Home ownership options

If you're tired of renting, or struggling to save a deposit, the shared home ownership initiative is one way you may be able to afford to buy your own home. 

Shared home ownership allows you to share the purchase of a home with the Department of Communities through a Shared Home Ownership Loan with Keystart, the State Government's home loan lender.

Properties being offered for sale under the shared home ownership initiative can be viewed on the Opening Doors website.

Keystart helps eligible people buy their own homes by offering an affordable pathway. Keystart's home loans have a lower deposit requirement and no lender's mortgage insurance.

Keystart provides full ownership and shared ownership home loans. Specific home loan assistance is also available for sole parents trying to retain the family home, people living with a disability that affects housing needs, and Aboriginal applicants.

For more information on Keystart's loan products and eligibility requirements, contact Keystart on 1300 578 278 or visit the Keystart website.

Benefits offered to purchasers

Purchasers will receive a grant of up to $3,000 for stamp duty and settlement fees. Should these costs be less than $3,000, they will be fully paid for by Communities and if they are more, the purchaser will only pay the amount over $3,000.

Purchasers will receive a discount for certain approved capital improvements they have made to the property. Family members can assist with the purchase regardless of whether they own their property or not.

Eligibility

To be eligible for the scheme you must have:

• A minimum period of three years continuous tenancy with Communities.
• No interest in any lot of residential land (improved or unimproved).
• No current arrears or other debts to Communities (including water consumption debts) at the time of application and settlement.

Available properties

Communities will consider the sale of a property to eligible tenants within the context of its current priorities and planning. 

Transfer to purchase option – If the current property is unavailable to buy, you may be offered another property providing one is available and you have chosen the ‘transfer to purchase’ option in your application.

A property will only be sold if it has its own title at the time of application, or a subdivision is possible and funding is available to subdivide parent titles.  

How to purchase a property

If you are interested in purchasing your rental property, you will first need to obtain finance pre-approval through a bank, building society, credit union or Keystart.

Once you’ve obtained finance pre-approval you can then complete the application form and send it along with your deposit of $150 (via a cheque or money order made payable to Department of Communities - Housing) to:

Rental Sales Scheme
Locked Bag 5000 
Fremantle WA 6959

Once your application is received, Communities will decide whether the property is available for sale.

If the property is unavailable for sale and you have not chosen the transfer to purchase option, your application will be withdrawn, and your deposit will be returned to you. Please note that Communities’ decision in this matter is final and there is no appeal process.

If you have chosen the transfer to purchase option, Communities will endeavour to find another property for you in your price range. This process may take up to three months. If another property is available, you will be advised accordingly. If no other property is available within three months, your application will be withdrawn and your deposit will be returned to you.

When a property is available for sale, its market value will be determined. Any capital improvements you have made that have increased the market value, such as a kitchen renovation, the addition of a patio or carport, or other items from the approved list will be counted. Landscaping, painting and other maintenance items are not included. The purchase price will be the market value less the amount allowed for improvements.

Communities will then make you a written offer and you will be given 30 days to accept the offer and provide proof of identity. A contract will then be written up so you can arrange the finance approval for your loan.

Upon receipt of your finance approval, settlement of the sale will follow within 30 days.

Please note that should you not accept Communities’ offer and wish to withdraw your application, your deposit of $150 is non-refundable and will be retained by Communities. The reason for this is to assist in recovering the costs incurred by Communities for the valuation fees.

The program provides eligible people an affordable rental property, along with access to a range of services that focus on employment, education, financial independence, household management and wellbeing.

Purchasing a property through Communities is available to eligible participants in programs supported by the Fund. For more information, visit the North-West Aboriginal Housing Fund webpage.

Available residential land listings can be viewed on the Development WA website.

The maximum purchase price criteria for the home buyers assistance account is $400,000.
More information is available on the Department of Commerce website.

All brand-new properties priced below $750,000 are eligible for the $10,000 grant.
For more information, visit the Department of Finance website.

For more information on stamp duty concession, visit the Department of Finance website.