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double the grant

Gettin’ Good With The Grants!

There are currently more home owner’s government grants available In Western Australia than ever before. And while this in an undeniably good thing – a great thing – like many, you might be struggling to understand the options.

The best news is that eligible first homebuyers will be able to access both State and Australian Government grants, the existing $10,000 first home owner grant and the first home buyer transfer duty concession, meaning potentially up to $69,440 could be provided to WA first homebuyers.

And now…it gets even better, Nicheliving is doubling the West Australian Building Grant!

The majority of our home and land packages are eligible, which means that you’re guaranteed to start construction before the deadline. We have something for everyone, so you’ll easily find your perfect home in the ideal location with Nicheliving.

As Perth’s one-stop property shop, our finance team will be on hand to complete the grant application process for your and answer any of your questions.

So, let’s go back to basics:

 

First Home Owner Grant

For what: A one-off payment to assist first home buyers to buy or build a residential property for use as their principal place of residence.

For who: Australian citizens or permanent residents over the age of 18. Your income does not affect your eligibility for the grant.

For how much: $10,000

For how long: Grant is available indefinitely.

Terms:

  • You must occupy the home as your principal place of residence for a continuous period of at least six months commencing within 12 months of settlement if purchasing a home, or within 12 months from the date of completion if building a home.
  • You must hold a relevant interest (ownership) in the land on which the home is situated and must own the home in your own capacity. A relevant interest may include a right of occupancy.
  • You must apply for the grant within 12 months of the completion date.

Learn more here – First home owner grant (FHOG)

 

The Western Australian Building Bonus Grant

For what: Building a new home on vacant land or purchasing a new home being constructed under a single-tier development on a strata plan or other land survey type.

For who: Australian citizens or permanent residents over the age of 18. Your income does not affect your eligibility for the grant.

For how much: $20,000

For how long: The contract must be entered into between 4 June 2020 and 31 December 2020.

Terms:

  • Construction needs to commence within 12 months of entering into the contract.
  • You must be the registered owner of the vacant land on which the home will be built. However, it is important to note that if there is a house on the vacant land, you will receive the grant after the house has been demolished.

 

The HomeBuilder Grant

For what: HomeBuilder provides a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder is designed to boost the residential construction market by encouraging new home builds and renovations during COVID.

For who: Eligible owner-occupiers (including first home buyers) who are Australian citizens or permanent residents over the age of 18.

Your annual income needs to be less than $125,000 for individual applicants or less than $200,000 for a couple based on your 2018-2019 tax return and you are not able to access the scheme through a trust or grant.

For how much: $25,000

For how long: The contract must be entered into between 4 June 2020 and 31 December 2020.

Terms:

  • The Australian Government requires your application to be submitted by 31 December 2020. RevenueWA will accept applications from November 2020 without all the supporting documents in order to meet this deadline and you will be able to upload the supporting documentation when it is available.
  • If you receive the HomeBuilder grant, you may still be eligible to receive the Building Bonus grant. Use the same application formto apply for both grants.
  • You may also be eligible to receive the first home owner grant.

Learn more here – HomeBuilder and Economic Response to the Coronavirus

 

Two of these three grants available for West Aussies are only in play until the 31 December.

With this in mind, make sure that you prioritise weighing up the pros and cons of buying an established property or building new, to see which option is better for you and take advantage of the financial assistance!

On top of this, we’re doubling the WA building grant to help more home builders get into their own home. The majority of our home and land packages are eligible, which means that you’re guaranteed to get the grants. Plus, we are open 24/7 until the end of the year, providing flexibility to suit your needs.

Contact us to get started!

 



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