As you would have already guessed, transacting in property isn’t cheap.
On top of the purchase price, below is a list of fees that are usually associated with purchasing a property.
Transfer Duty (Stamp duty)
Dependant on the purchase price. For a more accurate indication of duty payable, visit the NSW government revenue website to access the transfer duty calculator.
Tip – The Australian Government has incentives available to help first home buyers get into the property market. Again, information can be found online. Check out firsthome.gov.au for more information.
Loan application, establishment, valuation and administration fees
Fees vary from lender to lender.
Transactional, reporting and moving fees and charges
These include things like;
Conveyancing / legal fees
Building, pest and strata reports
Removalists and cleaning
Pop up fees
Allow yourself a buffer for unforeseen things that can just come up before, during and shortly after you own the home.
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This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
