Most first home buyers in Perth we talk to aren’t sure what grants and schemes they’re actually entitled to. That’s where a lot of people get stuck, not the saving part, but just not knowing what benefits are available to them.
Let’s go through what’s actually on offer and who qualifies.
The First Homeowner Grant (FHOG) Perth: Your Starting Point
The first home owner grant Perth buyers can access is $10,000 and it’s one of the most straightforward benefits available. Funded by the WA State Government, the FHOG Perth provides a one-off cash payment to eligible first home buyers who are building or purchasing a newly built home.
The main eligibility criteria are:
- Need to be an Australian citizen or permanent resident
- At least one applicant must be 18 years or older
- You (and any co-applicants) must not have previously owned residential property in Australia
- The property must be your principal place of residence for a continuous period of at least six months
The two that tend to catch people off guard are the age requirement and the six month rule. A lot of buyers don’t realise that at least one person on the application needs to be 18 or older, so if you’re buying with a partner, it’s worth double checking. They also need to commit to living at the property for a continuous period of at least six months.
What qualifies for the grant?
This is probably the most common mix-up we see — a lot of buyers assume the $10,000 grant applies to any home they purchase. It doesn’t. It only applies to those who are building or purchasing a brand new home. The FHOG in WA applies to new builds and newly constructed homes, not established properties.
If you’re buying an existing home, you won’t qualify for the $10,000 grant, but you may still be eligible for stamp duty concessions (more on that below). The property value cap currently sits at $750,000 for the grant to apply. Given Perth’s property market, that still opens up a wide range of options across many suburbs.
Stamp Duty Concessions: Where the Real Savings Are
The stamp duty concession is actually where a lot of the savings add up for first home buyers in Western Australia. The first home buyer scheme WA includes stamp duty exemptions and concessions that can put tens of thousands of dollars back in your pocket.
For first home buyers purchasing in Perth and the Peel region:
- Homes valued up to $500,000: you pay zero stamp duty. That’s a full exemption, saving you up to approximately $17,765.
- Homes valued between $500,001 and $700,000: you receive a concessional rate, with the saving reducing progressively as the property value increases.
Unlike the FHOG, stamp duty concessions apply to both new and established homes, which opens the door for buyers who want to purchase in established suburbs closer to the city.
The 5% Deposit Scheme: A Faster Path to Your Front Door
Saving a 20% deposit in Perth is quite tight for most people. It really depends on your salary and your financial commitments. That’s exactly why the Australian Government’s 5% Deposit Scheme (formerly the First Home Guarantee) exists, letting eligible buyers get in with just 5%.
Under the scheme, eligible buyers can purchase with as little as a 5% deposit, and the government guarantees the remaining 15%, meaning you avoid paying Lenders Mortgage Insurance (LMI). LMI can typically cost $10,000 to $20,000 or more depending on your loan size, so this is a genuinely significant saving.
Key things to know:
- Places are now unlimited — there’s no longer a cap or waiting list
- There are no income caps for the 5% Deposit Scheme
- Property price caps apply (currently $850,000 for Perth)
- You still need to demonstrate genuine savings and serviceability
As Trent discussed with Shane Beaumont on the Perth Property Show, the expansion of this scheme has had a real impact on the Perth market, making homeownership accessible to a much broader range of buyers.
The scheme doesn’t reduce your loan — you’re still borrowing 95% — but it removes one of the biggest upfront barriers: the need to save a larger deposit while paying rent.
First Home Super Saver (FHSS): Making Your Super Work Harder
If you’ve been making voluntary contributions to your superannuation, the First Home Super Saver Scheme lets you withdraw those funds to use as a home deposit with significant tax advantages.
You can withdraw up to $50,000 in eligible contributions (across multiple years), and because contributions are taxed at just 15% inside super rather than your marginal tax rate, many buyers may save thousands in tax while building their deposit.
It does require some lead time, so if you’re still 12 to 24 months away from purchasing, this is worth looking into sooner rather than later. A mortgage broker can run the numbers with you and tell you pretty quickly whether it makes sense for where you’re at.
Keystart: WA’s Own Low-Deposit Home Loan
Not enough Perth buyers know about Keystart, and that’s a shame because it could be the most relevant option for a lot of them. Keystart is a WA Government-backed lender specifically designed to help people who might not meet the lending criteria of the major banks.
Keystart offers home loans with deposits as low as 2% for eligible borrowers, with no LMI payable. It’s designed for lower-to-moderate income earners who are ready to own a home but haven’t yet built a large deposit.
Eligibility for Keystart includes income limits:
- Single applicants: up to $148,000
- Couples and families: up to $218,000
If your income falls within these brackets, it’s worth checking your eligibility before ruling it out.
The idea is that once you’ve built up enough equity, you refinance across to a standard lender. It’s not meant to be forever, just a practical way to get you through the front door.
Stacking the Schemes: What You Can Combine
The good thing about these schemes is that many of them can be combined, and knowing which ones work together can make a big difference to what you walk away with.
You CAN generally combine:
- FHOG + Stamp Duty Concession (if buying a new build under the threshold)
- 5% Deposit Scheme + FHOG
- FHSS withdrawal as your deposit + 5% Deposit Scheme
- Keystart + FHOG (subject to eligibility)
The combination that works best for you really comes down to whether you’re buying new or established, and what your deposit situation looks like.
What to watch:
- Keystart and the 5% Deposit Scheme are separate schemes — you typically use one or the other, not both
- The FHOG only applies to new builds, so if you’re buying established, your key benefit is the stamp duty concession
If you’re unsure which path applies to you, that’s exactly the kind of thing worth clarifying early. Getting it wrong can mean missing out on thousands of dollars in benefits.
The right combination depends entirely on your income, savings, property type, and timeline. There’s no single right answer here — it really depends on your own situation.
You Might Be Closer to Owning Than You Think
The most common thing first home buyers say after speaking with a mortgage broker is: “I didn’t realise I had so many options.” Between the first home owner grant, stamp duty savings, low-deposit schemes, and Keystart, there are buyers getting into Perth homes with relatively modest savings — and doing it sooner than they ever expected.
The landscape of government grants for first home buyers in Western Australia is genuinely strong right now. As Brendon discussed on a recent episode of the Perth Property Show, these schemes are driving real valuation activity across Perth’s suburbs. But the schemes come with conditions, caps, and application processes that need to be navigated carefully.
The smartest next step? Find out exactly what you’re entitled to.
Our team specialises in helping Perth first home buyers understand every grant and scheme available to them and structuring finance to make the most of all of it. We’ll do the numbers, check your eligibility, and map out the fastest, most cost-effective path to your first home.
Book a free consultation today with our brokers and let’s calculate your benefits together. You might be a lot closer to your front door than you think.
Disclaimer: The information provided in this article is general in nature and does not constitute financial, tax, or legal advice. Individual circumstances vary. We recommend consulting with qualified professionals before making financial decisions.
