OneTaskBy Tim King · Updated
Property Buying Costs Calculator
Total Cash Needed to Buy a Home, From Deposit to Moving Day
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How the Property Buying Costs Calculator works
This property buying costs calculator adds up everything you pay on top of the deposit when you buy a home. Enter each cost you have been quoted, including any stamp duty or transfer tax from your government's own calculator, and it gives the total, the share of the price and the cash you need altogether.
Property buying costs calculator formula
Buying costs are paid from your own cash on top of the deposit:
Buying costs = transfer tax + legal + inspections + lender fees + registration + insurance + moving + other Cash needed = deposit + buying costs Loan = price − deposit
Transfer tax rules differ by country, state and buyer, and change often, so the calculator does not estimate it. Take the figure from your local government's official calculator and enter it here.
Worked example: with transfer tax
A 600,000 home with a 120,000 deposit, 20,000 of transfer tax, 1,800 legal, 600 inspections, 700 lender fees, 400 registration and 1,500 moving. Buying costs are 25,000, or 4.17% of the price. The cash needed is 145,000 and the loan is 480,000.
Worked example: no transfer tax payable
A 450,000 home with a 45,000 deposit where no transfer tax is payable. Legal 1,500, inspections 500, lender fees 600, registration 300 and moving 1,200 total 4,100, or 0.91% of the price. The cash needed is 49,100 and the loan is 405,000.
Property buying costs reference table
Buying costs at 2% and 5% of the price, and the cash needed with a 20% deposit.
| Price | 20% deposit | Costs at 2% | Cash needed at 2% | Costs at 5% | Cash needed at 5% |
|---|---|---|---|---|---|
| 300,000 | 60,000 | 6,000 | 66,000 | 15,000 | 75,000 |
| 350,000 | 70,000 | 7,000 | 77,000 | 17,500 | 87,500 |
| 400,000 | 80,000 | 8,000 | 88,000 | 20,000 | 100,000 |
| 450,000 | 90,000 | 9,000 | 99,000 | 22,500 | 112,500 |
| 500,000 | 100,000 | 10,000 | 110,000 | 25,000 | 125,000 |
| 550,000 | 110,000 | 11,000 | 121,000 | 27,500 | 137,500 |
| 600,000 | 120,000 | 12,000 | 132,000 | 30,000 | 150,000 |
| 650,000 | 130,000 | 13,000 | 143,000 | 32,500 | 162,500 |
| 700,000 | 140,000 | 14,000 | 154,000 | 35,000 | 175,000 |
| 750,000 | 150,000 | 15,000 | 165,000 | 37,500 | 187,500 |
| 800,000 | 160,000 | 16,000 | 176,000 | 40,000 | 200,000 |
| 850,000 | 170,000 | 17,000 | 187,000 | 42,500 | 212,500 |
| 900,000 | 180,000 | 18,000 | 198,000 | 45,000 | 225,000 |
| 950,000 | 190,000 | 19,000 | 209,000 | 47,500 | 237,500 |
| 1,000,000 | 200,000 | 20,000 | 220,000 | 50,000 | 250,000 |
| 1,050,000 | 210,000 | 21,000 | 231,000 | 52,500 | 262,500 |
| 1,100,000 | 220,000 | 22,000 | 242,000 | 55,000 | 275,000 |
| 1,150,000 | 230,000 | 23,000 | 253,000 | 57,500 | 287,500 |
| 1,200,000 | 240,000 | 24,000 | 264,000 | 60,000 | 300,000 |
| 1,250,000 | 250,000 | 25,000 | 275,000 | 62,500 | 312,500 |
Quick answers
- Buying costs are often 2% to 6% of the price.
- Transfer tax is usually the largest single cost.
- Mortgage insurance may be added to the loan instead of paid in cash.
- Budget for moving, connection and early repair costs too.
- Buying costs are not part of the deposit.
- Add buying costs to the deposit to know how many months of saving you really need.
FAQ
What costs are there when buying a house?
Transfer tax or stamp duty, legal or conveyancing fees, building and pest inspections, lender application and valuation fees, title registration, mortgage insurance where required, and moving. Some buyers also pay a buyer's agent or strata report fee.
Why does the calculator not work out stamp duty?
Rates, thresholds and concessions change and differ by location and buyer. The official calculator for your area gives the correct figure, which you can enter here.
Can buying costs be added to the loan?
Usually only mortgage insurance. Other costs are generally paid in cash at or before settlement. Budget for legal fees, inspections, lender fees and moving costs out of your own savings, on top of the deposit.
See also: all Property tools, Pay, Bills, Debt, Investing, Saving.
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