Buying a house isn’t like picking up a piece of clothing in a shop, checking the price tag, and then paying.
Upfront and hidden costs can add as much as $40,000 to the purchase price of a property, so it’s vital buyers understand them. Almost all of the costs depend on the value of the property being purchased and where it’s located.
Different state and territory governments, in charge of costs such as stamp duty and transfer fees, among others, and local councils, who are responsible for calculating rates, also charge different amounts, as do banks and lenders.
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