The Real Costs of Buying Your First Home in Sydney

The deposit is the headline, but it is not the whole bill. Here is what a Sydney first home purchase actually costs, and where eligible buyers catch a break.

Stamp duty, often $0

Eligible NSW first home buyers pay nothing up to $800,000 and a concession to $1 million. Above that, duty is the biggest cost after the deposit. Get your figure from the stamp duty calculator.

The professional fees

Conveyancing typically runs $1,500 to $3,000. A building and pest inspection, or a strata report for an apartment, a few hundred dollars each, and worth every cent. Lender fees vary from $0 to around $800 depending on the loan.

The forgotten line items

Moving costs, immediate repairs, connection fees, and a buffer for the first quarter’s council and water rates. We suggest keeping a few thousand dollars aside after settlement rather than emptying every account at exchange.

Budget it properly

The Can I afford this property? calculator adds deposit, duty and costs at any price. For your full position, talk to Charles.

General information only, not credit, legal or tax advice. Your situation is assessed properly before any recommendation. Government scheme details change; figures are current at the time of writing.