When you’re buying a home, it’s important that you take into account all the “other” costs so that you don’t have to live on noodles or baked beans (or fresh air) for the first few months .
These costs include:
- stamp duty – talk to your broker about any exemptions or concessions that may be available
- building and pest inspection – we always recommend that you arrange an independent professional inspection rather than relying on the report provided by the real estate agent
- strata fees – if you buy an apartment or townhouse
- removalist – unless you have mates with utes and are willing to supply beer upon completion!
- home and contents insurance – the lender will need a copy of the home/building insurance
- utilities – gas, electricity, internet connection, etc
- maintenance + repairs – or even just getting someone in to hang pictures and do little odd jobs
- mail redirection
And a pro tip – organise your internet connection ASAP! Because, really, who can live without Netflix these days, let alone work from home without the internet.
As always, and with most things in life, we recommend a budget! Get some quotes, invest well in the things you need to and find cost effective options for others.