The Hidden Costs of Buying at Home

Having a Little Bit Extra

You may have done all your research and been prepared for all the major hidden extras, but you should always set aside a little bit extra for those expenses you are not expecting. Expenses like moving fees, utility connections, mail redirection etc.

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Everything Adds Up

It is really important to consider all the extra costs that can / will apply to your property purchase otherwise the settlement time can be extremely stressful.

As a general rule if you factor in an additional 5-7% of the purchase price, on top of your deposit it should be approximately enough to help you cover the hidden extras.

Building, Pest and Strata

Having a building and pest inspection carried out on any property is usually a requirement by the lender but they are well worth investing in regardless.

If you are considering purchasing a unit or apartment, it is also in your best interest to have a strata inspection conducted – that is a report on the assets, liabilities and financial position of the apartment complex. Tree trimming and removal

While having a building, pest or strata inspection completed on the potential property will cost you initially, it could be an invaluable safeguarding against buying a lemon.


Every lender requires a valuation of a property before they are willing to lend, this is to ensure that the property is worth the asking price. A standard valuation generally costs between $300 to $500.

Loan Fees

There are a number of fees associated with taking out a home loan so it’s critical that you get a clear picture of what you’re facing before you sign.

Loan establishment fees can range from zero to $1000 so make sure you check with your lending specialist.

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5 Signs You Might Need to Move on From Your Home

Is it Time to Move?

No matter how much we might not want them to, most things in our lives end eventually. First loves, summer holidays, even the last season of Game of Thrones. Your relationship with your property isn’t immune to this, as many Australians discover over the course of their lives.

There can be any number of reasons for it, some that you might not even be aware of: But if some of these situations apply to you, it might be time to start considering moving on from your property. However, as you’re about to see, every cloud has its silver lining – sometimes moving on from a property is the best thing that could ever happen to you!

The Kids have Flown the Coop

When you first bought a home, it might have been to partake in that idyllic Australian dream of the big house with the red door and your two kids, right around the corner from the local school and shops. However, as they grow up and move out of the house, you might find that this home simply isn’t the right fit for you anymore.

The Australian Bureau of Statistics (ABS) predicts that by 2031, “empty nest” households (couples with children who have left home) will number 3.5 million. That’s more than any other household type. Changing home as kids move out is a tale as old as time – if yours are heading off to go flatting, think about your next step.
….Or the Family’s Coming Back

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The cost of living continues to rise, while the unemployment rate continues to zig and zag. It often happens that people move back home after some time away – perhaps to save money for a house of their own, or simply because of extenuating circumstances.

In the same way, it often happens that having your own parents move in with you as they get older becomes a preferable option to aged care facilities. Or perhaps you’ve even got another baby of your own on the way! Whatever the exact situation, if you’ve got family asking about this possibility then it may be time to upsize your home and welcome the chicks back to the roost.

A Relationship Blossoms

Your solo apartment might be perfect for a bachelor or bachelorette lifestyle, but if you meet that special someone will it still be sustainable? Do you have space for both you and your partner’s furniture, clothes, toothbrushes and blu-ray collections?

If you’re at a point where moving in with your partner is looming and you’re worried, take a look around: Is it time to upgrade to a property better suited to settling down?

Or Dissolves

It isn’t the most comfortable topic to discuss, but it’s a challenge that many Australians face. In 2013 alone, there were 47,638 divorces approved across the country. Not every relationship lasts forever, and if this happens then a change of scenery might be the most appropriate course of action.

Even relationships that aren’t bound by marriage can sometimes benefit from a change of property for one or both parties. It’s not something we can tell you to do, but it’s an important thing to keep in mind. We buy houses in Port Orange Fl.

The Commute is Too Much

Despite significant infrastructure developments across the country, sometimes public transport or the private commute to work just takes up too much of the day. If this is the case and you’re finding several hours of your day being sunk into driving to and from your house, it might be time to look at a new piece of real estate.

It could be inner city apartment living, a home closer to the right train line or even moving somewhere else for an entirely new job. Whatever the reason, don’t let yourself feel stuck in one place – a change of view could do wonders for you and your family.

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