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Costs Involved

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Important matters to keep in mind when buying a property is whether you can afford it, what the costs are and what extras are payable?

These expenses, and other costs associated with property buying which may seem to be less apparent, can quickly become a problem for any buyer who did not budget for those expenses well in advance. This can cause unnecessary delays and even jeopardise the transaction.

Therefore it is important for buyers to keep home buying costs in mind when hunting for their dream home. 

The cost involved in transferring a property from the seller to the buyer’s name is largely made up of taxes (transfer duty and stamp duty). The transfer costs vary according to the size of the purchase price agreed upon in the contract (sometimes the Receiver of Revenue may question the value and valuation certificates may be required). The higher the purchase price (value), the higher the costs involved in transferring the property. The following costs in transfer of property normally appear on the account from the conveyancer.: 

  • Stamp Duty - taxes
  • Transfer Duty - taxes
  • Deeds Office Fee - taxes
  • Estate Agent Commission
  • Transfer Fee - conveyancer

Per transaction the conveyancing fee is by far the least.

Possible list of transfer and bond costs together with future expenses

A.  Transfer Costs
1.  Transfer Duty Payable                                 
2.  Stamp Duty                                                       
3.  Conveyancer Transfer Fee (incl. VAT)           
4.  Deeds Office Fees    
5.  Estate Agent Commission                                 


Total Transfer Fees

B. Estimate Bond Registration Costs:
1.  Stamp Duty Payable                                    
2.  Conveyancer Fee (incl. VAT)                         
3.  Deeds Office Fees                                          
4.  Bank Admin/Valuation Fees  
5.  Postage and petties                     


Total Bond Costs                           

Total Registration Costs (A+B)                   


C.  Cash Required Upfront 
1.  Deposit required                                                     
2.  Total Registration Costs (Transfer plus Bond)           
3.  Occupational Interest                                      
4.  Other        

Total Cash Needed                      _____________

D.  Monthly Financial Commitment after registration
1.  Bond Instalments                                        
2.  Home Owners Insurance                              
3.  Body Corporate Fees/Municipal Rates & Taxes       
4.  Water/Electricity
5.  Maintenance                             

Total Monthly Commitments                     _______________