The true cost of home ownership (from rates & repairs to termite infestations)

Sep 30, 2024

Homeownership in Australia comes with many hidden costs. Beyond the initial purchase, homeowners face ongoing expenses like termite damage, structural repairs, and council rates. Personal stories reveal unexpected financial burdens, including emergency repairs and yard maintenance. Budgeting wisely and considering insurance for high-value items are emphasized. The hosts share tips on sourcing secondhand furniture and making smart investment choices, highlighting the balance between aesthetics, essentials, and long-term financial health.

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Intro

00:00 • 2min

Navigating Homeownership Costs in Australia

01:37 • 25min

Navigating the Hidden Costs of Home Ownership

26:26 • 2min

Navigating the Costs of Home Furnishing: Budget Tips and Resources

28:19 • 2min

The Importance of a Good Mattress in Home Ownership

29:52 • 2min

Hidden Costs of Home Ownership

31:50 • 9min

The Hidden Costs of Homeownership

40:54 • 12min

Concluding Insights on Financial Education and Investment Services

52:47 • 2min

How much does it really cost to own a home in Australia?

There’s a lot of focus on buying properties, but being a homeowner involves many costs, which are often hidden at the start. In this conversation, Kate and Owen will unpack many of the costs of home ownership, share some ballpark figures, and discuss how to save, prepare, or mitigate these costs!

Plus, we asked our community members about some of the unexpected costs of home ownership that they believe people should know about, which we’ll share throughout this episode.

Series resources

Ask a question: https://bit.ly/3QtiY00
Access Show Notes: https://bit.ly/R-notes
Rask Community: https://bit.ly/3UkFWel
Kate's book, Buying Happiness: https://bit.ly/kate-amazon
Invest with Owen: https://bit.ly/R-invest
Mortgage Broking: https://bit.ly/broke-rask
Financial Planning: https://bit.ly/R-plan
Property Coaching: https://bit.ly/R-P-coach
100-point property checklist (PDF): https://bit.ly/prop-check
Accounting with Grey Space: http://bit.ly/3DG5lWS
Business Coaching: https://bit.ly/o-coach

Pearler, the broker for long-term investors. Sign up using code “RASK” for $15 of Pearler Credit: bit.ly/Pearler

Get 50% off your first two months using PocketSmith: https://bit.ly/R-PocketSmith

DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.

Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg

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