You have finally managed to find your dream house and want to make an offer, but you are concerned about your budget and everyone keeps telling you that with a new house there are so many additional costs you need to take into account. So what should you realistically be budgeting for?
Broadly speaking there are "once off costs" and "regular monthly costs" that need to be considered.
Conveyancing fees are the first “once off cost” item on the list. The seller usually nominates the transferring attorney and the bank will appoint the bond attorney. Accordingly, there will be two separate accounts payable which will fall to the buyer to settle. Apart from the fees for registering the transfer and the bond, which are calculated according to a prescribed sliding, the following items are also included in the accounts of the conveyancers: