When people are planning to buy a house, the first thing they think of is “do I have enough money for a deposit?”. But the expenses of buying a house don’t end there – in fact, there are many more costs people must know about in advance, so they would have a chance to save enough money.

Here’s a list that covers most of the house-buying expenses:

• Valuation – if you would like to know what’s the real value of the house you are buying
• Pest/termite, building, swimming pool inspections – to make sure that nothing is terribly wrong with your future home
• Buyer’s agent – if you choose to get help from professional that will look for a house and negotiate instead of you with the estate agents.
• Conveyancing - to transfer the property from previous owner to you
• Deposit – the heaviest expense
• Stamp duty – a tax you pay to the government. Find out how much you will pay using this stamp duty calculator
• Mortgage application fee
• Mortgage insurance – to cover the lender in case you can’t repay the loan
• Home and contents insurance – to cover your asset and possessions
• Moving expenses
• Utilities connection

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