Account:

The Home Buyers’ Assistance Account is another incentive available to eligible first home owners in Perth, WA. This program supports funding for incidental expenses associated with buying a home under $400,000.


Selected applicants receive a grant of $2,000 to sort incidental expenses. Incidental expenses can include mortgage registration fees, solicitor or conveyancing fees, and valuation fees. The money can also pay inspection fees, establishment fees, mortgage insurance premiums, and lending institution fees associated with the purchase of your first home.

Eligibility

  • The cost of your first home should be at most $400,000.
  • You must be planning to buy a home, not build one.
  • The property must be secured through a licensed real estate agent in Western Australia.

Note: The Home Buyers' Assistance Account is separate from the First Home Owner Grant and has its own application process and requirements (source)

First Home Guarantee

The First Home Guarantee Grant (FHBG) helps people acquire a first home buyer grant Perth, WA to purchase a home sooner. Currently, 35,000 FHBG places are available till 2025 to every eligible first home buyer in Perth.



The Scheme is administered by the National Housing Finance and Investment Corporation (NHFIC) on behalf of the Australian Government.

  • Under the FHBG, part of an eligible first home buyer’s home loan from a Participating Lender is guaranteed by NHFIC. This grant permits to purchase by eligible first-home buyers Perth homes with as little as a 5% deposit without paying Lenders' Mortgage Insurance.
  • Any Guarantee of a home loan is for up to a maximum amount of 15% of the property's value (as assessed by the Participating Lender).
  • This Guarantee is not a cash payment or a deposit for a home loan.

Eligibility

  • You must be a first home buyer.
  • You can apply as an individual or couple.
  • Applicants must be Australian citizen(s) prior to applying for the loan.
  • You must be at least 18 years of age.
  • Applicants must be earning up to $125,000 as individuals or $200,000 as couples based on the Notice of Assessment issued by the Australian Taxation Office.

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Even if you don’t qualify for any of the above, other grants to help you purchase your first home in Perth, WA include:

Stamp Duty Concession

A stamp duty exemption can help reduce the upfront costs of buying a home and make homeownership more accessible for first-time buyers.



A First-home buyer—Perth, WA may be eligible for a stamp duty exemption or concession to save more money while purchasing a property. The stamp duty exemption is typically applicable to the purchase of a home as the buyer's principal place of residence.

Eligibility

  • You need to be a first home buyer.
  • You must complete an application for the First Home Owner Grant in Perth to apply for stamp duty exemption. The rule is also applicable if you’re buying an established home.
  • If you don’t qualify for a FHOG, you can still obtain stamp duty concessions because you’re buying an established home.
  • The rate of exemption or concession varies with the value of the property.
PurchasePrice/Value Stamp Duty (Transfer Duty) Rate
$0 – $430,000 No stamp duty payable
$430,001 – $530,000 $19.19 per $100 or part thereof above $430,000
> $530,000 The residential rate of duty generally applies

Family Home Guarantee

The Family Home Guarantee is another grant scheme that helps single parents to buy a family home. Since this grant is designed for single parents, they can be eligible even if it’s not their first home.



Under the FHG, a fraction of the eligible buyer’s loan from a Participating Lender is guaranteed by the NHFIC. First, this scheme eliminates the need for LMI and then allows selected applicants to buy a home with a 2% deposit.

Eligibility

  • You must have at least one dependent child.
  • Suited for first home buyers or previous owners.
  • For both new and existing properties
  • Owner-occupier
  • Annual income < $125,000/year
  • You need to have about 2% to 20% of the value of the property saved as deposit. Minimum deposit sits at 2%.

First Home Super Saver Scheme

With the First Home Super Saver Scheme (FHSS), people can save money for their first home inside their super fund. You can start saving in the FHSS by making a salary sacrifice arrangement with your employer to make voluntary contributions to the fund on your behalf.



The FHSS enables you to make voluntary contributions to your super fund of up to $50,000 in a year. At the right time, you can request your super savings and contribute it towards getting your first home.

Eligibility

  • You must be 18 years and older.
  • You must be a first home buyer
  • not previously made a FHSS release request under the FHSS scheme

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First Home Buyer FAQ Guide

  • Can You Utilise the FHOG WA on an Existing Property WA?

    It depends. Your FHOG Perth WA eligibility is hinged on whether or not the property you intend to buy is new or recently renovated. However, you must meet the eligibility and residency requirements, and property value thresholds to be selected. Reviewing the specific guidelines and consulting with professionals to determine your eligibility for the First Time Buyer Grant Perth, WA.

  • How Much Deposit Do You Need as a First Time Home Buyer in WA?

