Property Buying Cost Calculator

When saving for a home, many buyers focus solely on the 10% or 20% deposit. However, the total cost of purchasing a property in Western Australia includes several expenses that you may not have considered, and these can add up to thousands of dollars.

At Westgate Home Loans, we believe in total transparency. Our calculator helps you estimate every fee from contract to keys, so there are no surprises on settlement day.

Breaking Down the Costs: What You Need to Know

Buying a property involves more than just the bank and the seller. Here are the primary costs our calculator accounts for:

1. Government Fees

• Transfer Duty (Stamp Duty): The largest upfront cost. This varies based on the purchase price and whether you are a first-home buyer.

• Mortgage Registration: A government fee to register the mortgage on the property title ($203.00 as of early 2026).

• Land Transfer Fee: The cost to legally transfer the title into your name.

2. Lenders Mortgage Insurance (LMI)

If your deposit is less than 20% of the property value, you will likely need to pay LMI. This protects the lender, not you.

Nb: Our Westgate brokers can often find products that allow you to capitalise the LMI (add it to your loan) so you don’t have to pay it upfront.

3. Professional & Inspection Fees

• Settlement Agent / Conveyancer: They handle the legal transfer of the property. Expect to pay between $1,500 – $2,500.

• Building & Pest Inspections: Essential for peace of mind. A combined report in Perth typically costs between $500 – $800.

• Loan Application Fees: Some lenders charge an upfront “establishment fee,” though many of our Westgate-exclusive deals waive this.

First Home Buyer? You Might Pay Less.

In 2026, the WA government continues to support first-time owners with significant concessions.

• Stamp Duty Exemptions: Pay $0 duty on established homes up to $500,000 and receive a concession on properties up to $700,000 in the Perth region and $750,000 in regional WA.

• FHOG: If you are building a new home with our partners at Summit Homes Group, you may be eligible for the $10,000 First Home Owner Grant.

Tip: Don’t forget to budget for “Day 1” costs like council rates, water service adjustments, and moving truck rentals!

Why Calculate Your Costs with Westgate?

As part of the Summit Homes Group family, we have a unique “under one roof” perspective. We don’t just look at your loan; we look at your entire project—from the land title to the final brick.

• Integrated Advice: We coordinate with your settlement agent and builder to ensure every cent is accounted for.

• Tailored Solutions: We compare over 30 lenders to find the one that minimises your upfront fees.

• WA Local Experts: We know the specific nuances of the WA Office of State Revenue.

Frequently Asked Questions: Property Buying Costs in WA

Q. How much should I budget for closing costs in Western Australia?

A. As a general rule, you should budget between 3% and 5% of the property’s purchase price for total closing costs. This includes stamp duty, settlement fees, and government registrations. For a $600,000 home, this could range from $18,000 to $30,000 depending on your eligibility for first-home buyer concessions.

Q. What is the difference between a deposit and upfront costs?
A. Your deposit is the equity you contribute toward the property price (usually 5% to 20%). Upfront costs (or closing costs) are the additional fees (like stamp duty and legal fees) that must be paid to finalise the sale. You cannot usually “borrow” these costs, so they must be saved in addition to your deposit.

Q. Are there extra costs if I am building a new home with Summit Homes?
A. When building new, you typically only pay stamp duty on the land value, not the finished house price. This can save you tens of thousands of dollars. However, you should budget for “site works” and finishing costs (like landscaping and window treatments) which may not be included in the base building contract.

Q. Can I use the First Home Owner Grant (FHOG) to pay for my closing costs?
A. The $10,000 FHOG is generally available at the time of the first “drawdown” of your construction loan. While it can help with your overall budget, it is often not available early enough to cover initial costs like the land deposit or timber pest inspections.