Buying In Australia

When purchasing a property in Australia you need to be aware of the costs involved. These may vary from State to State and include the following;

• Stamp Duty*
• Registration Fees
• Solicitors Fees
• Pest & building Report
• Bank Application Fee
• Lenders Mortgage Insurance (generally applicable to loans that exceed 80% of the property value for Full Documented Loans and 60% of property value for Low Documented Loans)
• House Insurance**

* Concessions apply for First Home Buyers

** It is the Buyers responsibility to insure the house 5 days after the signing of the contract

First Home Owners Grant

If you are a permanent resident of Australia and are purchasing your first home with the intention to occupy it, you could be eligible for the grant. Again, this may vary from State to State, but in Queensland the current grant is $7,000.