Buying a house involves more than slapping down a deposit and moving in. There are all manner of hidden costs and financial complexities that ramp up the total price significantly. Once you factor in stamp duty, conveyance fees, mortgage insurance and miscellaneous bank fees, you can expect to pay tens of thousands of dollars more than the advertised price tag — and that's before you take interest, council rates and general upkeep into account. Here are some tips that will help to keep the total cost down to a less terrifying level.
The below infographic comes from the guys at Home Loan Experts. Using a $700,000 Sydney property as a template, it shows how you can keep "hidden" costs down by planning ahead and using common sense tactics. Note that most of the advice below also applies to properties anywhere in Australia.