Startup Costs to Consider

Startup Costs to Consider

Posted on December 8, 2016 by Mirren Property Investment

When people want to find out how much they can borrow, they normally go to bank’s website and find a Loan Repayment Calculator to find out how much they can borrow and what the repayments will be.

If you are interested in this please click here to use our Loan Repayment Calculator.

However, you should also make sure you thoroughly calculate all the the startup costs as well. Otherwise, if don’t know what all your costs are you’ll end up borrowing more money or have to pay more fees. For example just one of these, Lenders Mortgage Insurance (LMI) could cost thousands of dollars.

Here is a list of the costs to consider when investing in Property

Government fees

  • Stamp Duty
  • Mortgage Registration Fees
  • Transfer Fees

Bank Fees

  • Loan Application Fees
  • Valuation Fees
  • Bank Solicitor Fees
  • Bank Disbursement Fees
  • Lenders Mortgage Insurance

Buyers Conveyancing Fees

  • Conveyancing
  • Outstanding Rates
  • Outstanding Water
  • Outstanding Strata Fees

Property Fees

  • Pest and Building Inspection Reports
  • Building and Contents Insurance
  • Moving Expenses
  • Investment Property Fees
  • Surveyors Report
  • Landlord Protection Insurance
  • Real Estate Management Fees

How can you make it easier

These are lot of fees so the way we make it easier is to a buying calculator checklist like the one above to make sure all the costs are known before borrowing and include this in your investment property analysis.

We have a summary of these costs on our resources page, together with lots of additional free calculators and checklists to help you invest safely in property.

If you need some guidance on where to start, take advantage of our free Initial Consultation

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