Buying Costs Beyond the Deposit Australia | Full Cost Guide

By AusTaxTools Editorial Team ·

Short answer

Beyond the deposit, Australian property buyers face stamp duty, Lenders Mortgage Insurance (if under 20% deposit), conveyancing fees, building and pest inspections, loan fees, and moving costs. On a $700k purchase these extras can total $20k–$50k. Budget for all of them before making an offer.

Stamp duty

Usually the largest single cost after the deposit. Rates vary by state, property value, and buyer status. First home buyers may qualify for concessions — but only below state-specific price thresholds.

Lenders Mortgage Insurance

Required when your deposit is below 20% of the property value. LMI protects the lender, not you, and costs $10k–$40k depending on loan size. It can be paid upfront or capitalised into the loan.

Legal and inspection costs

Conveyancing ($1k–$3k), building and pest inspection ($400–$800), strata report if applicable, and title search fees. Small individually, but they compound — especially if you inspect multiple properties before buying.

Common mistakes

  • Budgeting only for the deposit and being surprised by $30k+ in stamp duty and fees at settlement.
  • Not realising LMI can be capitalised into the loan — avoiding the upfront hit but increasing total interest paid.
  • Skipping building inspections to save $500 and discovering $20k of structural issues after purchase.
  • Forgetting ongoing costs that start immediately — council rates, strata fees, insurance, and connection fees.

Buying costs calculator

See every upfront cost — stamp duty, LMI, legal, and more — for your specific purchase scenario.

First home buyer calculator

Factor in FHOG, stamp duty concessions, and deposit requirements together.

Check borrowing power

Make sure your borrowing capacity covers the purchase price plus all upfront costs.

First home buyer guide

Government grants and concessions that can reduce your upfront cost burden.

Loan fees explained

Application, valuation, and settlement fees that add to your buying costs.

Budget the full picture

The deposit gets you in the door. The other costs determine whether you can afford to stay.

Model every upfront cost before making an offer — surprises at settlement are expensive.

Open buying costs calculator

Related Guides

First Home Buyer Guide

Government grants, stamp duty concessions, and the costs most first buyers miss.

Refinancing Guide

When switching loans saves money and when break costs eat the benefit.

Borrowing Power

How lenders calculate what you can borrow — income, expenses, and buffers.

Frequently Asked Questions

What are the main buying costs beyond the deposit in Australia?
Stamp duty is usually the largest, followed by Lenders Mortgage Insurance if your deposit is below 20%. Conveyancing, building and pest inspections, loan application fees, and moving costs add up quickly.
How much is stamp duty in Australia?
Stamp duty varies by state and property value. On a $700k property it ranges from around $13k to $28k depending on the state. First home buyers may qualify for concessions or exemptions.
What is Lenders Mortgage Insurance and can I avoid it?
LMI protects the lender if you default and is required when your deposit is below 20%. It can cost $10k to $40k depending on the loan size. The only way to avoid it is a 20% deposit, a guarantor, or specific government schemes.