You know the drill Perth home buyer. You’ve been through the process before, whether it was building or buying established. However, with many grants and schemes in place it can be hard to distinguish what’s available to you now that you’re not a first home buyer.
So here’s a quick recap if you’re building a new home in Perth!
Firstly, because you have bought before you are not eligible for the First Home Owners Grant (FHOG) or the First Home Loan Deposit Scheme (FHLDS).
And now, both the Federal Government’s HomeBuilder and WA Building Bonus Grants have ended so they’re off the table.
But, the Family Home Guarantee was announced in May 2021 for single parents, and previous home buyers are eligible!
Family Home Guarantee
This initiative was announced by the Federal Government in May 2021 and officially launched on 1 July 2021.
It is for single parents who only need a 2% deposit as the Government guarantees the remaining 18%. This is only available for new homes, so it’s not applicable for established homes. And yes, if you have previously owned a home you are eligible!
But here’s the catch- there are only 10,000 places (or guarantees) available over 4 years. So we recommend reaching out to us so we can help you secure your place.
HomeBuilder Scheme
This initiative was announced by the government back in June 2020 when the offer was for $25,000 (it dropped down to $15,000 for contracts signed in 2021). This scheme was available to first home buyers and previous home owners.
This scheme is from the Federal Government and was created to boost construction jobs around Australia. Unfortunately, this grant is no longer available as building contracts needed to be signed before 31 March 2021.
It was then followed by the WA State Building Bonus Package of $20,000 which ended on 31 December 2020.
Want to find out what benefits you could receive? If you are looking to build a new home in Perth (instead of buying established), one of our team members can chat to you about what you are eligible for.
