It’s one of the most common mistakes buyers make — focusing only on the deposit and forgetting the rest. But when you’re purchasing a home, there are a number of extra costs to budget for, and they can easily add up to tens of thousands. In this guide, Gold Coast Real Estate Agents break down all the hidden and not-so-hidden costs of buying a property in Queensland, with links to our free tools like the Buying & Selling Costs Calculator, Stamp Duty Calculator, and Mortgage Repayment Calculator. If you’ve been Googling real estate agents near me or want to be financially prepared to buy, this is your checklist
What Are the Hidden Costs When Buying a Property?
It’s more than just a deposit — here’s what buyers really need to budget for.
🏛️ 1. Stamp Duty (Transfer Duty)
Stamp duty is one of the largest upfront costs — and often overlooked by first-home buyers.
In Queensland, the amount depends on:
- The property price
- Whether you’re a first-home buyer or investor
- Whether you’ll live in the property or rent it out
Use our Stamp Duty Calculator to see how much you’ll need to set aside.
Queensland Stamp Duty Calculator | Property Duty Estimator
📌 Example: On a $700,000 property (not first home), stamp duty may exceed $17,000.
🧾 2. Legal & Conveyancing Fees
You’ll need a licensed solicitor or conveyancer to:
- Review the contract
- Handle property searches and settlement
- Communicate with the seller’s legal team
Average cost: $1,000–$2,500, depending on the firm and complexity of the transaction.
✅ Gold Coast Real Estate Agents can recommend experienced conveyancers who specialise in Queensland property law.
🕵️♂️ 3. Building & Pest Inspections
A professional inspection is strongly advised — even for brand-new homes. This helps you:
- Identify hidden damage or future repair risks
- Renegotiate or walk away if serious issues are uncovered
Expected cost: $400–$800
💰 4. Lenders Mortgage Insurance (LMI)
If your deposit is under 20%, you may have to pay LMI — a one-off insurance premium that protects the lender, not you.
LMI can cost $5,000–$20,000+, depending on the loan amount and deposit size.
✅ Speak with a broker or use our Buying & Selling Costs Calculator to estimate your LMI exposure.
🛠️ 5. Immediate Repairs, Cleaning & Moving
Once you move in, expect to spend money on:
- Removalists or van hire
- Lock replacements, minor repairs
- Paint, blinds, curtains, garden clean-up
Set aside $2,000–$5,000 depending on the condition of the home.
🏦 6. Loan Setup & Application Fees
Some lenders charge upfront fees to process your home loan. These may include:
- Application or establishment fees
- Valuation fees
- Settlement charges
These can add $600–$1,500, depending on the lender and product chosen.
✅ Use our Mortgage Repayment Calculator to forecast repayments and budget confidently.
Home Loan Repayment Calculator | View Mortgage Payments
🏢 7. Strata & Body Corporate Fees (If Applicable)
If you’re buying a townhouse or unit, you’ll also need to factor in:
- Ongoing body corporate levies
- Sinking fund contributions
- Special levies (for major works or upgrades)
✅ Always review the body corporate disclosure and recent AGM minutes before signing.
📅 8. Council & Utility Adjustments
At settlement, you may need to reimburse the seller for:
- Prepaid council rates or water charges
- Shared utility bills depending on the handover date
These costs are usually handled by your conveyancer — but plan for a few hundred dollars.
📞 Want to See the True Cost Before You Buy?
👉 Use our Buying & Selling Costs Calculator
👉 Estimate stamp duty here Queensland Stamp Duty Calculator | Property Duty Estimator
👉 Use the Mortgage Repayment Calculator Home Loan Repayment Calculator | View Mortgage Payments
And if you’re ready to take the next step…
👉 Book a consultation with Gold Coast Real Estate Agents Contact Gold Coast Real Estate Agents | Request an Appraisal
We’ll guide you through every cost, avoid surprises, and connect you with trusted local experts to help you buy confidently.