Need help on breakdown of initial costs of buying IP

[kristy77]

We are looking at buying our first IP. It will cost us around $145,000, with a rental return of $185/wk.
The loan we are looking at is 95% with 7.25% fixed.
I am wondering how much all the extras are going to cost? I already know the stamp duty, mortgage reg fee, transfer fee, mortgage insurance.
What are the other extras and the average costings? (Can't find cost on Valuation etc).

thanks,
Kristy

 

[Peter_Tersteeg]

This might help. It estimates the purchase costs, but doesn't factor extras like your share of the rates. LMI is also an estimate.

 

[Qlds007]

Kristy

Might want to recheck that fixed rate with your lender as many have put their interest rates up this week.

 

[kristy77]

Thanks.

Can anyone give me an approximate cost of having a quantity surveyor go through a house?

 

[yo yo ma]

Usually around $500-600 but it depends on the size, age & location of the house... maybe send an email or PM to depreciator?
http://www.somersoft.com/forums/member.php?u=4313
Steve