Why $43,134? Because that's the cost of stamp duty on a $1m house. In the Inner Suburbs of Perth, $1m doesn't really go far. If you were to sell and upgrade to a house that's around that price, you are facing a massive stamp duty cost. Not to mention the Real Estate Agent's selling fees if you sell your current home.
We often meet clients who are in the process of deciding to sell their home or renovate. It's a tough decision that needs careful consideration of what it will cost to renovate.
With this in mind, we recently launched a Guide to the typical cost of renovating, based on homes that we've completed in Perth's Western suburbs, like Floreat, City Beach and Doubleview. Of course where you live in Perth won't change the price of renovating, but our Guide might just help you decide whether it's worth it.
After all, $43,134 in tax just might be better invested in your own home. Get our guide here to find out the typical costs of renovating;