Home buying costs checklist

The first two things most home buyers think about when planning a property purchase is saving for a deposit and shopping around for the most suitable home loan. And while these two financial processes are the cornerstone of buying a home, other associated costs should be factored in to avoid financial stress.

Stamp duty is one of the largest one-off payments home buyers will need to make. There are also government and lender fees; legal and conveyancing costs; and the costs of building inspections. Feel confident about your property purchase with our Guide to Hidden Home Buying Costs.

• Know the real costs of buying a home: A comprehensive overview of your pre-purchase, transaction and post-purchase home-buying costs.
• Prepare for stamp duty fees: Each state and territory charges different rates of stamp duty and offers a range of concessions. Review your local transfer duty. Try our stamp duty calculator.
• Don’t get caught out by mortgage and lender fees: Factor in establishment and service fees and be aware of early repayment costs.
• Understand the legal and conveyancing costs of a purchase: The method of sale will significantly impact the timing of a purchase’s legal obligations.
• Get value for money when it comes to building inspections: Obtaining a comprehensive building inspection by a certified inspector can save you considerable money in the long run.