What are the costs of buying a house in South Australia?

Legal fees can fall anywhere between $500 and $3,000, depending on the complexity of contracts. Applying for a loan can incur a fee up to $1,000, but this is seldom imposed. Often, the lender will waive the fee. Having a home independently valued will cost you back around $300-$500.

How much is stamp duty in SA on houses?

How stamp duty works in South Australia

Property value Stamp duty payable
$50,0001 to $100,000 $1,080 plus $3.50 for every $100 or part of $100 over $50,000
$100,001 to $200,000 $2,830 plus $4 for every $100 or part of $100 over $100,000
$200,001 to $250,000 $6,830 plus $4.25 for every $100 or part of $100 over $200,000

How much is emergency services levy in SA?

The fixed charge component is $50. The fixed charge does not apply to properties located in Regional Area 3. Properties with a land use factor of special community use, such as charitable organisations, hospitals, public halls and nursing homes have a fixed charge of $20.

Do pensioners pay stamp duty in South Australia?

This concession assists seniors to downsize to more suitable homes as they get older. Queensland, New South Wales, South Australia and Western Australia do not currently offer a seniors-specific stamp duty concession, although WA does have a general concession for off-the-plan apartments (as at 20 April 2020).

How much deposit do I need for a house in South Australia?

The deposit Usually, this is up to 10% of the purchase price. You will need to organise for the transfer of the money to the vendor’s agent or conveyancer who will hold it in trust until settlement.

How much money do you need to buy a house in Adelaide?

In Adelaide, the median house price is $542,474. At a low-deposit 5 per cent home loan, you’ll need a $27,123 deposit up-front, but will again have to factor in the extra LMI costs with your total mortgage. If you’re putting a 20 per cent deposit down, you’ll need to have $108,494 saved.

How much does conveyancing cost in SA?

From research to settlement, a typical service will cost around: $371.00 for Government and council searches. $880.00 for conveyancing fees.

Do first home buyers pay stamp duty in South Australia?

Are there any stamp duty concessions in South Australia? Unlike many other States and Territories, South Australia currently offers no stamp duty concessions or exemptions for first home buyers. Additionally, since 1 July 2018, there is no concession or exemption for buyers who purchase property off-the-plan.

How much land tax do I pay in SA?

New Land Tax Rates 2020-21

Net Taxable Site Value General Rate Trust Rate
$0 – $25,000 nil nil
$25,001 – $450,000 nil $125 + 0.50%
$450,001 – $755,000 $0 + 0.50% $2,250 + 1.00%
$755,001 – $1,098,000 $1,525 + 1.25% $5,300 + 1.75%

What is emergency services levy SA?

The emergency services levy is a levy on all real property and mobile property for funding emergency services across South Australia. The mobile property component is included as part of your vehicle registration. RevenueSA administers the emergency services levy on real property.

Is there a first home buyers grant in South Australia?

First Home Owner Grant You may be eligible, as a first home buyer for a grant of up to $15,000 on the purchase or construction of a new residential home in South Australia.