Are you thinking of moving because you need more space? Are you trying to build your dream home? A home extension may be the perfect fit for you if you live in the Perth area.
Finding or building a new home, selling your old home and moving from one home to the other is expensive. Not only does it cost a lot of money, it also costs a lot of time and effort. Here are some of the costs involved in moving to a new home.
Real Estate Commission
You will have to pay a commission to the real estate company that sells your home for you. Your home will sell at the market value, but you are going to lose whatever you have to pay your agent. Let’s take an average of 3%. If your old home is modest and sells for $400,000, that works out to $12,000.
Advertising
Unless the market is hot, you will have to pay extra money to advertise your home. Some real estate agents do the advertising for you, but they usually get 4-5% commission. At the lower rate, that’s another $4,000.
Stamp Duty
Remember, you have to pay stamp duty on your new home. If you are buying a $550,000 home, your stamp duty, mortgage registration fee and transfer fee add up to $20,578. Your total so far is $36,578.
Removalists
If you are going to have removalists take care of your move, it’s roughly $5,000. Your total is now $41,578.
Miscellaneous Costs
Most moves generate at least $2,000 in unexpected and miscellaneous costs. This puts you at $43,578.
That is $43,578 that you might as well be throwing in a sewer. You will never see that money again. It is gone. You are also “out” of all the time and effort you put in. Your children have had to say goodbye to their neighbourhood friends, too.
Find Out About a Home Extension
A home extension or second storey addition can save you a lot of time, money and effort. Turn your current house into your dream house and save money doing it.
Call us today: 1300 948 094.