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Costs...Buying Land in SA

Discussion in 'The Buying & Selling Process' started by Gurtofen, 14th Mar, 2016.

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  1. Gurtofen

    Gurtofen Well-Known Member

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    Anyone know how to accurately calculate the costs of purchasing a block of land in SA?

    Obviously conveyancing costs and rates etc. would be different for every purchase but I would like to calculate as accurately as possible any other costs involved to assist with putting in an offer.

    I have looked at the REISA, SA Revenue and Land Services websites but any first hand knowledge would be much appreciated.
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    Exactly the same as buying a house:

    Stamp duty
    Transfer fee
    Rates and water through to end of fin year
    Conveyancing organises all of the above to go thru settlement including their own fee

    Ask your broker what mortgage related fees will be payable
     
  3. Gurtofen

    Gurtofen Well-Known Member

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    Ok no worries.

    Won't be a mortgage in place so there won't be any fees there...which is nice!

    Are any of the calculators on the above mentioned websites pretty accurate that you are aware of?
     
  4. D.T.

    D.T. Adelaide Property Manager Business Member

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  5. Gurtofen

    Gurtofen Well-Known Member

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    Thanks. Yeah I had been using that as my 'guide' so to speak.
     
  6. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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    Just be mindful that the RevenueSA calculator only gives you the stamp duty calc - you also need the Land Transfer registration fee factored in, otherwise your government charges estimate will be significantly off.

    The actual LTO website is a joke to navigate, so this amalgamated calculator is reasonable to use: sa.gov.au - Calculate property transfer fees
     
  7. Gurtofen

    Gurtofen Well-Known Member

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    Thanks Corey. Yeah I found that one as well and it looks to be more comprehensive so the figures look pretty accurate which is what I was after. I completely agree, the LTO website is hopeless and to be honest I think all the SA websites aren't overly clear.
     
  8. Baker

    Baker Well-Known Member

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    The calculators work better for locals so just send me the details of the property and I'll run the numbers for you.

    You can trust me, my uncle is a high ranking member of the government.
     
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  9. Gurtofen

    Gurtofen Well-Known Member

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    Lol....does that even exist in SA?
     
  10. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Does he have the sum of four million USD that is stuck in the proceeds from the shutdown of the desal plant that he needs assistance with transferring?
     
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  11. Xenia

    Xenia Adelaide Property Manager Business Member

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    Hi Gurtofen, are you purchasing land or a house that you will be knocking down and rebuilding on? What suburbs?
     
  12. Gurtofen

    Gurtofen Well-Known Member

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    Hi Xenia,
    We are looking at all options....my preferred option is to find a decent block and build but my wife's preferred option is to buy established. Was looking at a block but it has recently sold anyway.

    Other 2 options are to find a suitable house but spend a decent amount to get it up the standard we want or to find a knockdown and build. So pretty much open to nearly every option available!

    Preference is in the North East.....Golden Grove, Wynn Vale, Greenwith, Gulfview Heights etc.
     
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  13. Xenia

    Xenia Adelaide Property Manager Business Member

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    Houses are not permanent, you can always knock it down and build exactly what you want. Finding the right block size in the right location is more important.

    Although if it's a nice House in good condition then you will be paying more for the block.