Costs of buying a house or unit
Your guide to the costs and fees associated with buying a house or unit, plus a budgeting spreadsheet to help you calculate them.
Key takeaways
- The costs involved in buying a house go well beyond saving up the gigantic deposit.
- There's stamp duty, loan fees, your conveyancer's fee, inspections and insurance. It all adds up.
- Using an upfront cost calculator or spreadsheet is a great idea to help you prepare for (and keep track of) all these costs.
How to estimate your property buying costs
Here's a simple breakdown of the main property buying costs most people face.
- The deposit. Saving up the deposit is the biggest cost most buyers face.
- Stamp duty. Many first home buyers qualify for discounts or exemptions, but it's a big tax that usually costs tens of thousands of dollars.
- Government charges. You'll also have to pay a mortgage registration fee.
- Loan fees. Most home loans charge some kind of application, settlement or establishment fee (though many don't).
- Lenders mortgage insurance (potentially). You only pay this if your deposit is below 20% of your property's value.
- Conveyancer. You need a legal expert to review your contract and represent you at settlement.
- Inspections. It's a good idea to pay for a professional building and pest inspection.
- Moving costs. Don't forget the removalist costs.
- Home insurance. You'll need a home insurance policy before settlement (unless you're buying a strata property, where your whole complex has a strata insurance policy).
Example: breaking down the home buying costs
Here's a simple example of what buying a property could cost you. Keep in mind that these are just example figures, not a representation of anyone's actual costs.
Property costs
You buy a property for $600,000. This means your property value is $600,000, which you can divide into the deposit and loan amount.
- Deposit: $60,000
- Loan amount: $540,000
In this scenario, with a 10% deposit you also have to pay lenders mortgage insurance (LMI).
Government charges
- Stamp duty: $20,000
- Mortgage registration fee: $150
- Transfer fee: $300
Lender fees and charges
- Loan application fees: $600
- Legal fees: $330
- Lenders mortgage insurance: $11,700
Other buying costs
- Conveyancing: $1,000
- Pest and building inspection: $500
- Moving costs: $1,000
- Settlement adjustments*: $700
Total property buying cost estimate (excluding deposit) = $36,280
*Settlement adjustments refers to your share of council rates, water rates and strata fees for the current quarter. If you are taking ownership of the property in the middle of a quarter and these costs have already been paid by the previous owner, you'll have to pay an adjusted share of the costs based on settlement day.
Download our property buying cost calculator spreadsheet
Estimate your costs with one of Finder's property calculators
What are the upfront fees and costs of buying a house?
Beyond the cost of your deposit and home loan, there are a number of costs associated with buying a home. To get a true idea of how much your property purchase will cost, you'll need to add these up:
Government charges
- Stamp duty. Stamp duty varies from state to state, and most states offer exemptions and concessions for first home buyers.
- Title transfer fees. This fee also varies from state to state, so check the current fee with your state's land titles office.
- Registration fees. This fee registers your property as the physical security for your home loan. The fee is set by each state and territory, so it varies depending on where you buy.
You can use our free stamp duty calculator to estimate how much you're likely to pay in stamp duty, title transfer and registration fees.
Fees and other upfront costs
- Lender fees. Lenders also have their own fees, which might include application, legal and settlement fees. Mortgage fees can cost several hundred dollars, so make sure you check the fees when you're comparing mortgages. If you plan to borrow more than 80% of the property’s value, you’ll also have to pay for lenders mortgage insurance which can add thousands to your total cost.
- Inspection fees. Before signing a contract for a home, it's wise to have building and pest inspections carried out. This will ensure the home you're buying is structurally sound and free from damaging pests. The cost varies with the size, age and location of the property, so it's worth getting a few quotes.
- Moving costs. Unless you have a large vehicle and some very understanding friends, you'll likely have to pay a removalist service to help you move home. Depending upon the size of your move, a removalist can cost anywhere from a few hundred to a few thousand dollars.
The surprise costs of buying a home
2 in 5 Australian first home buyers say they had to pay for unexpected costs when buying a house. These costs add up to $5,290 on average. And that's on top of the costs buyers plan for. 1 in 3 Australians end up with less than $10,000 in the bank in the 12 months after buying a house.
How much does it cost to buy a home in Australia?
The national median dwelling value in Australia was $899,236 at the end of September 2026, according to the Cotality Home Value Index. However, prices vary widely between different states, and also between cities and country areas.
| City | Median Value |
|---|---|
| Sydney | $1,198,596 |
| Melbourne | $780,550 |
| Brisbane | $1,048,880 |
| Adelaide | $928,560 |
| Perth | $975,022 |
| Hobart | $741,496 |
| Darwin | $633,431 |
| Canberra | $861,744 |
| Combined capitals | $973,525 |
| Combined regional | $758,931 |
| National | $899,236 |
Source: Cotality Home Value Index, median dwelling values as at 30 September 2026
Don't forget about the ongoing costs of buying a property
We've listed the main upfront costs, but there are also ongoing costs that come with owning a home. We might not consider some of these to be upfront costs, because you have to pay them regularly. But some of these costs are payable shortly after you take possession of your home, if not before. So you need to factor them in.
- Home and contents insurance. Lenders expect you to have a home insurance policy in place before settlement. You can usually pay this in instalments or upfront.
- Strata fees. If you're buying a unit or townhouse that is part of a complex, you'll probably be on a strata title. This means paying strata or body corporate fees. These fees are typically charged quarterly, and cost you several thousand dollars a year.
- Council rates. You pay a tax to your local council every quarter, which can run to around $2,000 a year.
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Hi, I wish to purchase or build our first home for around 700k. Could you please help me to calculate the total cost (stamps, gov fee and all) if the deposit is 5% and 10%?
Thanks
Hi Kush,
Thanks for getting in touch with Finder. I hope all is well with you. :)
There are many things that need to be addressed when buying or building a house. There are also other factors that may affect your stamp duties, government fees, and other costs.
To help you, first you need to know the cost of buying a property. Next is to speak to a professional mortgage broker to get a more personalised answer and discuss your different options.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
Hi, My husband has recently passed away, I am looking at down sizing as I will not be able to manage the house on my own. I would like to build a house with a granny flat and my son & daughter-in-law would rent the house to provide me with income. I am 63 and on a disability pension. I own the house I live in and would be able to own the new property outright, I am needing help in knowing the right way to go about this next stage in my life. Thank you for your time, Anne
Hi Ann,
Thanks for getting in touch with Finder. Sorry to hear about your husband passing away. I hope all is well with you today.
Regarding your question, there are different steps to buying a house and there are various considerations as well. For this reason, it would be a good idea to review our guide about home buying.
Moreover, it would also be a good idea to speak to a real estate agent.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
Hi
I am buying a house for $30000 in a small rural town in Qld and I want to know how much my settlement and stamp duty are going to be so I can factor them into my budget
Please answer asap
Hi Natalie,
Thanks for your inquiry.
Based on our stamp duty calculators you will pay the following fees:
Stamp duty on property $75.00
Transfer fee $162.90
Mortgage registration fee $168.60
Total fees $406.50
Hope this information helped.
Cheers,
Arnold