Discovering Australia

Buying a Property As opposed to some other states, Australia allows non-residents to buy property and apply for financing in the country. The ease with which expats can obtain a mortgage approval depends on several factors, the most significant of which are the type of visa they are on, and their credit rating. Non-residents will need to gain permission from the Foreign Investment Review Board (FIRB) before they can purchase a property. A potential buyer should carefully research the property when buying a house in Australia. Many of the ‘inexpensive’ homes advertised require substantial investment in addition to the purchase price. Additional costs for the purchase of a property: + Land Transfer Stamp Duty and Government Costs, which vary from state to state is potentially the largest hidden cost of buying a property in Australia + Home loan application fee

+ Valuation and lenders legal fees + Conveyancing costs in Australia + Building, pest and strata reports + Buildings Insurance

Remember to set enough money aside for the deposit, which is usually a minimum 10 per cent of the value of the property. It is strongly recommended to obtain professional advice from a lawyer and/or a conveyancer before and during the process of purchasing a property.

Renting with pets Tenants in rented accommodation may not be permitted to keep pets + In the Australian Capital Territory, renters have the right to own a pet

+ In Victoria, New South Wales and in the Northern Territory, landlords may include “no pet” clauses in the tenancy agreement and their permission is needed to have a pet in a rental property + In Queensland, a written approval from the landlord is needed for letting pets move in + In Western Australia, renters can only keep pets if they have the landlord’s permission and the pet is included in the lease and a “pet bond” is paid. + In Tasmania and South Australia, renters are only permitted to have a pet only with landlord’s consent If you have a pet, you may need a reference from your previous landlord stating that it was clean and well behaved.

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Discovering Australia