Buying & Selling Calculator(s)
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A detailed summary of your Selling and Buying results can be found below.
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Fill in your details and we’ll generate a summary of the costs you’d need to consider when buying a new home, selling your home or doing both.
The results from this calculator are an approximate guide only and do not constitute specialist advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.
Buying & Selling FAQs
We have provided answers to a few common questions that we receive about buying or selling property. If you’ve used our buying and selling calculator and read through our FAQs and still have some further questions, don’t hesitate to get in touch with our helpful team today.
Shire rates – the remaining of a full year’s rates have to be paid for at settlement by the buyer. This means if you settle at the beginning of the financial year (July), you’ll need to pay a full year’s rates, and you could be up for a few thousand dollars. If you settle towards the end of the year, you will only need to pay the remaining pro-rated amount.
Lenders Mortgage Insurance premium – if you have less than a 20% deposit, you’ll need to take out lenders mortgage insurance. Depending on the lender you’re with, this cost could be charged as an additional amount, above what you’re already spending on mortgage repayments. Don’t let this be a surprise, check with your lender about how this cost is charged.Foreign buyers’ duty – this is an additional 7% for certain transactions made by foreign buyers acquiring residential property in Western Australia. See if you need to budget for the additional cost.
Real estate agent fees – people tend to overlook the cost of engaging a real estate, but they can charge up to 2.5% of the final sale price.
Conveyancing fees – a conveyancer or settlement agency will facilitate the exchange of property and contracts for you, so you may need to pay a conveyancer for both the sale and a new purchase. Don’t forget to factor in their cost.
Once inspection is done, you may need to do some repatriation work, like fixing obvious damage or arranging a termite inspection. This should be written into your contract and will most likely cost you.
Yes. There are a few options. You might qualify for a bridging loan; this means a lender will allow you to borrow for the new property without making repayments on the new debt portion until you have sold your existing property. Or, you could look to leverage equity that you might have in your existing property. You just need to make sure you have good advice around how to manage these loans effectively.
Established property generally takes 21-28 days to settle once your finance has been formally approved. If you are building, once the titles are issued, it should take 21-28 days to organise formal finance approval, with a further 21-28 days for settlement of your land.