Will You Be A First Home Buyer In Perth?
Sponsored by First Home Owners Centre
The Department Of Finance has released good news if you are considering becoming a first home buyer, in Perth or anywhere in Western Australia.
Changes in 2013-2014
The adjustment announced last year, in the projected State Budget for 2013-2014, included an increase in the First Home Owner Grant from the previous amount of $7,000 to $10,000. This increase is for any first home buyer in Perth, or elsewhere in Western Australia – constructing or buying a new home.
In addition, it will offer a $3,000 allowance for any first home buyer obtaining an Established Home Commence Operation from September 25, 2013. Essentially, this means that any first home buyer that signs an agreement to build or purchase a new house from that date, or has already begun laying the foundation for the building of a new house, is entitled to the enlarged $10,000 endowment.
If you are a first home buyer signing a new agreement to purchase a previously constructed home from September 25, 2013, you may be qualified for an award of $3,000 towards that purchase.
As a first home buyer qualified for the First Home Owner Grant, you need to be aware that a percentage rate of transfer duty will apply if the assessment of the property falls below a certain limit. When you apply, the details of this duty will be explained in the documentation.
As a potential first home buyer in Perth, you should look into what other resources might be available to you to assist with your home buying funding. In addition to the funding available from the Department of Finance, there is also grant funding available from the Department of Commerce. Founded under the Real Estate and Business Agents Act, The Home Buyers Assistance Account, offers a support grant of up to $2,000.
For more information on learning how you can become a first home buyer in Perth, visit FHOC.