In this next lesson we’re going to break down the costs related to buying your first commercial property.

In total it will cost between 5% to 7% of your property purchase price to cover all of your fees.

If you will engage a buyer’s agent this will cost an additional 1.5% to 2% on top of that.

Stamp Duty
Will be under 5% in many regions unless you are purchasing within Victoria.
If you want to buy Stamp Duty Free you have two options in ACT and Adelaide.

Legal Fees with a Solicitor
This will range from $2,000 to $4,000

Buying Entity
Whether you decide to set this up in a family trust, company or uni trust this will range in cost from $2,000 to $4,000

Bank Cost
For a valuation most banks will charge between $1,000 to $5,000 depending on the size of the property. Some banks provide this service for free

Additional Fees
This are additional fees you should be aware of through the process: Application Fees, Establishment Fees and Search Fees

Next Up Lesson 5 How To Finance Commercial Property