Has anyone here taken advantage of the shared equity scheme on offer by the WA government?

Question

How much deposit did you put down? Was there a limit to the deposit you could put down and still be eligible?

Answer 1

Under this shared-equity scheme, eligible first homebuyers may be able to purchase or construct a home up to $375,000 in conjunction with Keystart and the Department of Housing and Works.

Depending on your assessable income and household size, the Department of Housing and Works will co-own up to 40 percent (conditions apply) of a property with you. Later when you can afford to, you can purchase all or part of the Department's share.

Home purchases by First Start participants are also exempt from Stamp Duty duty saving families around $8,000 on the purchase of a $350,000 home.

Answer 2

I don't know about the WA scheme, but some people I used to work for crunched the numbers on one of these schemes.  To get a reasonable ROI we had to grab over 50% of the capital gain.  They sound great in theory, but there will be tears at the other end when you sell