Don't Forget To Budget For Extra Costs

Saving a home loan deposit can require some serious saving, so many home buyers get quite good at cutting expenses and living to a budget.

Once you’ve amassed enough for a down payment however, don’t throw away that budget notebook!

Here are some extra expenses to keep in mind when buying your first house.

Property inspection

Many buyers choose to pay for a property inspection before they make an offer on a house.

This is usually carried out by a qualified building surveyor. You might also opt to have a pest inspection carried out.

Loan fees

Be sure to budget for the home loan application fee. You might also need to pay lenders mortgage insurance.

Talk to a mortgage broker to find out what other lending fees you will need to pay. They’ll be able to tell you how much you need to set aside.

Moving house

It’s not really your place until it’s filled with your personal effects - and no one wants to sleep on the floor! So don’t forget to budget for furniture removal costs.

If you’re planning on moving all your things yourself, you might still need to pay to hire a van or trailer.

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