Costs of an investment property

By You and Money

Remember that the costs that you’ll face if you buy an investment property are similar to those you have when you buy your own home. Apart from the cost of the property itself, you’ll still need to pay for things like stamp duty, conveyancing fees and legal fees.

Being the owner means that you’re also responsible for ongoing expenses that relate to the upkeep of the property. This will include council rates, water rates, insurances, owner’s corporation (body corporate) fees and property management fees. If you sell the property, you’ll have to pay agent fees, advertising costs and legal fees. Capital gains tax (a tax on profits when you sell or buy certain assets) might apply too.

One Response to Costs of an investment property

  1. andrew jacobs says:

    SAVINGS TIP:

    Do not save coins, Spend them!!!

    People who save coins in a money jar/box actually end up spending more. This is because they are constantly forced to carry larger sums of money with them, thus possible spending more. They have to withdraw cash more often from ATMs (possible ATM fees). If they spend their coins and leave their money in the bank then that money will generate interest. All these reason are why people who spend their coins will make more money.

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