    When considering the First Home Buyers Grant Perth WA eligibility, the deposit required varies based on the purchase price of the property, lending policies, and individual circumstances.


    While the government sets no fixed minimum deposit amount, you should aim for a minimum deposit of 20% of the purchase price to avoid paying lenders' mortgage insurance (LMI).


    You can opt to pay between 5% – 10% of the value of a property,and potentially receive an exemption or concession on LMI. Speak with us to discuss your options for a deposit. 

  • How Much Does Stamp Duty Cost in WA?

    Stamp duty is calculated as a percentage of the purchase price or the value of the property, whichever is greater. To get an accurate estimate for your property, use the online calculators the Western Australian government provides or consult a qualified professional.

  • Is there a way to avoid paying stamp duty in WA?

    In some peculiar circumstances, you may be eligible for stamp duty exemptions or concessions. For example,  may be eligible for a Stamp Duty Exemption on their first home purchase if they meet specific criteria.


    Additionally, there may be other concessions available for certain property types or specific situations. It's essential to review the eligibility criteria and consult with our professionals to determine if you qualify for any stamp duty exemptions or concessions in WA.

  • Can the FHOG be used as a deposit?

    Sure. In some cases, as part of the deposit for your property purchase, you can use the first-time home buyers grant Perth. However, it's important to note that more than the FHOG alone may be required to cover the entire deposit amount required by lenders. You should discuss with your mortgage broker for first-home buyers or lender to discuss how the FHOG can be included in your overall deposit strategy.

  • Can we receive 2 FHOGs if my partner and I both are first homeowners?

    No. You and your partner can only receive one $10,000 grant even if you applied individually. Also, each eligible first home buyer can only receive the First Home Owners Grant (FHOG) once.

  • What are the limitations of the FHOG?

    The FHOG has some limitations, which include the following:


    • The FHOG is typically available only for purchasing or constructing a new home, not for existing properties.
    • Property value thresholds must be met to qualify for the grant.
    • Eligibility criteria must be satisfied, including residency requirements, age restrictions, and other factors.
    • The FHOG is a one-time payment and may not cover the entire deposit or other costs of buying a home.
    • The grant amount and specific details may vary, especially as time changes. So, we advise that you consult with professionals to understand the current limitations and guidelines of the FHOG.
  • Where can I find more info on the FHOG?

    You’re at the right place. We’re quite up-to-date with every information about the FHOG, eligibility requirements, first home buyer loan, Perth properties, and buyer assistance for you. Let Osinski Finance Perth first home buyers specialist guide you on this journey of buying your first home.

  • What Fees & Costs Should I Budget For?

    Stamp duty — This is the big one. All other costs are relatively small by comparison. Stamp duty rates vary between state and territory governments and also depend on the value of the property you buy. You may also have to pay stamp duty on the mortgage itself. To estimate your possible stamp duty charge, visit our Stamp Duty Calculator.


    Legal/conveyancing fees — Generally around $1,000 – $1500, these fees cover all the legal requirements around your property purchase, including title searches.


    Building inspection — This should be carried out by a qualified expert, such as a structural engineer, before you purchase the property. Your Contract of Sale should be subject to the building inspection, so if there are any structural problems you have the option to withdraw from the purchase without any significant financial penalties. A building inspection and report can cost up to $1,000, depending on the size of the property. Your conveyancer will usually arrange this inspection, and you will usually pay for it as part of their total invoice at settlement (in addition to the conveyancing fees).


    Pest inspection — Also to be carried out before purchase to ensure the property is free of problems, such as white ants. Your Contract of Sale should be subject to the pest inspection, so if any unwanted crawlies are found you may have the option to withdraw from the purchase without any significant financial penalties. Allow up to $500 depending on the size of the property. Your real estate agent or conveyancer may arrange this inspection, and you will usually pay for it as part of their total invoice at settlement (in addition to the conveyancing fees).


    Lender costs — Most lenders charge establishment fees to help cover the costs of their own valuation as well as administration fees. We will let you know what your lender charges but allow about $600 to $800.


    Moving costs — Don’t forget to factor in the cost of a removalist if you plan on using one.


    Mortgage Insurance costs — If you borrow more than 80% of the purchase price of the property, you’ll also need to pay Lender Mortgage Insurance. You may also consider whether to take out Mortgage Protection Insurance. If you buy a strata title, regular strata fees are payable. This process is crucial, that's why you need an expert first time home buyer mortgage broker to avoid mistakes.


    Ongoing costs — You will need to include council and water rates along with regular loan repayments. It is important to also consider building insurance and contents insurance. Your lender will probably require a minimum sum insured for the building to cover the loan.