The government will strike: Stamp Duty. Usually that is worth about 10% of the value of the property.
The rate of Stamp Duty varies in each Australian State, but in Sydney it is currently around 3.5% to 4.00%
A $400,000 property incurs $13,490 stamp duty or 3.37%
A $600,000 property incurs $22,490 stamp duty or 3.75%
However, if you are a FIRST HOME buyer, then you pay ZERO stamp duty on the purchase of a home up to $500,000. Between $500,000 and $600,000 you pay on a sliding scale, and over $600,000 you pay normal rates.
More info at http://www.britzinoz.com/info/buyingahouse.htm
Being Expats ourselves we have an understanding of your requirementsand help you to settle or buy investment property in Australia.Specialising in Queensland with its great weather and booming economy !Now is the time to do it before the secret is out!Please contact www.villadesign.com.au
for help in all aspects of moving.
Anyone requiring assistance with buying a home or investment property in Sydney please look at our website www.homesearchsolutions.com.au