Paying a mortgage is just one part of home ownership. Here are some of the other expenses to factor in.
Buying your first home can be a daunting task. Even after you've scraped together a deposit and moved into your new home, you can be confronted by bills and unexpected expenses.
Emily Wallace, a buyer's advocate based in Naarm/Melbourne, says these fees have been increasing in recent years due to rising insurance premiums. "Amenities and additional ongoing maintenance items, such as servicing a lift or car stackers, you might have to get someone out annually ," she says.When buying an apartment or townhouse, Ms Wallace says it's important to understand the body corporate fees and check for special levies or charges. Most buyers engage a conveyancer to help them review important documents and contracts.Another cost that can take new home owners by surprise is insurance.
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Ownership Costs Body Corporate Owners Corporation Expenses Fees How Much Insurance Hidden House Expenses Hidden Costs
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