[WA] Up to $2,000 Assistance to Eligible First Home Buyers @ Home Buyers Assistance Account, WA Government

Hi OZB community, I hope this post benefits WA-based first home buyers in case some of you are unaware of this valuable information like I was.

I recently bought my first home in Perth, WA, and learned about this WA government grant which reimburses some of the incidental expenses incurred when purchasing a first home in Western Australia, thanks to my settlement agent. As a result, I got $2000 back about 2 months after submission.

Tip: Best to get help from your settlement agent. I found the application requirements somewhat confusing.

Brief

A grant from the Home Buyers Assistance Account reimburses some of the incidental expenses incurred when purchasing a first home in Western Australia, provided the applicants meet all criteria. Eligible applicants receive a grant of up to $2,000.

The price of the dwelling must be within the maximum price limit for dwellings purchased in Western Australia. The price limit relates to the total price of the dwelling and not the percentage of the applicant’s purchase. The current prescribed limit is $400,000.

Incidental expenses can include mortgage registration fees, solicitor and/or conveyancing fees, valuation fees, inspection fees, establishment fees, mortgage insurance premiums and lending institution fees associated with the purchase of your first home.

The scheme is funded from interest paid on real estate agents' trust accounts.

A fact sheet to help you apply for the $2000 home buyers assistance account.
[A guide for first home buyers]
(https://www.commerce.wa.gov.au/publications/home-buyers-assi…)

Eligibility criteria

The price of the dwelling must be within the maximum price limit for dwellings purchased in Western Australia. The price limit relates to the total price of the dwelling and not the percentage of the applicant’s purchase. The current prescribed limit is $400,000.
The applicant(s) must not own or have previously owned a dwelling in Western Australia. If one of the applicants owns or has owned a dwelling in Western Australia, then a partial grant may be made to the first home buyer applicant(s) equal to the percentage of their interest in the dwelling (provided all other criteria are satisfied).
The dwelling must have been purchased through a licensed real estate agency carrying on business in Western Australia.
The dwelling purchased must be financed by a lending institution which is also required to lodge the application on behalf of the applicant.
The dwelling must be established or partially built at the time of acceptance of the contract to purchase, not a plan to build a dwelling.
The dwelling purchased must be the applicant(s) principal place of residence.
The applicant(s) intends to live in the home for at least the first 12 months (the home cannot be rented out during this time). If there is an existing fixed term tenancy agreement in place at the time of purchasing the dwelling, the tenancy agreement must finish within six months from the settlement date and the applicant(s) have to intend to live in the premises for at least 12 months after the expiry of the tenancy agreement. The existing tenancy agreement cannot be extended or a new lease agreement put in place. In the case of an existing periodic tenancy agreement, required written notice has to be given by the lessor. Please refer to our page Lessor ending a tenancy.
The application should be lodged no more than 90 days after the date of settlement of the contract to purchase. In exceptional circumstances a late lodgement may be allowed if reasonable grounds exist to justify it.

How to apply

You must complete the application form and follow the instructions on the application form. If you have any further queries, call (08) 6552 9484.

The State Government's First Home Owner Grant and First Home Owner Rate of Duty
In addition to the Home Buyers Assistance Account, first home owners may also be eligible for the State Government's First Home Owner Grant and/or concessional First Home Owner Rate of Duty. The grant and concessional rate of duty are administered by RevenueWA. For further information, contact the Department of Finance on (08) 9262 1299 or 1300 368 364 (WA country callers only).