The $10,000 First Home Buyers Grant is a boon to citizens of Western Australia looking to build or purchase new homes. Provided that you meet the eligibility requirements, you can benefit from this program. For those looking to build a new home, a $10,000 grant is available.
Anybody who would be eligible to receive the grant should take advantage of it, especially since assets and income will not be evaluated to qualify. However, there is a grant cap that you need to learn about as a home buyer. The home value of your property must not exceed $750,000 south of the 26th parallel and any home north of that property must not be worth more than $1,000,000.
The good news is that home buyers in Western Australia are exempted from stamp duty for a home purchase under $500,000. The same goes for a land purchase under $300,000. However, assistance from the government does not end there. Home buyers can also apply for The Home Buyers Assistance Account which can also cover up to $2,000 in expenses. To be eligible for this grant, a home buyer should purchase an already established home or a partially built one valued up to $400,000 through a licensed real estate agent.