Are You Eligible for the First Home Owner’s Grant?

According to The Universal Declaration of Human Rights drafted by the United Nations, every person has the right to own property. The Western Australian government highly values this right, which is why they offer a substantial grant to all residents who are about to purchase their first home.

The WA government offers a grant of up to $10,000 to those who are having their new home built (a $3,000 grant is available to those purchasing an existing home). Furthermore, those who purchase vacant land along with the home may be eligible for an exemption from stamp duty.

Are you eligible for this grant? Find out by asking yourself these questions:

Am I an Australian citizen?

Long story short, this grant is only eligible for Australian citizens. Foreigners who have been granted permanent residence in Australia are also eligible for the grant.

Have I owned residential property before?

If you’ve purchased residential property anywhere else in Australia, you lose your eligibility for the grant. Renting property, on the other hand, keeps you eligible.

How much is the total value of my potential home?

Take the value of both your potential home and the land you’re buying. The total value shouldn’t exceed $750,000 if you want the full $10,000 grant. If you are purchasing property north of the 26th parallel (roughly 800km north of Perth), the total value shouldn’t exceed $1,000,000 in total.

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