In an ideal world, the advertised price of a property is all that you'd pay. But when it comes time to settle, you may be surprised by what else you have to pay for.
Many of these extra fees are calculated based on the sale price, so use the free calculator above to get an estimate of what your overall cost will be. Stamp duty is the biggest fee you'll pay, although there are exceptions for first-time buyers on properties up to the value of $1 million.
Other costs included in buying a house include a mortgage registration fee, a transfer fee, a bank fee and a title search fee. Generally, these will combine to be no more than three figures.
Depending how much of a deposit you've been able to save up, you may have to pay Lender's Mortgage Insurance (LMI) as well. This protects the bank should you not be able to repay your mortgage down the line. While stamp duty is an upfront cost, LMI is added into the repayments for your mortgage.
Other costs you may incur with buying and selling a property include conveyancers, pest and building inspections, removalists and insurance.
Get a more detailed understanding of your expenses when buying a house with our free calculators. Check out theloan repayment calculator and other options from the drop down menu.
Wisebuy Investment Group Pty Ltd T/A Wisebuy Home Loans ABN 67 607 570 169 is authorised under Australian Finance Group Ltd Australian Credit Licence 389087
The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.
