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03 9510 6904

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  • Areas of Practice
    • Wills & Estates
      • Will FAQ
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      • Buying a Home
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Finance & Costs

When buying a property, you need to calculate the total cost of the transaction, not just the purchase price. There are various fees and charges you need to pay which can add thousands of dollars to the cost of a home. Factor the following into the total cost of purchasing a property.

  • Valuation fees
  • Transfer of registration fees
  • Bank Charges
  • Other professional fees
  • Moving costs
  • Inspection fees
  • Mortgage insurance
  • Stamp Duty

It is important to arrange finance which matches your repayment capabilities. Shop around for finance. Many charges associated with a loan are negotiable and vary enormously between lending institutions. Understand the terms of repayment. Obtain as much information as possible and if necessary, ask the lender to explain the terms and conditions of a loan in writing.

First Home Owners Grant

You may be entitled to government assistance under the First Home Owners Grant assistance scheme. The grant can be used to purchase a property or to build a new home. Application forms are available from the State Revenue Office (www.sro.vic.gov.au).

Stamp Duty Concessions

You may be entitled to a stamp duty concession which will reduce the amount of stamp duty which you are required to pay.

For example, if you purchase a property which will be used as your principal place of residence, a reduced rate of stamp duty could apply. Further information is available from the State Revenue Office (www.sro.vic.gov.au).

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For Further Information

Contact us for more information or to arrange a consultation.

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Location

  • 191 Greville Street
    PRAHRAN VIC 3181

Phone and Email

  • (03) 9510 6904
  • jkeating@keating.com.au

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