Buying a property is more than what is on the price tag.
Here are the hidden costs all investors should be aware of:
Let’s just say you are buying a property worth $500 000.
Here is what you can expect to additionally pay:
• Property value: $500,000
• Conveyancing and legal fees: $1800
• Stamp duty:, $8750
• Building and pest inspection (combined): $600
• Mortgage registration fee: $187
• Transfer fee ($35 for every $10,000 over $180,000): $1120
• Loan application fee: $500 – $600
• Mortgage insurance: $8000
• Council and utility rates: roughly $500 (per quarter)
• Total costs = $512,707 – $521,557
Need a property loan?
Contact us @ propertyloans@realrenta.com and we will arrange for our
trusted finance partner to contact you shortly.
Marlene Liontis
Saturday, 14 December 2019