So what are the costs of purchasing a property?

Jane Slack-Smith

We often concentrate on just saving a deposit. Often at settlement buyers are surprised at the cost of all the other things - even worth they could hold up settlement whilst they get the extra funds.

These are the things I believe are the big ticket items you should consider:

1. Deposit obvioulsy - this ranges usually from a 20% deposit through to a 5% deposit (requiring mortgage insurance)

2. Stampduty

3. Lenders Fee including an Applicaton fee

4. Pest and Building Inspection

5. Strata/body corporate report

6. Pre-purchase renovation feasibility report

7. Government transfer and registration fees

8. Legal fees

Here is a kick 6 min video where I go into a bit more detail plus share how a $500 strata report saved me from buying a property that required a special levy per apartment of $100,000 within the next 6 months!


For home owners there are a few extras that cost time and money or both:

- moving costs

- cleaning of old and new property

- disconnection and connection of services

- redirecting mail

- changing insurance with possibly different coverage costs

- changing licence

- finding a new pizza shop, this could take weeks alone!

Hope this serves you

Jane Slack-Smith