Before you purchase a new home there are a number of costs to consider to ensure you aren’t caught by surprise when working through your finances. These include:
- Your current property value: Do you really know how much your property is worth?
Click here to get an estimate of your current property’s value
- Lenders Mortgage Insurance: Depending on the equity in your current home and the cost of your new home, you may need to pay LMI on the new loan
- Stamp Duty: Stamp duty fees are based on the property’s selling price and the amounts vary between states
- Agent’s fees: If you are listing your property through an agent, consider where the funds for the agent’s fees will come from
- Bank fees: As with any refinance, it is important to work with your Resolve Finance broker to ensure that you get the best loan for your situation and avoid unnecessary lender fees.
- Moving costs: Including storage if required, hire of movers or a rental truck, any items within the home that may need to be completed as soon as you move in.