Do your homework to avoid any 'hidden' costs. Investigate how much Stamp Duty you will be required to pay on the purchase price of your property as it varies from state to state. Also consider what costs you might incur from professional services.
You will often hear people complaining of the “hidden costs” associated with buying property. This can be avoided simply by doing your homework.
Investigate how much Stamp Duty you will be required to pay on the purchase price of your property. This varies according to state.
Other costs you might incur includes a professional onsite valuation, legal or conveyancing costs, bank mortgage fees, home and contents insurance, moving and utility connection fees, body corporate fees (if any), council rates and any ongoing maintenance.
Consult your financial advisor about potential extra costs you may incur when purchasing your property.
