Purchasing Costs Calculator
Use this calculator to estimate the total costs of purchasing a home, beyond just the property price.
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Property Purchase Cost Calculator
What are the costs of buying a property?
When purchasing a property, you should budget for up to 5% of the contract price to cover fees, duties, and charges. For example, on a $500,000 purchase, these costs could amount to as much as $25,000.
The main government fees associated with buying a home are:
Enter your details in the purchasing costs calculator and you’ll get an idea of the government fees that will apply.
If you’re a first home buyer, buying a new property or building a home, you may be eligible for additional concessions or grants. Please contact your state government office for confirmation.
Alternatively, you may also qualify for the First Home Loan Deposit Scheme if you’re a first home buyer.
What Are The Other Hidden Costs Of Buying A House?
There are a range of additional costs which aren’t included in this calculator:
There may be other costs such as repairs to the property, renovations, hiring a removalist and council / council/water adjustments. You should discuss the costs of buying a property with your conveyancer.
Note that you’ll have to pay a range of different costs when selling property too.
Did you know some of our lenders offerpurchase cash backs for property buyers? This can help you offset some of the costs of purchasing a property and in some cases, you can even pocket some money.
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Why do lenders assess my 'Funds to Complete'?
When you apply for a loan, the lender may ask for evidence of your deposit and won’t approve your loan unless you can prove that you have enough funds to cover the costs, as well as the difference between the purchase price and loan amount. This is known as a Funds to Complete Calculation.
They do this check because if there’s a shortfall of funds, some people end up taking out a short term loan or credit card to make up the difference. This additional loan can then impact their ability to repay their mortgage.
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Relevant Areas
Calculate Stamp Duty
Get an accurate estimate of the stamp duty costs based on your property value and location, so you can budget for this mandatory expense.
Estimate Legal and Conveyancing Fees
Account for the costs of legal processes and conveyancing services required during the property purchase.
Incorporate Lenders Mortgage Insurance (LMI)
Understand if and how much LMI you’ll need to pay when borrowing more than 80% of the property value.
Include Government and Transfer Fees
Factor in additional fees, such as transfer duties and other government charges, often overlooked in budgeting.
Consider Moving and Setup Costs
Include expenses like moving services, utility setup, and initial repairs or renovations for a complete financial picture.
Break Down Deposit Requirements
See how much deposit you’ll need upfront and how it impacts other buying costs, helping you plan effectively.
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