Hi guys
We have started saving for a deposit and are thinking of building a new home.
I wanted to know how much money we should have put aside apart from this lump sum of a 'deposit'.
We are looking at max of 500k for house and land, so with a minimum 5% deposit we need to save at least $25k.
But then how much extra would we need kept aside for extra costs like legal fees, hidden charges etc?
I just wanted to get an idea of whether once we have our deposit amount we could get started or if we shouldn't even bother til we have an extra 5-10k put aside?
Thanks.