First Home Buyers
The real cost of buying a home in Queensland (beyond the deposit)
6 min read · By Daniel Lagden · 16 June 2026
The short version
- Budget for more than the deposit — duty, legals, inspections and lender fees all add up.
- Eligible first home buyers may avoid most or all transfer duty.
- A realistic 'cash to complete' figure prevents nasty surprises near settlement.
- Keep a buffer after settlement, not just enough to get to the line.
Most buyers anchor on the deposit and forget that settlement day has a longer invoice. Knowing your true 'cash to complete' — deposit plus every other cost — is what keeps a purchase from becoming a scramble in the final fortnight.
The upfront costs checklist
- Deposit — your contribution to the purchase price.
- Transfer (stamp) duty — potentially reduced or nil for eligible first home buyers.
- Conveyancing / legal fees — typically $1,000–$2,500 to handle the contract and settlement.
- Building and pest inspections — roughly $500–$800, and worth every cent.
- Loan fees — application, settlement or valuation fees, depending on the lender.
- LMI — if your deposit is under 20% and no waiver or scheme applies.
- Council and water rate adjustments — you reimburse the seller for prepaid amounts.
- Moving, connection and immediate setup costs.
A useful rule: on top of your deposit, set aside a few per cent of the purchase price for costs, then keep a separate buffer for after you move in. Being 'all in' at settlement with nothing left over is a stressful way to start home ownership.
Where first home buyers save
The biggest single saving for eligible first home buyers in Queensland is transfer duty. Concessions can remove a large chunk — sometimes all — of what would otherwise be your second-largest cost after the deposit. Whether you qualify depends on the property type, price and your circumstances.
Build the number before you shop
We map your full cash-to-complete before you start making offers, so the price you chase is the price you can actually settle. It's a five-minute conversation that saves a lot of stress later.
Frequently asked questions
How much should I budget for buying costs on top of the deposit?
As a guide, allow a few per cent of the purchase price for duty (if applicable), legals, inspections and lender fees, then keep a separate cash buffer for after settlement. Eligible first home buyers may pay little or no duty, which changes the figure significantly.
Can I borrow to cover the buying costs?
Your borrowing capacity and deposit together determine how much room you have. Some buyers structure things so costs are covered without being left short, but you can't usually 'add costs to the loan' beyond what your equity and serviceability allow. We model this case by case.
