Hi
If I was to buy my first investment property somewhere out in Armidale, Broken Hill, Muswellbrook or Wagga Wagga (any country town) etc. for prices anywhere between $60,000 - $160,000
What basic amount of money do I need to save before I can go ahead to buy.
A few of my friends have bought their PPOR and received the FHOG and mentioned that the $7,000 covered most of the costs. Is this about right? So, would I need the 3% - 10% deposit + $7K or are there more costs involved for IPs eg. taxes, insurances etc?
What are the costs? eg. if a property is $100,000, I will need $5,000 (5%) Deposit + ???
Thanks for any help
Loz
If I was to buy my first investment property somewhere out in Armidale, Broken Hill, Muswellbrook or Wagga Wagga (any country town) etc. for prices anywhere between $60,000 - $160,000
What basic amount of money do I need to save before I can go ahead to buy.
A few of my friends have bought their PPOR and received the FHOG and mentioned that the $7,000 covered most of the costs. Is this about right? So, would I need the 3% - 10% deposit + $7K or are there more costs involved for IPs eg. taxes, insurances etc?
What are the costs? eg. if a property is $100,000, I will need $5,000 (5%) Deposit + ???
Thanks for any help
Loz