After years of hard work, you and your spouse have sorted out your finances and are now ready to buy your first home. You are ready to say goodbye to renting for good. In Perth, you have a choice between a newly built home for your first home, and an existing one. Each offers its own set of advantages.
If you opt to build your first home or buy a newly built home, you can apply for First Home Owner Grant (FHOG). The Western Australia Government funds the FHOG to offset higher housing costs due to Goods and Services Tax. The FHOG scheme is implemented by the Office of State Revenue. If you are approved for FHOG, it will be much easier for you and your partner to cover the costs of your own home.
To be eligible for FHOG, however, it’s pertinent that neither you nor your partner has ever received a grant before. To be eligible for this grant, you or your spouse must be an Australian citizen, or at least, a permanent resident of Australia. The best thing about FHOG is that there is no income bracket to qualify, so that should ease the financial pressure on you and your partner where you believe the grant would benefit you and your partner in a big way.
FHOG applications can be made directly through the Government of Western Australia’s Department of Finance. Still, if you are not used to dealing with a lot of paperwork, it may be best to course the application through a broker or an agent with experience in handling applications for FHOG.