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.

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. 

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.

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.

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.

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.

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.

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.

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.