Stamp Duty

This is a government cost that is usually the biggest expense outside the purchase price of the property. Stamp duty varies between the states and territories. For guidance on the approximate stamp duty cost in your relevant state, go to www.stampdutycalculator.com.au

Loan Setup Costs

This includes establishment fees and will vary pending on the lender and the loan product chosen. It is important to note that you may also require Lenders Mortgage Insurance (LMI) depending on your deposit size.

Conveyancing Costs

Conveyancing is the process of which a property’s ownership is transferred from the current owner (the vendor) by the buyer. Either a conveyancer or solicitor will review your Contract of Sale and ensure appropriate checks are conducted on the property with local government agencies.

Inspection Costs

It is always recommended that prior to purchasing a property, you hire professionals to inspect the property for structural defects and building major defects (Building Inspection) and for pest infestations (Pest Inspection) for pests that have caused damage to property.