The 1st house buyers grant in Perth is an incredible benefit for first home buyers, but there are a few limitations. Before you start your home search, make sure that you truly qualify for the 1st house buyers grant in Perth. Being armed with this knowledge can help ensure that you're looking for the right house for your family.
About The 1st House Buyers Grant In Perth
The 1st house buyers grant in Perth is a government program that helps first time property owners with the purchase of their home. Currently first buyers can receive $3000 in grant money towards the purchase of an already built home, and $10,000 towards the purchase of a newly built home. Buyers will need to fill out some paperwork to ensure that they qualify.
What Happens If Only One Partner Is a 1st House Buyer?
Partners can use the grant to buy a home, but they will only qualify for the 1st house buyers grant in Perth if they are both 1st house buyers. This means that if one person has previously owned a home, they will not qualify. Buyers can choose to put the home in just one partner's name if they want to still qualify for the 1st house buyers grant in Perth. However, it's important to talk to a qualified mortgage officer to ensure that buyers will still qualify for the loan.
Dollar Limits On The 1st House Buyers Grant In Perth
The grant is designed to make home ownership more affordable, which means there is a property price cap. This threshold is $750,000 and includes both the land and the home price. If you're a first home buyer who's looking at house and land packages over $750,000, you will not qualify for the 1st house buyers grant in Perth. However, if the home is located north of the 26th parallel, the cap is currently $1,000,000.
If you have questions regarding the 1st house buyers grant in Perth, Easystart Homes' professional loan experts can help ensure that you meet the requirements, before you apply. If you have questions, please call 08 6555 7549 or click here to contact us today.