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The purchase price isn't the only number to consider. Understanding the other potential costs before you buy can help avoid surprises later.
The purchase price isn't the only number to consider when buying property. Understanding the other potential costs before you buy can help avoid surprises later.
Depending on the property, your circumstances and where you're buying, these may include:
For an investment property, there may also be additional ownership and management costs to consider.
Two properties with similar purchase prices can have very different ongoing costs.
An apartment with significant body corporate fees, for example, may have a different overall cost profile from a property without those expenses.
Understanding these differences can help you compare properties more meaningfully.
Stamp duty on residential property in South Australia is administered by RevenueSA. The amount payable depends on the transaction, and exemptions or relief may apply in some circumstances. RevenueSA provides current information and a stamp duty calculator.
Clarity can help you identify and organise property information and costs that may be relevant to your buying decision.
Where financial, taxation or legal advice is required, we recommend obtaining advice from an appropriately qualified professional.
Useful resources: Moneysmart — Buying a house for national buying-cost information, and RevenueSA — Calculate stamp duty for South Australian property transactions.
General information is a starting point. When you'd like personal guidance for your situation, let's talk.
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