The deposit gets all the attention, but it’s only part of the cash you need to buy a home. Buyers who budget for the purchase price alone routinely find themselves $30,000–$60,000 short at settlement. Here’s the full list.
Government charges
- Stamp duty: the big one. On a $900,000 home in NSW it’s roughly $35,000 for a non-first-home-buyer. Estimate yours with the stamp duty calculator.
- Transfer and mortgage registration fees: a few hundred dollars, payable at settlement.
Lender and loan costs
- Lenders mortgage insurance: if your deposit is under 20% and no waiver applies, LMI can run from a few thousand to $30,000+. See our LMI guide.
- Application and valuation fees: $0–$800 depending on lender; often waived.
Due diligence and legals
- Conveyancing: $1,500–$3,000 for contract review, searches and settlement.
- Building and pest inspection: $400–$800, and worth every cent.
- Strata report: $250–$400 for apartments; it’s where the special levies hide.
Moving-in costs people forget
- Home and contents insurance, required from exchange in some states, not settlement.
- Council and water rate adjustments at settlement.
- Removalists, utility connections, immediate repairs, window coverings.
Budget it properly
Add roughly 5–6% of the purchase price on top of your deposit for a realistic all-in number, less if you’re an exempt first home buyer.
Plan your savings target →The good news
First home buyers escape much of this list: stamp duty exemptions, grants and no-LMI schemes can remove the two biggest line items. See what you can claim, or get Nathan to run your exact numbers before you start making offers.