.........I nearly fainted. It's a good job I was sitting down.
I have just been looking through the realesate website for houses in different suburbs and seeing what house you can get for your money - or not.
On their website they have a tool that lets you calculate the amount of stamp duty you have to pay when purchasing a house. So I put some figures in and I had the biggest shock of my life. The amount was extortionate. I didn't realise, til now, just how much you had to pay.
For example, on a house for $280,000, borrowing 80% (the maximum amount I believe we can borrow on our temp 475 visa) the stamp duty came out at $12,000.
I begrudged paying 1% when we bought this house.
What with the exchange rate being less than when we started this process back in July of last year and the amount of stamp duty you have to pay, we will seriously have to re-think about what we buy.