Additional costs involved when purchasing a house

June 12, 2016

 

 

 

When buying a house there are some costs which buyers are aware of and some hidden costs that may come as a surprise.

The list below will help you prepare for your journey.

  • Stamp Duty on the purchase of the property which can vary from state to state.

  • Transfer fees and registration fees.

  • Pest and building inspection fees.

  • Conveyancing fees.

  • Lenders mortgage insurance when borrowing more than 80%, which can be capitalised in the loan amount.

  • Building insurance.

  • Contents insurance.

  • Mortgage protection insurance.

  • Bank fees related to your mortgage.

  • Other costs; such as moving costs, council rates, strata fees and any renovations and upgrades.

 

So when budgeting for a property always take these additional costs into account and make sure you have a buffer for them.

 

For any additional information call us on 0487 344 352 for a no obligation, free consultation.

 

 

 

 

 

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