Home Buyers Assistance Account

Information on government financial assistance for first home buyers

The Home Buyers Assistance Account is established under the Real Estate and Business Agents Act 1978 to provide first home buyers with financial support.

The scheme provides a grant of up to $2 000 for the incidental expenses of first home buyers when they purchase an established or partially built home through a licensed real estate agent.

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

The grant can be used for - registration fees, solicitor and/or conveyancing fees, valuation fees, inspection fees, establishment fees, mortgage insurance premiums and lending institution fees associated with lodging the application.

The current criteria for funding are:

applicants must be buying their first home, which is established or partially built (not vacant land, a plan or a 'house and land' package);
the applicant, spouse or partner of the applicant must not own or have owned any property in the State of Western Australia before;
the applicant must live in the home for at least the first 12 months;
the applicant must purchase the home through a licensed real estate agent;
the application must be lodged with the Registrar of REBA no more than 90 days after the date that the offer and acceptance contract to buy the home is accepted (in exceptional circumstances, a short extension of time for lodgement may be granted by the Registrar if reasonable grounds exist);
the home loan must be financed through an authorised lending institution (such as a bank, building society or credit union);
the purchase price must be within the limit for the home's location according to the following table:

Locations	Maximum purchase price
Metropolitan & country The region south of the 26th parallel and west of the boundary line between Meekatharra, Kalgoorlie-Boulder and Point Malcolm (including Kalgoorlie-Boulder and excluding Meekatharra and Point Malcolm)	$400 000
Remote areas The region south of the 26th parallel and east of the boundary line between Meekatharra, Kalgoorlie-Boulder and Point Malcolm (excluding Kalgoorlie-Boulder and including Meekatharra and Point Malcolm)	$400 000
North-West & Kimberley region Any area north of the 26th parallel.	$400 000

For copies of the application form, or if you have any further queries, call (08) 9282 0836.

The Federal Government's First Home Owners Grant

In addition to REBA's Home Buyers Assistance Account, first homebuyers may also be eligible to a financial rebate through the Federal Government's First Home Owners Grant. The grant is administered by the Office of State Revenue. For further information about the grant, contact the Department of Treasury and Finance on 1300 363 211.