I don't think that there is anything which becomes more all consuming than the dreaded "B"word! Our total budget for this house is $360,000-which becomes quite scary when I remember what the budget was for our first house.....
Within this amount we need to pay for: land (including the stamp duty), house, driveway and crossover, fencing, window coverings and basic landscaping.
Many people fail to allow for the "extra"costs listed above-and receive quite a shock when they realise how much more money they need to find! For example, the stamp duty on our block will be around the $5000 mark. The governement will debit your nominated account for the stamp duty-so it is imperative that the correct amount is available as there will be no date given as to when the stamp duty will be withdrawn-potentially creating a nasty and expensive surprise if your account is overdrawn.
A good lender will factor in and discuss these amounts when you apply for finance.
Part of the process for us over the past few months has been finalising how we will spend our money on this house-what do we really need as opposed to what we want.
Mind you- we have decided that I really need reconstituted stone bench tops! Lucky for me that National Builders Group are offering them as a special inclusion!
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