Most people save hard for a deposit…
But forget about the hidden costs that come after.
If you’re buying a home in Australia, here’s what else you’ll need to budget for (besides your deposit):
Common Hidden Costs When Buying Property in Australia
- Stamp Duty – This government tax can be tens of thousands, depending on the state and purchase price. No one escapes it.
- Conveyancing/Legal Fees – You’ll need a solicitor or conveyancer to handle the paperwork.
- Lender & Application Fees – Banks charge fees to assess and process your loan.
- Building & Pest Inspection – Critical if you’re buying an older home. Don’t skip it.
- LMI (Lenders Mortgage Insurance) – If your LVR is over 80%, this can cost $10K–$30K extra.
=> Total Extra Costs = Roughly 5–7% of Property Price
So if you’re buying a $700,000 home, you may need $35,000–$49,000 extra on top of your deposit.
Want to know exactly how much you’ll need — and how to structure your loan to minimise these costs?
Contact us for a FREE Property Buying Cost Breakdown
Steven Widiarto – Finance Specialist, 25+ Years of Experience
Call/WhatsApp: +84 96 275 92 07
Email: support@sw-globalfinance.com.au