There are a number of costs when buying and I have just given you a rough idea here. If you have a purchase price we could be more accurate for you but here are the main items to be aware of.
1) Stamp Duty - this is by far the biggest one. If it is a first home there are concessions but I use a rule of thumb of 5% (it is on a sliding scale) at $200k=$6830, at $500k= $21,330
2) Conveyancer Fee - guide of $300 to $800 dependant on price range
3) Search Fee $say $300
4) Registration of Transfer Fee sliding scale but at $200k is $911, and $500k $2411
5) Insurance say $1000
6) Mortgage fees (stamp duty/application/valuation fees) $200k it is $690, at $500 it is $1740
7) Adjustment of rates and taxes (as portion of the year) say $2,000
The first home concessions are significant and up to $14k Bonus ($21k for new) plus $4k Stamp Duty. Go to http://www.revenuesa.sa.gov.au/ for all the detail on the Grant and Stamp Duty.
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Hi William
There are a number of costs when buying and I have just given you a rough idea here. If you have a purchase price we could be more accurate for you but here are the main items to be aware of.
1) Stamp Duty - this is by far the biggest one. If it is a first home there are concessions but I use a rule of thumb of 5% (it is on a sliding scale) at $200k=$6830, at $500k= $21,330
2) Conveyancer Fee - guide of $300 to $800 dependant on price range
3) Search Fee $say $300
4) Registration of Transfer Fee sliding scale but at $200k is $911, and $500k $2411
5) Insurance say $1000
6) Mortgage fees (stamp duty/application/valuation fees) $200k it is $690, at $500 it is $1740
7) Adjustment of rates and taxes (as portion of the year) say $2,000
The first home concessions are significant and up to $14k Bonus ($21k for new) plus $4k Stamp Duty. Go to http://www.revenuesa.sa.gov.au/ for all the detail on the Grant and Stamp Duty.
Regards
Anthony
Anthony Toop
Managing Director
Toop&Toop
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