Property Buying Cost Calculator
How much does buying a property actually cost upfront?
Most people focus on the purchase price and forget about the stack of costs that sit on top of it. Stamp duty, legal fees, inspection costs, LMI, loan fees and more. This calculator brings it all together so you know the real number you need before you start looking.
How does it work?
A property buying cost calculator works out the total upfront costs of purchasing a property on top of your deposit. You enter your purchase price, your state, and a few details about your situation, and the calculator estimates each cost category and adds them together to give you a total upfront figure. Use it alongside the Borrowing Power Calculator to get a complete picture of what you need before you buy.
The calculator has been provided in good faith as a guidance tool only. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. Borrowers should always discuss their individual situation with an Australian Credit Licensee or authorised Credit Representative.
What are all the upfront costs of buying property?
Stamp duty
Stamp duty (also called transfer duty in some states) is a government tax on property purchases. It is calculated as a percentage of the purchase price and varies significantly between states and territories. It is one of the largest upfront costs and needs to be paid from your own funds, not added to your loan. Many states offer concessions or full exemptions for eligible first home buyers, and new builds are often treated differently to established homes.
Legal and conveyancing fees
You will need a conveyancer or solicitor to handle the legal transfer of the property. Their fees cover reviewing the contract, conducting searches (for outstanding rates, easements, or building approvals), preparing transfer documents, and managing the settlement process. Costs vary between providers and states.
Building and pest inspection
A building inspection assesses the structural condition of the property. A pest inspection checks for termites and other damage. Both are highly recommended before you exchange contracts. The cost varies based on the property size and location. Skipping these inspections to save money at the start can be very expensive if issues are discovered later.
Lenders Mortgage Insurance (LMI)
If your deposit is less than 20% of the purchase price, most lenders will charge LMI. It is a one-off premium that protects the lender (not you) if you default. It can be paid upfront or added to your loan. Government schemes can help eligible buyers avoid LMI entirely.
Loan application and establishment fees
Some lenders charge upfront fees to set up your loan. These can include an application fee, a valuation fee (the lender's own assessment of the property value), and a settlement fee. Not all lenders charge all of these, and comparing lenders involves factoring in fees as well as rates.
Moving costs
Removalists, packing supplies, connection fees for utilities, and any immediate repairs or purchases for the new property. Easy to underestimate but worth budgeting for.
Council and water rates buffer
At settlement, rates are often adjusted between buyer and seller based on the settlement date. You may need to reimburse the seller for prepaid rates. Budget a small amount for this.
Body corporate or strata fees (apartments and townhouses)
If you are buying in a strata scheme, body corporate fees apply from the date you take ownership. These cover shared building maintenance, insurance, and facilities. Amounts vary significantly between buildings and are worth checking before you buy.
A buffer for the unexpected
No matter how well you plan, there are almost always costs that were not on the list. A buffer of a few thousand dollars over and above your estimated total gives you breathing room.
How to make sure upfront costs do not catch you out?
• Do not confuse your deposit with your total funds needed. You need your deposit plus enough to cover all the additional costs above. Add at least 3 to 5% of the purchase price on top of your deposit as a rough guide for additional costs, though this varies by state and situation.
• Use this calculator alongside the Stamp Duty Calculator for a more detailed state-specific stamp duty estimate.
• Get a conveyancing quote early in your search so you know the legal cost before you have a property in mind.
• Check your eligibility for first home buyer grants and concessions before assuming you will pay full stamp duty.
• Ask your broker to confirm which lender fees apply to your chosen loan before settlement so there are no surprises.
• If buying in a strata building, get a copy of the strata report and check the body corporate levies and any upcoming special levies before you buy.
Property buying questions we get asked a lot:
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As a rough guide, many buyers budget an additional 3 to 5% of the purchase price for upfront costs on top of their deposit. The actual figure depends on your state, the purchase price, whether you qualify for first home buyer concessions, and whether LMI applies. This calculator gives you a more precise estimate for your situation.
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Generally no. Stamp duty, legal fees, and most upfront costs need to be paid from your own funds at or before settlement. LMI is an exception and can usually be capitalised (added to your loan balance), though this increases the amount you borrow and the total interest you pay.
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It depends on your state and the purchase price. Most Australian states offer first home buyers either a full exemption from stamp duty or a concession that reduces it, up to a certain purchase price threshold. The thresholds and conditions vary by state. Use our Stamp Duty Calculator to estimate what applies in your state, and we will confirm the details throughout the process for your specific situation.
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Most upfront costs are due at or around settlement. Stamp duty is payable by settlement day in most states. Legal fees are usually invoiced around settlement. Building and pest inspections are typically paid when booked, before you exchange contracts. Loan fees are often deducted by the lender at settlement or added to your loan. Your conveyancer will give you a full settlement statement in advance showing exactly what is due and when.
Know your number. Then let us help you build your plan.
A buying cost estimate is a great starting point. A discovery call is where we will start to look at your full picture, map out exactly what you need, and show you the clearest path to your first home or investment property.