How much should I budget for settlement costs?

A safe rule of thumb is 5% of the purchase price. On a $700K property, budget $35K for settlement costs (stamp duty, legal, inspections, government fees). First home buyers may need less if stamp duty is exempted or reduced.

What happens if I don't have enough money at settlement?

If you're short on settlement day, you risk defaulting on the contract. The vendor can terminate the contract and keep your deposit (typically 10%). You may also be liable for the vendor's losses. Always confirm your settlement figures with your conveyancer at least 1 week before settlement.

Property Settlement Cost Calculator

Calculator

Calculate all the costs involved in settling a property purchase in Australia. Covers stamp duty, conveyancing, inspections, and hidden fees.

Free to useNo data storedAI insightsUpdated: February 2026

The purchase price is just the start — buying property in Australia comes with $20,000-$60,000+ in additional costs that many buyers don't budget for. Stamp duty is the biggest (typically $15,000-$40,000), but conveyancing, inspections, mortgage registration, title transfer, loan fees, and insurance all add up. Missing one of these costs means you'll be short at settlement — and that can mean losing the property or scrambling for a bridging loan. This calculator gives you the complete picture so there are no surprises.

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Real-World Examples

First Home Buyer — Melbourne, $650K

Buying a $650,000 established apartment in VIC as a first home buyer. Loan: $520K (80% LVR).

Stamp duty: $0 (FHB exemption for properties ≤$600K) or ~$8,370 (partial concession $600K-$750K). Conveyancing: ~$1,500. Strata report: $350. Building inspection: $500. Mortgage registration: $150. Title transfer: $450. Lender fees: ~$400. Total settlement costs: ~$11,720. FHOG: $10,000 rebate (if new). Net costs: ~$1,720 if FHOG eligible.

Frequently Asked Questions

Glossary

Settlement

The formal process of transferring property ownership from seller to buyer. Legal documents are exchanged, funds are transferred, and the title is registered in the buyer's name.

Conveyancing

The legal process of preparing and processing documents for property transfer. Handled by a conveyancer or solicitor.

Adjustments

Pro-rata calculations at settlement for prepaid expenses like council rates, water rates, and body corporate — the buyer reimburses the seller for the period after settlement.

Related Tools

Stamp Duty Comparison

Compare stamp duty across states before buying.

Borrowing Power Calculator

Factor settlement costs into your borrowing plan.

LMI Calculator

Check if you need Lenders Mortgage Insurance.

How to Use

1Enter the purchase price.
2Select your state for accurate stamp duty and fee calculations.
3Choose your buyer type for applicable concessions.
4Select the property type.
5Add your loan amount to calculate mortgage-related fees.
6See a complete settlement cost breakdown with every fee itemised.

Key Information

Total settlement costs typically range from 4-6% of the purchase price for most buyers.
Stamp duty is the single largest cost — ranges from $0 (FHB concessions) to $40,000+ depending on state and price.
Conveyancing/solicitor fees: $1,200-$3,000 depending on complexity.
Building & pest inspection: $400-$800 for houses. Strata report: $250-$400 for units.
Mortgage registration: $150-$350. Title transfer fee: $150-$500 (varies by state).

Pro Tips

Budget 5% of the purchase price for settlement costs ON TOP of your deposit — this is the safe rule of thumb.
Ask your conveyancer for a complete cost estimate upfront — good conveyancers provide a settlement statement before settlement day.
For apartments, ALWAYS get a strata report — it reveals special levies, building defects, and financial health that can cost you thousands.
First home buyers: check if your state offers digital conveyancing discounts or government-provided conveyancing panels.

Avoid These Mistakes

Not budgeting for stamp duty — this catches first-time buyers most often and can derail the entire purchase.
Forgetting lender fees — application fees ($0-$600), valuation fees ($0-$400), and ongoing fees ($0-$400/year).
Skipping building inspection to save $500 — only to find $50,000 of defects after settlement.
Not adjusting council rates, water rates, and body corporate at settlement — your conveyancer should handle these but verify.

Disclaimer: This calculator provides estimates only and should not be relied upon for financial decisions. Interest rates, fees, and policies change frequently. Always verify information with lenders directly. This is general information, not personal financial advice. Consider seeking advice from a licensed mortgage broker or financial advisor.

Last updated: February 2026