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