Cost of buying a property calculator

Know exactly how much buying a property will cost so you can budget accurately and save more.

Buying a home in most instances requires getting a home loan. While you might not have trouble getting a home loan, or savings up the deposit, there are a host of others costs linked with buying a home. Taking all associated costs into account when buying a home is crucial. This allows you to construct an accurate budget and avoid nasty surprises hitting your wallet further on down the track.

Before you even apply for a loan, finding out how much you have to spend to buy any given property is important. This is because a hidden cost arising close to when you’re about to sign along the dotted line could have you scampering for extra funds at the last moment. For example, stamp duty costs vary from state to state and can amount to a considerable sum. You might also have to pay land registration fees, if applicable and this, again, differs from one state to the next. Other additional costs can come in the form of lenders' mortgage insurance, application fees and legal costs.

Property buying cost calculator

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How to use the property buying costs calculator?

To use the property buying costs calculator you have to gather all the required information first. Once you have all the information at hand, simply enter it in the given fields and find out what your dream home actually costs.

  • Government charges. These include the stamp duty upon registration, the fee you have to pay to get your mortgage registered and any applicable transfer fee.
  • Lender fees. When you apply for a loan, most lenders require you to pay an application fee and this varies from lender to lender, as well as from loan to loan. Banks can also charge legal fees for services rendered by their legal department in preparing relevant documentation. If you plan to borrow more than 80 percent of the property’s value, you’ll also have to pay for lenders mortgage insurance (LMI) which can add thousands to your total cost.
  • Other costs. Even before you buy the home expect to pay for building inspections and pest inspections. Moving into your home also comes with moving expenses and you also have to pay for utility connections before you move in. Insuring your new home as well as its contents calls for additional expenses. In addition, you might have to hire a solicitor to help you through the process.

Steve's property purchase


Steve wanted to get a home loan for $400,000 and figured he could start off by arranging five percent of that, $20,000. When he got in touch with his bank he found out that if he was paying as little as five percent of the property’s value on his own, he’d have to get lenders’ mortgage insurance and over the course of the loan, this would cost him around $12,500. In addition, he’d also have to come with up with more than $13,000 to take care of stamp duty surrounding the purchase. After taking relevant costs into account, Steve found out he had to pay close to $30,000 in the form of fees to his lender and to the government.

He went on to add other associated costs, like $3,000 for conveyance; $500 for building and pest inspections; $300 for mortgage registration and transfer; bank valuation fee of $250; $1,000 for moving; and then some. The final figure he came up with, all costs included, exceeded the $50,000 mark.

One cost he could do something about was the lenders mortgage insurance, but this required that he pay at least 20% of the property’s value in the form of a deposit. Luckily, he had enough savings in his bank account, so that’s exactly what he did. At the end of it all, the total buying costs he bore stood at around $38,000.

Frequently asked questions about property buying costs

Do I have to pay ongoing fees when I get a loan?

While some home loans attract monthly or annual account keeping fees, not all do. If you have to pay a seemingly insignificant $10 monthly fee over a course of 30 years, you end up paying $3,600 in all.

Why do I have to pay for lenders mortgage insurance?

Lenders require borrowers to pay for lenders mortgage insurance if they wish to borrow in excess of 80% of the property’s value. This is essentially to safeguard the interest of lenders.

Why do I have to pay for property inspections?

While a property inspection is a requirement, it also safeguards your interests. An inspection establishes if the house in question is structurally sound and free of pests.

Given the additional costs associated with buying a home, make sure you account for each one before you apply for a home loan. Bear in mind that not lenders follow the same fee structure, so comparing them can lead to long term savings.

Marc Terrano

Marc Terrano is a Lead Publisher at finder. He's been writing and publishing personal finance content for over five years and loves to help Australians get a better deal.

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6 Responses

  1. Default Gravatar
    KushAugust 30, 2018

    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%?

    • finder Customer Care
      JoshuaAugust 30, 2018Staff

      Hi Kush,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      I can’t give you a straightforward to your question since there are just too 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.

      Research is a key here. You may start reading about how much you are going to spend by reading our guide, “The hidden costs of buying a property.” Next is you need to speak to a professional mortgage broker to get a more personalised answer and discuss your different options. Here’s our list of mortgage brokers. Check it out.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  2. Default Gravatar
    AnneAugust 29, 2018

    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

    • finder Customer Care
      JoshuaAugust 29, 2018Staff

      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, “The ultimate Australian home buying guide.”

      Moreover, it would also be a good idea to speak to a real estate agent. On this page, you will learn more about how a real estate agent can help you and how to find one.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  3. Default Gravatar
    NatalieAugust 18, 2017

    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

    • Default Gravatar
      ArnoldAugust 18, 2017

      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.


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