Rough purchase costs for cash flow calculation - Perth
- Thread starter Catalyst
- Start date
http://www.westrealestate.com.au/Stamp-Duty-Calculator.aspx Calc there for stampduty
Conveyancer is probably the best one to guide on what disbursement and council / water costs will be payable upfront to carry you through to the financial year.
LMI calc here https://www.homeloanexperts.com.au/lenders-mortgage-insurance/lmi-calculator-new2/ Its pretty rough though. Best to ask your Broker. Broker can also give you a run down of other upfront costs too.
Conveyancer is probably the best one to guide on what disbursement and council / water costs will be payable upfront to carry you through to the financial year.
LMI calc here https://www.homeloanexperts.com.au/lenders-mortgage-insurance/lmi-calculator-new2/ Its pretty rough though. Best to ask your Broker. Broker can also give you a run down of other upfront costs too.
Thanks Dave. Need ballparks to evaluate the various properties and eventually select one...hopefully
What estimates do you use for:
Conveyancing $1000-$1200
Pest inspection $400-$500
Building inspection $400- $500
Title search - part of conveyancing
Property manager 10-20%
Letting fees- incl above or 1-2-3 weeks plus advertising
What else?
See above plus
Loan interest
Expected rent
Insurance around $1000
Council rates $1200-1500 or more
Water rates $1000-1500
A percentage for maintanence
Land tax if applicable
Accountant fees $100- $1500 depending
Thanks HD Much appreciated.
The list so far:
Loan interest
Expected rent
Insurance around $1000
Council rates $1200-1500 or more
Water rates $1000-1500
A percentage for maintanence
Land tax if applicable
Accountant fees $100- $1500 depending
Conveyancing $1000-$1200
Pest inspection $400-$500
Building inspection $400- $500
Title search - part of conveyancing
Property manager 10-20%
Letting fees- incl above or 1-2-3 weeks plus advertising
Is the property manager 10-20% of annual rental? Is the letting fee different from one PM to another PM? 1,2 or 3 weeks?
What is the % that you set aside for maintenance? I'm guessing a higher % for older properties.
Much appreciated.The list so far:
Loan interest
Expected rent
Insurance around $1000
Council rates $1200-1500 or more
Water rates $1000-1500
A percentage for maintanence
Land tax if applicable
Accountant fees $100- $1500 depending
Conveyancing $1000-$1200
Pest inspection $400-$500
Building inspection $400- $500
Title search - part of conveyancing
Property manager 10-20%
Letting fees- incl above or 1-2-3 weeks plus advertising
Is the property manager 10-20% of annual rental? Is the letting fee different from one PM to another PM? 1,2 or 3 weeks?
What is the % that you set aside for maintenance? I'm guessing a higher % for older properties.
Yes % of anual rent. Usually 7-10% plus all the fees so 10-20% overall. Dependant on pm and amount of properties.
Maintenance is preference maybe around the 1% of value mark or Can just take it as it comes but can sometimes be costly ie hot water system 3k aircon 2k etc
But things like yearly
smoke alarm inspection and maintenance $100
Gutter cleaning $150 odd
Etc etc
Maintenance is preference maybe around the 1% of value mark or Can just take it as it comes but can sometimes be costly ie hot water system 3k aircon 2k etc
But things like yearly
smoke alarm inspection and maintenance $100
Gutter cleaning $150 odd
Etc etc
LMI isn't a huge cost generally, as it's added onto the loan. Over 30 yrs it can be up to around $50-100/mth depending of course on loan size and interest rate.
Other upfront costs vary depending on lender, but many have close to no upfront fees at the moment other than settlement - around $3-500, and (maybe, depending on the products you choose) a package fee which is usually up to $400.
