How To Build Moving Costs Into Your Home Loan Budget

Buying a property can signal a big change in your life.

Moving to a new home has the potential to be pricey, so to prevent this from becoming a problem you may wish to address those costs before you sign the dotted line on your home loan agreement.

At this point you may wish to get advice from a mortgage broker because they can help you plan for these additional costs.

A broker can also advise you on some of the extra payments you will need to account for,  such as a building and pest inspection of your new residence.

Council rates are another monetary concern for home buyers. The amount you are required to pay can vary and it may be dependent on whether your settlement date occurs when the council’s quarterly payment is due.

Another cost is utility connections. The costs of connecting and disconnecting power and phone services can quickly accumulate.

Each of these utility services normally requires a bond to be paid before the companies will connect power, phone and internet. This makes it even more worthwhile to consider these costs within your home loan budget.

To get more detailed information about your situation, talk to a Loan Market mortgage broker today.