tabby

Wondered if anyone new the buying cost, fees etc.... when buying a house in OZ.

I hear it is quite expensive !!

Also any tips on which surveys etc...... I should opt for

Thanks

moneypenny20

Where are you headed for Tabby? It all varies in each state.

ABCDiamond

Example: $300,000 property, with a $150,000 mortgage

An "indication" of Government Fees covering Mortgage Registration Fee, Transfer Fee, Stamp Duty on Transfer, and Stamp Duty on Mortgage.

QLD $ 3,813.80
NSW $ 9,685.50
ACT $ 9,748.00
TAS $10,281.50
NT $10,830.00
WA $11,285.00
SA $ 13,010.00
VIC $14,536.20 (you can check accurate figures on each State website)

Plus maybe a $1,000 or so for conveyancer. Then fees for Pest Control and Building Survey, maybe another $500.

Stamp Duty Concessions are available for First Home Buyers

First Home buyers are offered discounts on Stamp Duty for their first residential purchase, in most States. Conditions and rates are different for each State, and are liable to changes. Example currently include:

NSW - No stamp duty on your first residential property in NSW if it is less than $500,000

QLD - No duty applies to the purchase of their home up to $250,000

SA - First home purchases up to $80,000 will continue to receive a full concession

VIC - Full exemption from duty on the transfer of land applies where the value of the house and land purchased is $150,000 or less, with some special conditions.

WA - NO stamp duty on your first residential property if it is less than $250,000

The above are valid as at Nov 2005, and may be subject to conditions. Please read the relevant State websites.

You will also probably be entitled to the First Home owners Grant of $7,000

Houses

tabby

Brisbane, bayside in 6 days :scared: :scared: :scared:

Vash the Stampede

South Australia will be abolishing stamp duty on mortgages; Victoria already has:

• Well I welcome the news today that the South Australian Government has announced that it will be abolishing stamp duty on mortgages. This of course is one of the taxes that was slated for abolition as part of the introduction of the GST.
  
  The States are clearly in the financial position now where they can abolish those nine taxes and they include stamp duties on mortgages – South Australia is now the first State to have announced that it will be abolishing that stamp duty – Victoria has already done so. I call on all of the other States to follow suit.
  
  This is why the GST was introduced so that other taxes could be abolished – and stamp duty on mortgages should be abolished under the GST Agreement and I welcome the fact that South Australia is now doing that.

Source.

Now that's something you would never get in the UK.

marco121068

Here's another site with some useful info

From memory - buyers in some states (though unfortunately not SA) get a stamp duty concession even if they have owned property somewhere in the world. With SA it must be your first property EVER.

ABCDiamond

The interesting State for the Stamp Duty (Property Transfer) First Home owners concession is the ACT, the only State, so far, to have an income test on it.

"Applicants must have combined income of no more than $100,000"

J+J

We've just bought in Bayside and ABC's info is on the mark (As usual)

You're arriving on Boxing Day!!! Hope you've got some digs sorted 'cos there won't be much open. I'm sure you must have though.

Anyway welcome to Bayside, If you love it half as much as we do "You'll be wrapped"

J

ABCDiamond

Take your time in buying, and look around

tabby

Thanks for your kind words, we are arriving on the 29.12.05 and will be staying with my SIL in orminston.

tabby

Will do, or at least will try it so hard not having you own place as we have been with MIL 3 months + :scared:

ABCDiamond

I see... so you arrive on Dec 29, and will want to buy on the 30th

tabby