When
it comes to having a home built, it’s not just the property you’ll
have to pay for. There are other different fees and charges that you
need to be aware of, and knowing what these are can help you be
better prepared as you travel the road of home ownership. Here are
some of the most notable ones:
Stamp
duty
Stamp
duty is a one-off cost levied on the purchase value of the property.
It’s one of the biggest costs you’ll have to pay when buying a
home or investment property, so you should know about it and be ready
for it.
Mortgage
registration fee
If
you’re a first home buyer, you’ll need to pay an administrative
charge for entering your lender’s mortgage onto the title record
for the property.
Legal
fees
Your
solicitor or conveyancer will handle the legalities of transferring
the property from your home builder to you, and you’ll have to pay
for their services. Ask your solicitor or conveyancer for an estimate
of fees including searches, disbursements, and settlements.
Forgotten
fees
There
are other less notorious fees that you must really be aware of
including moving costs, home and contents insurance, furnishing,
council rates, and strata fees. Be sure to put some money aside for
these as well.
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