First home
buyers in particular are often unaware of just how much the true cost of home ownership
is.
They think
all you need is a deposit to get you over the line, but there are many
extra costs associated with a property, including legal fees, stamp duty,
lender's mortgage insurance (if required), and of course paying the removalists.
These
extras can end up being the equivalent of 5 to 7 percent of the actual
purchase price.
Get it right
The best
way to avoid coming up short when you buy a property is to do the sums and make sure you account for every out-of-pocket expense you incur.
Often
lenders have online calculators that will not only tell you what your
repayments will be each month but also estimate your buying costs.
This is an excellent place to start and will give you an idea of how much you'll truly need
upfront.
RealRenta has all the tools that a property manager has but for
less than ¼ the cost of a property manager.
Join now and the cost is less than a cup of coffee a week to manage your
rental property
RealRenta also has a free vision, so why not check it out
Jason Gwerder
Thursday, 18 August 2022
