billingham

It will probably be in the forum somewhere, just too lazy to look.

What would be a ballpark figure for buying a house in Oz? (Solicitor fees, agents fees, hidden costs etc). We would be getting a mortgage, nothing to sell, and live in NT (if that make a difference), looking at properties up to 600k.

Thanks in advance.

dubstar

not stalking you, but stamp duty is one, one of the only benefits of living across the ditch, we too are looking but queensland 4 us or perth

Trevski

From August 1, the transfer duty payable will be the same for investment homes or principal places of residence.
Currently, an existing home owner who bought a property worth $500,000 would pay $15,925 transfer duty if it was for an investment property or $8750 if it would be their main home.
After the changes, the buyer in both cases would pay $15,525, representing a hike of $6775 on a principal place of residence. The increase would be $7175 on properties worth more than $600,000.
The changes to stamp duty are predicted to raise the government an extra $161 million in the coming financial year and $247 million the following year.

billingham

spartacus

Is that for QLD?

For NT I used this http://www.revenue.nt.gov.au/calcula...c_normal.shtml which on $600,000 purchase price comes out at $29700!

billingham

Thanks for the link, from what I can see there is a 'First home owner concession' up to $26,730 - does that mean there would be nothing to pay?

Trevski

try this , but i think you are correct
http://www.mymoneycalculator.com.au/...ts-calculator/
but i think it is very hard to get a correct figure at the present time because of all the changes,

perthhopeful

No....I have just paid approx $5000 on a $300 000 mortgage, I am a first homeowner (in Oz anyway)
I also was eligible for the first homeowners grant having never owned a property in Oz before :-)

deb68

We thought first time buyers did not have to pay it

Trevski

its changed so the goverment gets more money they now treat all people as investors

spartacus

If it's your first home in Australia then yes, I think you'd be eligible for this http://www.revenue.nt.gov.au/home_assist/fhoc.shtml but it really depends on which state you're buying in. They control transfer duty rates , not the federal government.

fish.01

Was this in Qld? Transfer duty is on the value of the sale rather than the mortgage value. Maybe you are in Perth and talking about Mortgage Duty?

In Qld FHOG is based on first home in Australia where Transfer Duty First Home concessions require it to be your first home worldwide.

Transfer Duty First Home concession is still available after 1 Aug in Qld.

HelenTD

It looks like you get a concession on stamp duty for first home buyers in the NT. Don't forget settlement agent fees, probably a few thousand dollars. More info: http://www.theterritory.com.au/resou...efactsheet.pdf
http://www.moneybuddy.com.au/home-lo...g-a-house.html
http://www.yourmortgage.com.au/first-home-owners-grant/