The Western Australian Government announced that the First Home Owners Grant increased from $10,000 to $15,000 for 12 months, starting from 1st January 2017. The WA First Home Owner Grant (FHOG) is a one-off payment to assist first home buyers in building a new home for use as their primary residence. Eligibility criteria apply.
The news was released alongside the changes to the Keystart lending criteria.
New Keystart Metropolitan Income Limits:
Singles now $90,000 (was $70,000)
Couples now $115,000 (was $95,000)
Families now $135,000 (was $115,000)
This boost to the grant combined with the increased Keystart lending limits will further enable first homebuyers the opportunity to enter the Perth housing market. It will also create more jobs in the housing construction sector.
In conjunction with our Finance Partner, The Loan Company, Impressions the Home Builder can guide you through both the finance and building processes. Contact us today to find out more.
How much can I borrow