A Rundown on First Home Owners Grant

The Government of Western Australia started offering the First Home Owner Grant (FHOG) back in 2000 to help eligible first home buyers make their dreams of owning a piece of real estate a reality. Designed to compensate for the impact of fluctuating house prices, first-time home buyers can qualify for a $10,000 payment which they can then use to pay for or build a new home. Moreover, the grant will not affect homebuyers’ eligibility for other forms of government assistance.

To qualify, applicants must be natural persons, at least 18 years old when they’ve contracted to purchase or build a new home, and are Australian citizens or have gained Permanent Resident status. The scheme also requires that homebuyers must not have previously received FHOG from other jurisdictions in Australia and that their spouse (if any) cannot have owned a home in the country. In addition, the grant requires that applicants commit to occupy their new homes as their principal places of residence for an uninterrupted period of six months within 12 months after construction is finished.

The Government of Western Australia’s Office of State Revenue says that it will take at least seven working days to process and complete grant applications. Once approved, payment of the grant will normally be ready if applicants are prepared to settle transactions with their builders or realtors. Homeowners also have the discretion to use FHOG funds in any way they wish once these are received.

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