The Real Cost of Buying a Home (It’s Not Just Your Deposit)

So you’ve saved up your deposit — awesome. But wait… there’s more.

Buying a home in Melbourne (or anywhere in Australia) comes with a few sneaky extra costs that catch a lot of first home buyers off guard.

Let’s break it down so you can plan ahead and avoid any surprises.

💸 Common Upfront Costs (Besides Your Deposit)

1. Stamp Duty

   • Can range from a few thousand to tens of thousands depending on price/location

   • First home buyers in VIC can get discounts or exemptions — we’ll show you how

2. Conveyancing/Legal Fees

   • Around $1,000–$2,500 for a standard purchase

3. Building & Pest Inspection

   • Usually $400–$800 — worth every cent

4. Loan Application or Setup Fees

   • Some lenders charge up to $600 (we help you avoid them when possible)

5. Lender’s Mortgage Insurance (LMI)

   • Applies if you’re borrowing more than 80%

   • Can be added to the loan, but still worth factoring in

📆 Ongoing Costs of Owning

• Council rates

• Strata/body corp (for units/townhouses)

• Maintenance and repairs

• Insurance (building + contents)

• Interest repayments (of course!)

Owning is more than just a loan repayment — we help you budget like a boss.

🧠 Nude’s Smart Strategy Session

We:

• Break down your total buying budget (deposit + costs)

• Help you plan for fees so you’re not caught short

• Structure your loan to factor in upfront or rolling costs

We can even work out if it’s better to save a bit more or get in sooner with a low-deposit strategy.

👥 Real Story: Emma in Yarraville

Emma saved $50k thinking it would be enough for a $500k property.

We showed her:

• Stamp duty was mostly covered (first home discount!)

• Costs would come to around $12k

• She needed to reduce her price slightly OR wait a few months to save more

She chose to go for a $480k home — and got the keys in March.

“Nude helped me get real about the numbers. No shocks, no stress.”

✅ Want a Full Breakdown of What Buying Will Actually Cost?

Let’s crunch the real numbers together.

👉 [Book your free home loan game plan with Nude Home Loans]