Purchasing a Property
Purchasing a property:
Buying a property, especially your 1st property, is generally the biggest purchasing decision you will make. It is an exciting time but can become stressful if you are unaware of the associated costs.
Mortgage Loan costs
application fees
settlement fees
valuation fees
ongoing fees
exit fees.
These will vary depending upon the lender.
Stamp Duty is payable on the transfer of the property
First home buyers can have the stamp duty waived. It will depend on the purchase price and the State or Territory where the property is purchased.
The stamp duty is not financed. It is an additional cost when purchasing a property.
Mortgage Registration fees and Stamp Duty are state government based fees and are applied according to the law of the state where the property is located.
Other costs
-
Legal/conveyancing fees
-
Pest and building inspections on the property
Relocation costs
Council rates, body corporate fees, etc