Ep123: Cate Bakos - The Cost of Buying

As we get into the swing of autumn's property market, there is still an eagerness with buyers to upgrade, downsize or build their investment portfolio. But with all the hype and excitement of buying, it's not just the purchase price you need to consider. Today, we are going to see what other costs are associated with the buying of property.

A multi-award winning buyers agent, PIPA qualified property investment advisor, media commentator, published author, podcaster and President of the National Buyer's Association, Cake Bakos is the queen of Melbourne property, and is the perfect person to help Real Estate Right listeners understand the cost of buying. 

1. Many people forget that buying property is more than just the sale price, but a whole lot of added extras. What other costs can be involved?

2. As a percentage of the purchase price, how much extra should we factor into the cost of buying?

3. What else can buying property cost you?

4. How can a buyer's advocate make this more streamlined for you?

5. What happens if you've got your strategy wrong and decide to sell and repurchase? What type  of sunken costs can be involved?

6. I've overpaid on a property and it actually lost value when I sold it, so explain some of the costs that can happen if:

   a). There is a valuation shortfall?

   b). A missed or delayed settlement? 

at the other end, if you sold your property for less than what you paid for it, could you claim that as a tax loss, or only if it's an investment property?

7. What invisible stuff is there that many buyers miss?

 

CONTACT:

Cate Bakos can be contacted via her website: catebakos.com.au

or call: 0422 638 362

 

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