The purchase price is just the beginning. Stamp duty, legal fees, inspections, and lender costs can add $30,000+ to your property purchase.

It's Not Just the Purchase Price

Buying a $700,000 property in Queensland? Budget for roughly $730,000 once you factor in the extras. Here's where that additional $30,000 goes.

Stamp Duty

The biggest extra cost. Calculated as a percentage of the purchase price, varying by state and whether it's your first home, a home you'll live in, or an investment. In Queensland, stamp duty on a $700,000 investment is around $24,525. Some states are introducing annual land tax as an alternative to this lump sum.

Conveyancing

A conveyancing solicitor manages the legal transfer of ownership. They review the contract, run property searches, represent you at settlement, and ensure the title transfers correctly. Expect to pay $1,500–$2,000.

Pest and Building Inspection

Between $500 and $1,000 — and easily the best investment you can make. A good inspector finds the issues the real estate agent didn't mention and can save your backside if you need to make an insurance claim later.

Lender Fees

Application fees, valuation fees, settlement fees, title search fees — these come off the loan amount at settlement and can add up to $500–$1,000 or more.

Land Transfer and Mortgage Registration

Government fees for updating the ownership register and registering the bank's mortgage. A few hundred dollars each, but they add up.

For Investors: Borrow the Costs

The costs themselves may not be directly tax deductible, but the interest on the loan used to pay them is. Many investors borrow 100% of the purchase price plus associated costs, keeping their cash free to offset against their home loan. Talk to your broker about how to structure this properly.