For aspiring home owners in Perth, purchasing their first house can be a very gruelling experience. This is why the government of Western Australia has instituted the First Home Owners Grant (FHOG) Scheme to lighten the burden. The Scheme can award new home buyers with a $10,000 grant for a brand-new house.
Of course, this assumes that the applicants meet certain requirements. For instance, they have to prove that they’re Australian citizens who have not owned a previous house nor have benefited from the FHOG Scheme in any other state or territory. Applicants should also live in the property for at least six years and within twelve months after they’ve successfully made an FHOG transaction before they can take advantage of the grant. These conditions also apply to the applicants’ spouse.
Special conditions apply to FHOG transactions made in Perth on or after January 1, 2010. For instance, properties located south of the 26th parallel of South Latitude shouldn’t exceed $750,000 to become eligible for the grant.
These are just minor hurdles when compared to the benefits given by the FHOG Scheme, though. In addition to the financial assistance it provides, the FHOG Scheme also allows home buyers to not pay stamp duty if they bought a vacant plot of land!