All Topics / Help Needed! / What are the approximate total costs when purchasing a property?

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  • Profile photo of spudstaspudsta
    Member
    @spudsta
    Join Date: 2007
    Post Count: 11
    June 2, 2007 - 6:45 am

    Hi All,
    I have never bought a property let alone an investment property so i have no idea what costs are involved.
    Could somebody list what you have to pay for and an approximate cost (I realise it is hard but an approximate would be good)

    Is it a certain percentage of the cost of the property, say 10-15% is what you need upfront for stamp duty, legal costs, etc?

    While on this topic, when renting out a property, what does the landlord have to pay for? i.e. Rates, Water bills, etc?

    Thanks guys

    Profile photo of GlascoGlasco
    Member
    @glasco
    Join Date: 2007
    Post Count: 19
    June 2, 2007 - 9:53 am

    Hi Spudsta,

    I was in the same position not so long ago and asked the same question on this forum. I received some usefull feedback that can be found at:

    https://www.propertyinvesting.com/forums/property-investing/help-needed/427468?

    Hope it helps you also.

    Profile photo of HandyAndy888HandyAndy888
    Member
    @handyandy888
    Join Date: 2005
    Post Count: 160
    June 2, 2007 - 10:21 am

    Speak to your bank and/or broker….they will give you a rough estimate in approx. 20seconds…

    In general, I would say 5-7% of property for fees…

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