Planning on buying a home in the Central Coast NSW?

Buying a new home in Gosford or other suburbs across the NSW Central Coast involves incurring a number of costs, and some of these may be quite unexpected.

We spoke to some of the local property experts to find out exactly what some of these costs are so that you can plan for them.

Property costs to plan for in the Central Coast NSW:

Stamp duty

You may need to settle two kinds of stamp duties:

for property transfer
for mortgage registration

Consult with your local conveyancer and property lawyer about the applicable stamp duties. The amount will depend on the property value.

Building and pest inspection reports in the Central Coast

Make sure you are buying a structural sound property by getting it inspected.

A pest inspection will set you back a few hundred dollars, which could be well worth it, especially if termite damage is detected.

A building inspection report is also a few hundred dollars and will detect potential roofing, structural and damp issues.

It is easy enough to arrange a combined building and pest inspection report with the same service provider.

Central Coast real estate agent fees

Buying a home will most likely involve selling or buying properties or both.

Either case, you will need a Central Coast real estate sales agent involved in the process. Talk to your agent about commissions and their fee structure. Find out if advertising costs are separate and understand how they will promote the sale of your property.

Legal costs related to a Central Coast property purchase

There will be a series of legal costs to settle to finalise your property purchase transfer. These include paying a legal property lawyer or conveyancer to search property titles, look over legalities, finalise contracts, and ensure legal property transfer.

Lending and insurance costs

If you are taking out a loan to buy a new home, you may also need a new mortgage. This may involve some loan set-up costs. Speak to your local Central Coast mortgage broker about what other costs you could expect.

Your lender will impose several fees including application, valuation and settlement fees. Some of these include lender’s mortgage insurance.

Also ask your insurance broker about applicable fees with a change in insurance policy, including building insurance and contents insurance.

Find local businesses in Central Coast right here!

Whether you are buying, selling, or moving, our Sydney and NSW Central Coast Top 3 Local Choice directory can help connect you with vetted and reputable local businesses with confidence.

From local tradies, to real estate services providers, property and finance services we have you covered.