{"id":1853,"date":"2018-04-30T11:16:49","date_gmt":"2018-04-30T01:16:49","guid":{"rendered":"https:\/\/www.inspectmyhome.com.au\/blog\/?p=1853"},"modified":"2019-07-09T12:32:52","modified_gmt":"2019-07-09T02:32:52","slug":"five-hidden-costs-of-buying-a-home","status":"publish","type":"post","link":"https:\/\/www.inspectmyhome.com.au\/blog\/five-hidden-costs-of-buying-a-home\/","title":{"rendered":"Five hidden costs of buying a home"},"content":{"rendered":"

We are all well aware of the initial costs of buying a home…At least, we think we are. Often it’s where the money is spent that comes as a shock to first – home buyers<\/a>.<\/p>\n

It’s not over once the deposit has been saved and the winning offer made. Below are the five areas identified by experts where hidden costs are likely to exist.<\/p>\n

<\/p>\n

    \n
  1. Pre-purchase research<\/li>\n
  2. Conveyancing fees<\/li>\n
  3. Government and bank fees<\/li>\n
  4. Moving in, and moving tenants in<\/li>\n
  5. Landscaping and repairs<\/li>\n<\/ol>\n

    1. Pre-purchase research<\/h3>\n

    Failure to research can prove costly. Mortgage Choice CEO John Flavell said it was vital to conduct proper pest and building inspections<\/a>.<\/p>\n

    “It is a small amount to pay for peace of mind and it can help you to avoid buying a property with structural faults or insect infestations”<\/p>\n

    Building & Pest Inspection Prices<\/a><\/p>\n

    2. Conveyancing fees<\/h3>\n

    Some first home buyers are surprised to discover they need to engage a conveyancer or are alarmed by the price.<\/p>\n

    It is common to see first-home buyers making mistakes that could cost far more in the long run than the $1500 – $2000 conveyancing fee.<\/p>\n

    3. Government and bank fees<\/h3>\n

    When it comes to home loans there is the loan application fee, ongoing bank fees, lenders property valuation and depending on your situation possibly lenders mortgage insurance.<\/p>\n

    4. Moving in, and moving tenants in<\/h3>\n

    When a vendor moves out, there’s not a requirement for how clean the apartment has to be.<\/p>\n

    If the property is left in a passable condition, but not clean enough to meet the standards of a rental property, it might require a professional cleaner and a $500 – plus outlay.<\/p>\n

    5. Landscaping and repairs<\/h3>\n

    Putting aside a slush fund is definitely advisable to cover unexpected expenses such as a lawnmower,\u00a0 blinds, security screens, servicing of appliances eg air conditioning and general house maintenance items.<\/p>\n

    To read the article by Nicole Frost click the link below<\/p>\n

    Read the article in full<\/a><\/p>\n

    If you require a building and pest inspection, book online<\/a> with Inspect My Home or call us on 1300 337 447.<\/p>\n

     <\/p>\n

     <\/p>\n

     <\/p>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    We are all well aware of the initial costs of buying a home…At least, we think we are. Often it’s where the money is spent that comes as a shock to first – home buyers. It’s not over once the deposit has been saved and the winning offer made. Below are the five areas identified … <\/p>\n

    Continue reading “Five hidden costs of buying a home”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1858,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,3,10,27,11,4,13,26,14,9,25,2,6,18,35,19,16,8,7,24],"tags":[],"class_list":["post-1853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brisbane","category-cairns","category-central-coast","category-city-of-swan","category-coffs-harbour","category-gold-coast","category-newcastle","category-perth-north","category-northern-rivers","category-nsw","category-perth","category-qld","category-sunshine-coast","category-central-west","category-eastern-suburbs","category-inner-west","category-northern-beaches","category-toowoomba","category-townsville","category-wa"],"yoast_head":"\n5 Hidden Costs Of Buying A Home - Inspect My Home<\/title>\n<meta name=\"description\" content=\"Five things to consider that can add to the overall cost of buying of buying a house. 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