The First Home Owner Grant has changed and evolved since it was introduced 16 years ago. The national scheme, funded by the states and territories and administered under their own legislation, makes funds available to first home buyers. It is often coupled with savings on stamp duty for first-timers, too. The FHOG was established to offset the impact of the then-new GST, but it has become an important economic stimulus tool. Successive state and territory governments have tweaked the amounts available, as well as eligibility criteria. It is now aimed squarely at newly-built houses.

Western Australia

How Much? $10,000

What For? New builds or “substantially renovated” homes, valued between $750,000 and $1 million, depending on location.

Western Australia also offers stamp duty concessions for first-time buyers on all properties; full exemption up to $430,000 and a sliding scale from between $431,000 and $530,000.

For More information of the First Home Owner’s Grant see  the Department Of Finance website.

Source: http://www.realestate.com.au/advice/state-by-state-guide-to-first-home-buyers-grants/

Realestate.com

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