up

The hidden costs of buying property

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


Join our mailing list Receive Free Property Tips and news


Now Partnered With

logo


Contact Us

1300 11 RENT (7368)
info@realrenta.com