11 Property might be one of life’s biggest investments — but the price tag on a house is rarely the full picture. From stamp duty and styling to legal fees and loan costs, it pays to know what’s ahead. The Hidden Costs of Buying and Selling Property SITCHU MAGAZINE For Buyers Understanding the Real Cost of Purchasing Property You’ve done the hard work. Saved your deposit, secured preapproval, and found the perfect place. Before you finalise your offer, here are a few additional costs to keep in mind: Stamp duty A major upfront cost that varies by state and property value. Most banks offer online calculators to help estimate this amount. Building & pest inspections While optional, these inspections provide valuable peace of mind and can help avoid costly surprises down the track. Legal & conveyancing fees Engaging a legal professional is essential for a smooth transaction. They’ll review the contract, manage the title transfer and flag any potential issues. Bank fees & lender’s mortgage insurance (LMI) Your loan may include valuation and application fees. If your deposit is under 20%, LMI may apply, it protects the lender but is paid by the borrower. Council & utility adjustments At settlement, you may need to reimburse the seller for prepaid council rates or utilities. It’s a small detail that can often be missed. For Sellers Costs To Consider When Preparing Your Home for Sale Even with a strong sale price, it’s important to factor in selling expenses so there are no surprises come settlement. Here’s what to expect: Agent commission & marketing A good agent is worth the investment. Clarify what’s included in their fee, and understand the cost of marketing, such as professional photography, premium listings, and digital promotion. Styling & presentation Creating a strong first impression can add value. Whether it’s fresh paint or professional staging, these enhancements are often well worth the spend. Legal & conveyancing fees Just like buyers, sellers require a legal expert to handle documentation and disclosures. Transparency around fees is key. Mortgage exit fees or break costs If you’re repaying a fixed-term loan early, check whether any exit fees apply. Capital Gains Tax (CGT) If the property isn’t your principal place of residence, CGT may be payable. It’s best to speak with your accountant early in the process. Looking for more tips for your property, or thinking about buying or selling your home? Visit belleproperty.com/sell How To Stay One Step Ahead While these costs are part of the journey, being informed helps you plan strategically and maximise your outcome. Ask for clarity: Explore multiple quotes and services to find the right fit for your goals. Build in a buffer: Set aside an additional 5% of your property budget to cover unexpected expenses, just in case. At Belle Property, we’re here to guide you through every step with clarity and confidence. Whether you’re buying or selling, our local experts can connect you with trusted professionals and help you make informed decisions every step of the way.
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