Calculator
What are the upfront costs?
Stamp duty, government fees and the other costs that sit between your deposit and settlement day — estimated in one place.
Stamp duty, government fees and the other costs that sit between your deposit and settlement day — estimated in one place.
Enter the purchase price and your state to estimate stamp duty and the government charges that go with a property purchase.
This calculator provides an estimate only. Duty rates, thresholds and concessions are set by each state or territory and change from time to time. For Victorian purchases, confirm current rates and eligibility with the State Revenue Office of Victoria, and confirm figures with your conveyancer or solicitor before committing to a purchase.
We’ll map out the full cost of your purchase, including any concessions or schemes you may be eligible for.
Land transfer duty in Victoria is calculated on a sliding scale against the dutiable value of the property, so it rises faster than the price does. Concessions and exemptions exist for eligible first home buyers, for principal place of residence purchases and for some off-the-plan contracts — each with its own thresholds and conditions. Because the thresholds are periodically revised, check the current position with the State Revenue Office rather than relying on figures quoted in older articles.
LMI protects the lender, not you, and is generally payable when you borrow more than 80% of the property value. It can run to tens of thousands of dollars and is usually capitalised onto the loan. It can sometimes be avoided through a family guarantee, an eligible government guarantee scheme, or a profession-based waiver — several lenders waive LMI entirely for certain occupations.
You will need a conveyancer or solicitor to handle the contract and settlement, plus title and council searches. Building and pest inspections, and an owners corporation records search for apartments, are separate again. Individually modest, collectively worth budgeting for.
Council rates and owners corporation fees are adjusted at settlement, so you reimburse the seller for the portion of the period you will own the property. Then there is building insurance, which most lenders require in place before settlement, plus moving costs and any immediate works. First home buyers are the most likely to be caught short here.
A common mistake is calculating the deposit and duty to the dollar, leaving nothing spare. Lenders look more favourably on applicants with genuine savings remaining after settlement, and it protects you if a valuation comes in low and the shortfall has to be covered in cash.
Eligible first home buyers may receive a full exemption below one dutiable value threshold and a partial concession within a band above it, provided the property becomes their principal place of residence for a required period. The thresholds and conditions are set by the State Revenue Office and are revised from time to time, so confirm the current figures with the SRO or with us before budgeting.
Lenders mortgage insurance is a one-off premium charged when your deposit is below 20%. It insures the lender against loss, not you. It can potentially be avoided with a larger deposit, a family guarantee, an eligible government guarantee scheme, or a lender waiver available to some professions. Which of these applies is worth checking early — it can change the whole purchase plan.
As a rough planning figure, many Melbourne buyers allow around 5% of the purchase price for duty and associated costs, though this varies considerably with price, buyer type and whether a concession applies. Use the calculator for an estimate, then confirm with your conveyancer.
Federal and state support for first home buyers exists but the schemes, caps and eligibility rules change regularly. Rather than quote figures that may date, we check what you currently qualify for as part of an initial conversation. See our first home buyers page for an overview.
Generally no for stamp duty and purchase costs — lenders expect those to be paid from your own funds, and they are part of what determines the deposit you actually need. LMI is the main exception and is commonly capitalised onto the loan amount.
An indicative borrowing capacity, plus what lenders actually assess behind the number.
CalculatorWhat your repayments would be, and how much extra repayments could take off the term.
First home buyersDeposit, schemes and getting to approval — what the process actually looks like.