Home Buyers Assistance Account for WA First Home Buyers

Buying your first home is exciting, but it can also feel overwhelming when you factor in all the additional costs like settlement fees, inspections, and mortgage charges. Thankfully, in Western Australia, there’s a unique scheme designed to ease the financial pressure on first home buyers: the Home Buyers Assistance Account (HBAA).

What Is the Home Buyers Assistance Account?

The HBAA is a State Government initiative that provides eligible first home buyers with a grant of up to $2,000 to help cover some of the incidental costs of buying a home.

These funds can be used for expenses such as:

• Mortgage registration fees

• Property inspection costs

• Settlement agent or conveyancer fees

• Mortgage insurance premiums

It’s designed to make the process of buying your first property more affordable and less stressful.

Who Is Eligible?

To qualify for the HBAA, applicants must meet several conditions, including:

• Being a first home buyer in WA

• Purchasing an established or partially built home through a licensed real estate agent

• Buying a property priced at $400,000 or less

• Intending to live in the property as their principal place of residence for at least the first 12 months

• Applying through their lending institution at the same time as arranging finance

It’s important to note that the grant does not apply to private sales, vacant land purchases, or new builds.

How to Apply

Applications for the HBAA are lodged on your behalf by your lender when you’re arranging your home loan. The grant is then paid directly into your nominated bank account once your settlement has been finalised. This streamlined process means you don’t need to complete a separate application form or deal directly with the government agency.

Why It Matters for First Home Buyers

Every dollar counts when you’re buying your first home, and the HBAA can take the edge off upfront costs that often catch buyers by surprise. Whether it’s covering your settlement fees or inspection reports, the grant helps smooth the path to homeownership and makes the process more accessible for first-time buyers.

Adaptive Settlements Can Help

At Adaptive Settlements, we specialise in helping first home buyers navigate the property process with confidence. From guiding you through government initiatives like the HBAA to ensuring your settlement is stress-free, we’re here to make your first property purchase as smooth as possible.

Contact us today to learn more about how the Home Buyers Assistance Account could benefit you and how we can support you through every step of your property journey.

More information available on Home Buyers Assistance Account.