Buying Costs Calculator

A buying costs calculator estimates the full cash required to purchase a property in Australia. It combines the deposit with government charges, professional fees and loan costs. Every buyer benefits from one, but first home buyers and investors with tight cash flow get the most value.

Upfront buying costs are the expenses paid on top of the property's price, including stamp duty, conveyancing, inspections and loan fees, and they can add tens of thousands of dollars to the cash a buyer needs. Stamp duty alone can be the largest single cost after the deposit, and it varies widely by state, price and buyer type.

You'll get the most from the calculator if you're at one of three stages. You might be saving for a deposit and wondering what target to set. You might be comparing two price points and want to see what the extra $50,000 really costs. Or you might have a property under offer and need to confirm you have enough for settlement.

The calculator gives you a clear total and a breakdown. Change the price, the state, or the buyer type, and the numbers update. It's a planning tool, and a broker can turn the estimate into a firm figure.

See how to estimate the upfront costs of buying a property, including your deposit, stamp duty and additional expenses.

Budget for stamp duty, legal or conveyancing fees, building and pest inspections, loan application and valuation fees, mortgage registration and title transfer fees, and LMI if your deposit is under 20%. Add moving costs and immediate repairs too. Each item is small, but together they matter.

• Stamp duty (transfer duty). Paid to your state or territory government. The amount depends on price, location, and whether you qualify for a concession or exemption.
• Legal or conveyancing fees. Covers contract review, searches and settlement. Get quotes from two or three providers.
• Building and pest inspections. Paid before you buy, and worth every dollar. A failed inspection can save you far more than it costs.
• Loan costs. Application fees, valuation fees and settlement fees. Many lenders waive some of these, so ask.
• Mortgage registration and transfer fees. Government charges for registering your title and mortgage.
• Lenders mortgage insurance. LMI is commonly required when your loan-to-value ratio exceeds 80%, although exemptions and alternative arrangements may be available depending on the lender and loan program. Some lenders allow LMI to be added to the loan rather than paid upfront, which can increase your loan balance and total interest costs.
• Moving and setup costs. Removalists, utility connections, and the small purchases that add up fast.
• Buffer for immediate repairs. Older homes rarely settle with nothing to fix.

Stamp duty rules and concessions change with each state budget. Check your state revenue office for current rates (see MoneySmart for an independent overview), or ask your broker to confirm before you set your savings target.

You enter the purchase price, your state or territory, and your buyer type. The calculator estimates stamp duty, adds the fees that apply, and shows the total cash needed on top of the loan. You can then adjust price or deposit to see how the total changes.

Here's how to use it:

1. Enter the purchase price you're considering.
2. Select your state or territory, since stamp duty differs across Australia.
3. Choose your buyer type: first home buyer, owner-occupier or investor. Concessions often depend on it.
4. Enter your deposit to see whether LMI is likely to apply.
5. Review the total, including the itemised breakdown, and compare it against your savings.
6. Re-run the numbers at a different price to see how each $25,000 changes your cash requirement.

A worked example

Say you're buying a $700,000 home with a 10% deposit of $70,000. Your loan is $630,000, and your LVR is 90%, so LMI probably applies. On top of the deposit, you'll pay stamp duty, legal fees, inspections, loan costs and registration fees. Depending on your state, those extras can easily push your needed cash well above the deposit alone.

This example highlights why your deposit should not be treated as your complete purchasing budget. Before making an offer, consider how stamp duty, lender fees and other expenses may affect your available funds. Your actual costs will depend on the property's location, your eligibility for concessions and your loan arrangements.

Buyer type changes your costs mainly through stamp duty concessions, LMI options and available grants. First home buyers often receive concessions that owner-occupiers and investors don't. Investors typically pay full duty but have different tax considerations after purchase.

The calculator is part of the ICM Hub, which offers a free account level. You can create a free account and start using tools straight away. Some services unlock when you become an Investors Choice Mortgages client.

What you're really paying for, if you become a client, is broker help. Most home loan borrowers don't pay a broker directly, because brokers are usually paid by the lender. Ask us to explain how we're paid before you proceed.

Buyers who plan costs early tend to move faster and with fewer surprises, because they know their ceiling before they start looking. Here is one story from the Investors Choice Mortgages client stories.

Emma R. from Brisbane went from her first consultation to owning her first home in six months. Planning her total cash requirement early meant she knew her budget before she went looking, so she could focus on properties she could actually settle.

Sarah K.'s refinance is a different example, and it shows that costs matter after you've bought too. Her switch saved $340 a month, and she was through the process in three weeks. Learn more on our refinancing page.