Hey everyone.
What costs should I include in my calculations to compare the properties im looking at? Is there something I can use to crunch all my numbers and look at my holding costs? Is there also something I can use to see how much equity I would have if I paid using principal+interest too? E.g. something that shows a spreadsheet of 5,10,15,20,25,30 years and how much I would have left to pay off?
so far when calculating my potential property and how much cashflow I'll have I include these things:
property price
down payment
rental income
rental yield
life of mortgage
mortgage rate
repayment type: Interest only or interest + principle
repayment frequency
management fees/rates
LMI
government fees & charges:
stamp duty
transfer fee
registration fee
grants and concession (which is useless as I wont get first homebuyers grant)
buying costs:
conveyancing
building & pest inspection
what are other buying costs?
ongoing costs:
qrtly rates (water, council rates)
qrtly strata
yearly insurance
yearly costs (renovations and other things)
repairs and maintenance
tax and depreciation:
quantity surveying cost
type of building
age of building
size of building
location of building
minimum and maximum claim (plant & equipment and division 43)
claimable loss
tax relief
weekly outcome..
is there a spreadsheet or computer app or something I can put all my numbers in?
Is there anything I'm missing from this list?
What costs should I include in my calculations to compare the properties im looking at? Is there something I can use to crunch all my numbers and look at my holding costs? Is there also something I can use to see how much equity I would have if I paid using principal+interest too? E.g. something that shows a spreadsheet of 5,10,15,20,25,30 years and how much I would have left to pay off?
so far when calculating my potential property and how much cashflow I'll have I include these things:
property price
down payment
rental income
rental yield
life of mortgage
mortgage rate
repayment type: Interest only or interest + principle
repayment frequency
management fees/rates
LMI
government fees & charges:
stamp duty
transfer fee
registration fee
grants and concession (which is useless as I wont get first homebuyers grant)
buying costs:
conveyancing
building & pest inspection
what are other buying costs?
ongoing costs:
qrtly rates (water, council rates)
qrtly strata
yearly insurance
yearly costs (renovations and other things)
repairs and maintenance
tax and depreciation:
quantity surveying cost
type of building
age of building
size of building
location of building
minimum and maximum claim (plant & equipment and division 43)
claimable loss
tax relief
weekly outcome..
is there a spreadsheet or computer app or something I can put all my numbers in?
Is there anything I'm missing from this list?