Home Purchase Costs

The final step in this section is working out your home purchase costs – this includes any government fees, legal fees, bank charges and the like.

Click here to open our Home Purchase Costs worksheet

We will start completing the sheet in this section and finish completing it at the end of Property Research when you are ready to make an offer to buy your first home!

What you will need to complete in this step are details about the following costs:

• Loan costs such as establishment fees, brokerage fees – you will be able to complete this section after you have contacted your lender or broker to discuss your loan in Step 2 – Home Finance

• Government fees and charges such as stamp duties, title registration fees and any other government cost payable on buying a home – you will be able to complete this section also after you have contacted your lender in Step 2 – Home Finance

• Legal fees to your representative for acting on your behalf in attending to legal matters associated with buying your home – you will be able to complete this section after you have researched your legal representative in Step 3- Choosing Your Representative

• Agents fees or other charges

Government Assistance

Many governments offer benefits to first home buyers. These can take the form of grants of funds to assist you in the cost of buying your first home, exemptions or reductions from government fees and charges paid in relation to your home purchase or other forms.

You should make enquiries in your area about whether you might be eligible to receive any government benefit or grant which might make purchasing your first home a bit easier.

Your real estate agent, loan provider or legal representative will be able to assist you to find out if there are any benefits applicable.

You can also conduct a web search of relevant government departments in your area and you will usually find relevant forms and contact information on their sites.

You will need to check whether the amount of any government assistance is paid before or after your purchase is completed to see whether you can include any amount in the home purchase costs worksheet.

When you have completed this section - time to move on to Step 2 - Home Finance