The repayment is not the only cost. Put a monthly figure on everything else before you commit.
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Council rates, strata levies, building insurance, water and a maintenance allowance, which together often add several hundred dollars a month to the repayment.
Enter the price and your figures to see the monthly and yearly total; the maintenance allowance uses a rule of thumb of about 1 per cent of value a year for a house and less for a unit.
Part of the investment property loans guide.
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Book my free callAs a first home buyer, I was pretty overwhelmed at the start, but Charles made everything much easier. He explained the process step by step and helped me understand my borrowing options. His professionalism and responsiveness were excellent.
Had a really good experience with Charles at Links Property Finance. He was easy to deal with, always quick to respond and kept everything simple and clear throughout the whole process. You can tell he genuinely cares about getting the best outcome for his clients rather than just getting things done quickly. Really happy with the experience and would happily recommend Charles and Links Property Finance to anyone.
Charles is an absolute star at what he does. He was straight-up, highly professional, and worked hard to secure a fantastic rate for our home loan. Communication was prompt and clear the entire way through. I would trust him with any future financial needs
Charles Touma, Mortgage Broker.
Some lenders include an allowance for property running costs in serviceability, particularly strata levies, which is one of several reasons an apartment with high levies can reduce what you can borrow.
Where levies are unusually high, they are worth raising before an application rather than discovering their effect on the borrowing figure afterwards.
The mortgage repayment itself, which the repayments calculator covers, and the one-off costs of buying, which the cost of buying calculator covers.
Together the three give you the complete picture: what it costs to buy, what it costs to borrow, and what it costs to own.
Around one per cent of the property's value a year is the widely used allowance for a freestanding house, less for a strata property where the building is maintained through levies.
In some years you will spend nothing and in others a hot water system and a fence will arrive together, which is precisely why it is provisioned rather than budgeted exactly.
No, they are set by the owners corporation based on the building's budget. What you can do is read the levy history and the sinking fund position before you buy, because a building with an inadequate sinking fund is a building where a special levy is more likely.
They can. Some lenders include an allowance for property running costs, particularly strata levies, in their serviceability assessment. High levies on an apartment can therefore reduce your borrowing capacity as well as your monthly budget.
It generally does not apply to your own home in NSW, but it can apply to investment property above a threshold. It is a state tax with its own rules and thresholds, and it is a question for your accountant rather than your broker.
Yes, realistically: the lender compares what you declare against your bank statements and forms its own view, and a repayment that only works if nothing ever breaks is not one that works.
Charles can put the running costs beside your borrowing figure so the budget is the real one.
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Estimates only, not credit or financial advice. This tool uses general assumptions and cannot see your credit file, verify your income or apply any particular lender's policy. Your position is confirmed in a full assessment.
Official sources for the figures on this page: Revenue NSW, transfer duty. Scheme rules change; the official pages are the final word. Checked against these sources on 12 October 2026.
