First Home Buyer Cost Calculator
Calculate the total upfront costs of buying your first home in Australia, including deposit, stamp duty, and LMI.
Deposits below 20% typically require LMI
How It Works
The calculator adds up all upfront costs: deposit amount (based on your percentage), stamp duty (using the selected state's rates with FHB concessions), LMI estimate (if LVR > 80%), conveyancing fees, inspection costs, and miscellaneous charges. It subtracts any applicable First Home Owner Grant to show your total cash needed at settlement.
Frequently Asked Questions
What upfront costs do first home buyers face in Australia?
Key costs include: deposit (5-20%), stamp duty (varies by state, often reduced for FHBs), Lenders Mortgage Insurance (if deposit < 20%), conveyancing ($1,500-$3,000), building and pest inspections ($500-$1,000), loan application fees ($0-$600), title search ($20-$100), and moving costs ($500-$2,000).
Can I buy a home with less than 20% deposit?
Yes. Many lenders accept 5-10% deposits, but you'll pay Lenders Mortgage Insurance (LMI) which can be $5,000-$30,000+. The government's Home Guarantee Scheme allows eligible buyers to purchase with as little as 5% deposit without paying LMI.
What government grants are available for first home buyers?
Grants vary by state: QLD offers $30,000 FHOG for new homes up to $750,000. NSW offers $10,000 for new homes up to $600,000. VIC offers $10,000 for new homes up to $750,000. All states offer stamp duty concessions. The federal Home Guarantee Scheme covers LMI for eligible buyers.
What is the First Home Super Saver Scheme?
The FHSSS lets you withdraw voluntary super contributions (up to $50,000) to use as a home deposit. You save on tax because salary-sacrificed contributions are taxed at 15% instead of your marginal rate. You apply through the ATO when ready to purchase.
Related Calculators
Stamp Duty Calculator — All States
Compare stamp duty across all Australian states and territories on one page.
LMI Calculator
Estimate your Lenders Mortgage Insurance premium based on property value and loan-to-value ratio.
LVR Calculator
Calculate your Loan-to-Value Ratio and whether you'll need Lenders Mortgage Insurance.
Borrowing Power Calculator
Estimate how much you can borrow for a home loan based on your income, expenses, and existing debts.