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Costs Involved in Purchasing a Property

Transfer Stamp Duty

Stamp Duty is payable as a percentage of your property price and varies form state to state. When Purchasing off-the-plan in Victoria, Stamp duty savings are achievable.

You can find out what the stamp duty fees are in each state by clicking on the links below:
NSW www.osr.nsw.gov.au
QLD www.osr.qld.gov.au
VIC www.sro.vic.gov.au
SA www.revenuesa.sa.gov.au
TAS www.treasury.tas.gov.au/domino/dtf/dtf.nsf/v-sro/001
WA www.osr.wa.gov.au
NT www.nt.gov.au/ntt/revenue/
ACT www.revenue.act.gov.au

If you are looking to invest in a Marshe Investment Property, please dont hesitate to call our office and we can tell you what the stamp duty payable will be on the particular unit you are interested in, in the relvant state.

Conveyancing Fees

You can approach a solicitor or a convenyancer to assist with the legal documentation that is required to be signed and exchanged during the purchasing process. These fees usually range between $1500 and $2000. It is neccessary that you use a solicitor or Conveyancer in the particular state where the proeprty you are purchasing is located.

Mortgage Stamp Duty

Mortgage Stamp duty is a government tax which is assessed on the amount of the mortgage and payable by the borrower.

Registration Fees

This is a state by state associated cost and is payable to the Land Titles office in the partciular state where you have purchased the property.

Mortgage Application Fee

This is the fee that a lender will charge to approve the loan application. This covers their legal costs, valuation costs and admin expenses.

Lenders Mortgage Insurance (LMI)

If you are borrowing more than 80% of the value of the property you are purchasing, then you are likley to pay LMI. In some cases this can be capitalised onto the loan. This insurance is taken out to protect the lender to ensure that the borrowr will make their repayments.  Generally, the cost of LMI is between 1%-1.25% of the loan size.

Property Management Fee

If you are buying an investment property, it is likely that you will employ a local Property Manager to look after your property ensuring it is tenanted, that the tenant pays the rent on time and organises repairs and maintence when required. They usually charge a management fee of 7.7% + disbursements. This fee can sometimes be negotiated.  

As an investment property, this fee is tax deducatble. To find out what other costs are tax deductible, see our Negative Gearing FAQ. 

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