The purchase price is just the beginning. Many buyers are caught off guard by the additional costs that come with buying property in Australia. Being prepared for these expenses is essential for budgeting accurately.
Stamp duty is typically the largest additional cost, varying by state and property value. Then there are legal and conveyancing fees, building and pest inspections, loan application fees, lenders mortgage insurance (if your deposit is under 20%), and moving costs.
For investors, add property management fees, landlord insurance, and potential strata levies. A good buyer's agent will walk you through all these costs upfront so there are no surprises at settlement. We believe transparency is the foundation of a successful property purchase.