New HomesTips and Advice

One of the biggest hurdles first home buyers, or people getting back into the property market face, is saving up for a deposit.

However thanks to the government, building a home you can call your own is a lot easier. There are a number of grants, schemes, and initiatives that are offered by the State and Federal Government that you can take advantage of.

First Home Owner Grant

The $10,0000 FHOG is a one-off payment to encourage and assist first home buyers to buy or build their first home.

The once-off grant is payable per eligible transaction, so two people purchasing a house together may only receive one grant.

To be eligible for the FHOG, home buyers must be:

  • an Australian Citizen
  • 18 years or over
  • have not received a FHOG from another state or territory in Australia
  • have never owned another residential property in Australia
  • you occupy the home as your principal place of residence for a continuous period of at least six months, within 12 months of receiving the FHOG

First Home Guarantee

This Australian Government initiative is to support first home buyers purchase their first home sooner.

Usually, first home buyers with less than a 20% deposit need to pay Lenders Mortgage Insurance. Under the Scheme, eligible first home buyers can purchase or build a home with a deposit of as little as 5% (lenders criteria also apply).

The government guarantees 15% of the home so eligible buyers do not need to pay the traditional Lenders Mortgage Insurance (LMI). This means you could get into your own home with less savings and it could save you thousands on LMI costs.

To be eligible for the FHBG, home buyers must be:  

  • applying as an individual or couple (married / de facto)  
  • an Australian citizen(s) at the time they enter the loan
  • at least 18 years of age
  • earning up to $125,000 for individuals or $200,000 for couples, as shown on the Notice of Assessment (issued by the Australian Taxation Office) 
  • intending to be owner-occupiers of the purchased property  
  • first home buyers who have not previously owned, or had an interest in, a property in Australia.

Family Home Guarantee

This new initiative is designed to help single parents get into (or back into) the property market and get out of the rent trap.

Single parents with at least one dependent will be able to buy a home with a deposit of just 2%! The Government will then guarantee the remaining 18%.

This means no Lenders Mortgage Insurance, which we know can be a barrier for people building their own home.

To apply for the FHG, home buyers must be:  

  • applying as an individual  
  • a single parent with at least one dependent child (see Single Parent note below) 
  • an Australian citizen at the time they enter the loan  
  • at least 18 years of age  
  • be earning no more than $125,000 per year  
  • intending to be owner-occupier of the purchased property  
  • NOT currently own property (see Previous Home Ownership note below). 


To apply for the FHG, home buyers must:  

  • be single. A person is considered single if they don’t have a spouse and/or a de facto partner. Note: a person who is separated but not divorced is not considered single 
  • have at least one dependent child. To have a dependent child, you must be the natural or adoptive parent of the child and the child must either be 
  • at least 16 but under 22 years of age, receive a disability support pension within the meaning of the Social Security Act 1991 and live with you.  

For the purposes of the Social Security Act 1991, you must show that you are legally responsible (whether alone or jointly with another person) for the day-to-day care, welfare and development of the dependent child and the dependent child is in your care. 


FHG applicants can be either first home buyers or previous owners who do not currently own a home. To be eligible, you must not currently have:  

  • a freehold interest in real property in Australia  
  • a lease of land in Australia  
  • a company title interest in land in Australia. 


To see what government grants you’re entitled to, you can answer a short questionnaire here. 

At Summit Homes, our staff are passionate about continuing to help WA families transform their homes into stunning abodes for the next 40 years and more.

Speak to someone today who can help you with your home building journey because at Summit, we’re here to stay, here to grow.