What's it cost to buy or sell a home?

In general, I advise clients to plan on 5% (of the purchase price) to buy and 3% (of the sale price) to sell. {eg to buy a $600,000 property costs approx $30,000, or to sell it costs approx $18,000 - rough planner}.

The biggest costs to buy is property stamp duty, and biggest cost to sell is real estate agent fees. There is a few thousand dollars in bits and pieces (mostly legal and transfer fees), but those are the biggies. ... I do a lot of planning numbers for clients in terms of buy/sell transition strategies.

Common client questions are ; (1) can I do it? (2) how much deposit do I need? and (3) what are my repayments?... If those numbers/answers are promising to the client, then I'll encourage them to think about how they feel about the target outcome as the goal. It's got to feel right... At the planning stage, many of my clients like complimentary suburb data reports I produce (using PriceFinder data) to show them a list of what specific properties are selling in the area at what prices, and price trends/moves over time....

Buying and selling is also an emotional experience so I like to regularly check in on "how do they feel" about the direction our discussions are heading. I want to make sure we stay on track to meet the clients goals.