Costs of an investment property
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.