First Home Owners Grant Wa
The First Home Owners Grant Wa is a one time payment of $10,000 given to assist first time home buyers so they can buy or build a new home in Western Australia. This grant is only available once per transaction so if you are purchasing a home with another person you can only receive on grant.
What Constitutes A New Home Under the First Home Owners Grant Wa
A new home is a home that is newly built, never been occupied or a home that is substantially renovated. An already established home or renovations for an existing home does not qualify as a new home under the First Home Owners Grant Wa. The homes South of the 26th parallel must be priced at $750,000 and those North of the 26th parallel must be priced at less than $1,000,000.
The First Home Owners Grant can be used for a property and home deal, but not for property alone.
Eligibility for the First Home Owners Grant
There are some basic requirements that you must fulfill in order to be eligible for the First Home Owners Grant Wa. These requirements include:
- You must be at least 18 years of age
- At least one applicant for the grant must be an Australian citizen
- The home must be your principal residence for at least 6 months
- You must move into a home with 12 months of the settlement or within 12 months of when the new home build is completed.
- You must own an interest in the land that the home is situated on
You are not eligible for the First Home Owners Grant under the following conditions.
- You have previously received a grant or First Home Owner rate of duty from a district in Australia.
- If you owned a residence in Australia before July 1, 2000
- If you owned a residential property and occupied that property on or after July 1, 2000
- Owned a Residence in Australia on or after July 1, 2000 and have lived on the property for at least 6 months beginning on or after July 1, 2004.
If you feel that you qualify for the First Home Owners Grant Wa you can find the application online here.
Along with your application you will have to provide several pieces of documentation relating to both your Australian citizenship and evidence of your home transaction. To get a list of the specific paperwork you will need contact a bank or pick up a guide to applying for the First Home Owners Grant.
When Does the First Home Owners Grant Get Paid Out?
If you are wondering when the First Home Owners Grant will paid out then it usually gets paid out once your purchase of the property has been completed. If you are building your own home then the grant is normally paid out once the construction has been started.