First Home Buyer Cash-to-Complete: The Costs Beyond Your Deposit
Your deposit is only one part of the money needed to buy. Here is how to think about stamp duty, legal fees, inspections, loan costs, and moving buffer.
Schemes to check before calculating cash-to-complete
- NSW First Home Buyers Assistance Scheme: check purchase price, prior ownership, residency, citizenship or permanent residency, and residence requirements.
- Australian Government 5% Deposit Scheme: check buyer status, owner-occupier intent, deposit size, property price cap, and participating lender requirements.
- First Home Owner Grant for new homes: check whether the property is newly built, substantially renovated, or off the plan, and whether the value is within the grant threshold.
- Lender-specific first home buyer policies: some lenders treat genuine savings, rent history, family guarantees, and gifted deposits differently.
Deposit is not the full cash number
Many first home buyers start with the deposit target, then discover extra costs late in the process. A better approach is to calculate cash-to-complete: deposit, transfer duty if payable, conveyancing, inspections, lender fees, moving costs, and a post-settlement buffer.
Why stamp duty changes the plan
If you qualify for a NSW first home buyer exemption or concession, your upfront cash requirement may be materially lower. If you do not qualify, you need to account for transfer duty before you make an offer.
Do not spend your final dollar at settlement
Once you own the property, council rates, strata, insurance, repairs, utilities, and furniture can arrive quickly. Keeping a buffer is not conservative for the sake of it; it protects the loan from turning stressful straight away.
A simple next step
Before looking seriously, ask for a cash-to-complete estimate across two or three purchase prices. That gives you a practical price range instead of a single optimistic borrowing figure.
Key points
- Your buying budget should include more than the deposit.
- Stamp duty treatment can change your cash required at settlement by a large amount.
- A buffer after settlement matters because ownership costs start immediately.
Sources
General information only. This content is educational and does not constitute personal credit, legal, tax, or financial advice. Policy details were last checked on 4 May 2026 unless a state or territory tab says otherwise.
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