The first house owners grant is an incredible benefit for the people of Western Australia, but before you can take advantage of it, you need to make sure that you qualify!
While you should talk to a mortgage professional with questions about your individual situation, there are a few pieces of basic criteria that must be met, including:
You Must Be An Australian Citizen Or Permanent Resident To Qualify For The First House Owners Grant
The money for the first house owners grant comes from the Australian government, so it's natural that applicants need to be Australian citizens to qualify. Additionally, permanent residents also qualify. Permanent residents are people who have lived and worked in the same geographical area of Australia for more than two years, and have the documentation to show they're permanent residents.
To Qualify For The First House Owners Grant, You Must Not Have Owned Property Previously
Since the grant is designed for first house owners, it makes sense that you could not have owned property previously. However, if you did own property before the grant began (before 1 July 2000), you may be eligible. If you have questions about meeting these criteria, the best thing to do is to talk to a qualified mortgage professional.
If Married, The Spouse Must Also Qualify For The First House Owners Grant
If you're married, both spouses must qualify for the first house owners grant. This means if one partner has previously owned property, the couple is disqualified.
The Home Must Be The Primary Place Of Residence
Lastly, if you're planning on using the first house owners grant to purchase a home, you must intend to live there! You'll be ineligible for the grant if you're planning on using the property as an investment piece or as a rental property. The house needs to be your primary place of residence.
If you have questions regarding the first house owners grant, or if you want to see homes from Easystart Homes that are ideal for first house buyers, please click here or call 08 6555 7549 to contact a new home consultant.