When you is borrowing 80% of your value of the property make an effort to become with others 20% put additionally the extra closing costs (taxation – in australia we must shell out Stamp Obligations, solicitor otherwise conveyancing fees, application for the loan costs, strengthening and you can pest examination costs, etcetera

For people who up coming need it a second assets you’ll need to built an equivalent deposit or any other closing will set you back again. We do not want to do this any time soon, specifically because the a good majority of the bucks they put to store prior to has started to become planning spend the money for financial and you may servicing of your basic assets (especially if you always say live with your parents and you may today reside in the home and not rent it out). Read More