Costs Involved in Buying a House

You are unauthorized to view this page.

Obviously, with getting a team together, this is going to come at a cost to you so we thought we would go through some estimates on what things might cost – obviously, this will depend on a property-by-property basis. The more complicated things are, the more it will cost.

Have a conversation with your professionals before you start to get some fee estimates etc. just so you know what you are in for.

  • Conveyancing and legal fees – allow between $1,000 to $3,500
  • Valuation fees – if you decide to get the property valued before making an offer, you can expect to pay around $750 to $1,200 depending on the home size and specs. If you have less than a 20% deposit, you will have to get a valuation done via the bank’s internal ordering systems. Your bank or mortgage broker can do this for you.
  • Building inspection – this depends on the property, but standard house inspection (3-4 bedrooms) will be around $500 to $750. This won’t cover tests like weather tightness assessments, methamphetamine activity, and building defects, which will be charged extra.
  • Mortgage Broker/Bank – usually at no additional cost to you, but it is worth confirming this before you start as some will charge fees. Mortgage Brokers are required under law to provide you with fee disclosures, and it should be publicly available on their website as well.