Property Selling Cost Calculator: A Guide to Buying & Selling Costs

Avoid surprises when selling or buying a home. Our user-friendly Buying & Selling Costs Calculator breaks down all expenses involved, beyond just the purchase price, from agent commissions to stamp duty to legal fees. Assess costs accurately in just a few clicks, empowering you to plan and budget effectively.

Understanding the Costs Involved

When buying or selling a property, it’s essential to understand the various costs involved in the process. These costs can add up quickly, and being aware of them can help you make informed decisions. Our home buying and selling cost calculator is designed to provide you with a detailed breakdown of the costs associated with buying and selling a property.

The costs involved in buying a property include stamp duty, building and pest inspection fees, strata costs, and pro rata council rates. On the other hand, the costs involved in selling a property include real estate agent fees, settlement fees, advertising fees, and conveyancing fees. Our calculator takes into account these costs and provides you with an accurate estimate of the total costs involved.

Using Our Calculator

Using our home buying and selling cost calculator is easy and straightforward. Simply enter the estimated sale price of the property, the outstanding loan amount, and any additional costs involved in selling, such as real estate agent commission and advertising costs. For buying a property, enter the property details and home loan information, including any additional purchase expenses.

Our calculator will provide you with a detailed breakdown of the costs associated with buying and selling a property, including government fees like stamp duty. You can also use our calculator to estimate the costs involved when buying and selling a property at the same time.

If You’re Selling Your Property: Use a Selling Costs Calculator…

1. Input Information: Enter the projected selling price, real estate agent commission, advertising costs, and settlement fees.

2. Detailed Breakdown: Our calculator will provide a comprehensive breakdown of your net position after completing the sale.

If You’re Purchasing a Property: It’s More Than Just the Purchase Price…

1. Input Information: Enter the property costs associated with the purchase, such as insurance costs, building inspection fees, and more. Select the desired loan type.

2. Summary of Buying Costs: Our calculator will generate a detailed summary of the buying costs, including stamp duty fees and the required loan amount.

Additional Costs to Consider

In addition to the costs mentioned above, there are other costs to consider when buying or selling a property. These include lenders mortgage insurance, early repayment fees, and cost savings. Lenders mortgage insurance is a one-off payment that can range from 1.5% to 3.5% of the loan amount. Early repayment fees can apply if you repay your loan early, and cost savings can be achieved by negotiating with your lender or shopping around for a better deal.

It’s also essential to consider the upfront costs involved in buying a property, such as pest inspection fees and building inspection fees. These costs can range from $500 to $2,000, depending on the type of inspection and the location of the property.

Tips for Minimising Costs

There are several ways to minimise the costs involved in buying and selling a property. One way is to negotiate with your real estate agent to reduce their commission fees. You can also shop around for a better deal on your home loan, and consider using a mortgage broker to help you find the best loan for your needs.

Another way to minimise costs is to consider the timing of your purchase or sale. Buying or selling a property during the off-season can result in lower prices and lower costs. You can also consider using online real estate platforms to reduce your advertising costs.

Frequently Asked Questions:

What are the costs involved in selling a house?

There are various costs associated with selling, including real estate agent fees, settlement fees, advertising fees, conveyancing fees, and more. Estimate the total costs involved using our home buying and selling cost calculator.

What are the costs involved in buying a house?

In addition to the purchase price, buyers should be aware of additional property costs such as stamp duty, building and pest inspection fees, transfer fees, and more. Use our home buying and selling cost calculator to obtain an accurate breakdown of the costs involved.

I’m purchasing a new property while at the same time selling my current home. How can I calculate the overall cost when all fees are accounted for?

If you’re buying and selling properties simultaneously, our calculator can estimate the cumulative costs of associated fees. And of course, if you’d like some extra help, we invite you to Request A Free Lending Strategy Session.

Conclusion

Buying and selling a property can be a complex and costly process. However, by understanding the costs involved and using our home buying and selling cost calculator, you can make informed decisions and minimise your costs. Remember to consider all the additional costs involved, including lenders mortgage insurance, early repayment fees, and cost savings. By following these tips and using our calculator, you can navigate the buying and selling process with confidence.