Can I Buy This House? | Australian Property Cost Calculator 2025

Your situation

Takes 30 seconds

State / Territory

Property price

$100k $3M

Your total savings

$0 $1M

Buyer type

🏠First Home Buyer

🔑Owner Occupier

📈Investor

Property type

🏘️Existing Home

🏗️New Build / Off-Plan

Federal scheme

✅ First Home Guarantee (FHBG)

Buy with 5% deposit — zero LMI. No income cap, unlimited places since Oct 2025.

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Other upfront costs (~$3,200)

Conveyancing ~$1,800 · Building inspection ~$500 · Pest inspection ~$200 · Loan application ~$500 · Title registration ~$200. Estimates vary by state and provider.

Calculating…

First Home Buyer benefits — all states, 2025–26

State	Stamp duty exemption	Concession range	FHOG cash grant
NSW	$0 ≤ $800,000	Sliding scale $800k–$1M	$10,000 new builds ≤$750k
VIC	$0 ≤ $600,000	Sliding scale $600k–$750k	$10,000 new homes ≤$750k
QLD	Existing: $0 ≤ $700k \| New build: $0 no cap ✨	Existing: sliding $700k–$800k	$30,000 new builds ≤$750k (until 30 Jun 2026)
WA	$0 ≤ $500,000	Metro $500k–$700k ($13.63/$100)	$10,000 new homes ≤$750k
SA	Existing: no exemption \| New build: $0 no cap ✨	N/A	$15,000 new homes (no cap)
TAS	$0 ≤ $750,000 — hard cliff (until 30 Jun 2026)	None — above $750k pays full duty	$10,000 new builds
ACT	$0 ≤ $1,020,000 (income tested ≤$250k/yr)	Sliding $1,020k–$1,455k	No FHOG — stamp duty concession replaces it
NT	Standard rates apply	N/A	$50,000 new builds \| $10,000 existing (until Sep 2026)

⚠️ Eligibility: Australian citizen/PR, aged 18+, never owned Australian property, principal place of residence. Rates verified May 2026. Always confirm with your state revenue office before signing contracts.

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First Home Guarantee (FHBG)

Buy with 5% deposit — zero LMI. Government guarantees 15% of loan. No income cap, unlimited places since Oct 2025. Price caps: $1.5M Sydney, $950k Melbourne. Apply via participating lender.

👨‍👩‍👧

Family Home Guarantee

Single parents with a dependent: just 2% deposit, zero LMI. Government guarantees up to 18% of loan. Income tested. Apply via Housing Australia participating lenders.

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Help to Buy (Dec 2025)

Shared equity — government contributes up to 40% of a new home's purchase price (30% existing). Reduces your loan significantly. Income tested. You repay the government's share over time.

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First Home Super Saver (FHSS)

Save your deposit inside super at 15% tax. Withdraw up to $50,000 for your deposit. On a $100k salary, saves ~$5,100 in tax per year. Contribute up to $15,000/yr.

Common questions

No — a very common misconception. The $1.5M figure came from the old NSW "First Home Buyer Choice" scheme, which let buyers opt into an annual property tax instead of stamp duty. That scheme was abolished on 1 July 2023. Under the current First Home Buyers Assistance Scheme (FHBAS), the stamp duty exemption applies to homes up to $800,000, with a sliding concession from $800,001 to $1,000,000. Above $1M, full standard duty applies.

Yes — they are separate schemes and fully stackable. A QLD first home buyer purchasing a new $650,000 home could receive: $30,000 FHOG cash grant + $0 stamp duty (new build, no cap) + $0 LMI via FHBG = over $65,000 in combined benefits. Each scheme has separate eligibility criteria. You cannot combine the FHBG with the Help to Buy scheme simultaneously.

Unlike most states that taper off with a sliding scale, Tasmania applies a binary rule: $0 duty below $750,000, full standard duty above $750,001 — with no transition. This means a $750,000 home costs $0 in duty for an FHB, but $750,001 immediately triggers $28,935. This cliff applies until 30 June 2026. After that, TAS is expected to revert to a 50% concession. The $10,000 FHOG for new builds is a separate ongoing benefit.

Two significant changes in 2025: (1) From 1 May 2025, QLD first home buyers purchasing new builds pay zero stamp duty with no price cap — even a $1.5M new build attracts $0 duty. (2) The exemption threshold for existing homes was raised to $700,000 (from $500,000), with a concession sliding to $800,000. Combined with the $30,000 FHOG (until 30 Jun 2026), QLD now has one of Australia's most generous first home buyer packages.

No. The ACT Home Buyer Concession Scheme (HBCS) is restricted to owner-occupiers who have not owned property in the ACT (or anywhere in Australia) in the past five years and who meet the income test of $250,000/yr household income. It provides $0 stamp duty on homes up to $1,020,000. Importantly, the ACT uses two separate rate schedules — owner-occupiers pay significantly less than investors at the same price point.

LMI estimates in this calculator are based on typical rates from Helia (formerly Genworth) and QBE, the two main LMI insurers in Australia. Rates used: <85% LVR = 0.5%, 85–90% = 1.3%, 90–95% = 2.8%, >95% = 4.5% of loan amount. Actual LMI varies by lender, loan amount, loan type, and insurer. The First Home Guarantee eliminates LMI entirely for eligible FHBs with as little as 5% deposit — tick the FHBG checkbox to see your costs without LMI.

Disclaimer: This calculator uses verified 2025–26 rates (updated May 2026) and is a guide only. It does not constitute financial, legal, or investment advice. Stamp duty concessions, FHOG amounts, and eligibility criteria are subject to state budget changes — always verify with your state revenue office and a licensed mortgage broker before signing contracts. TAS 100% exemption expires 30 Jun 2026. QLD $30k FHOG expires 30 Jun 2026 (reverts to $15k). NT HomeGrown $50k expires 30 Sep 2026. WA threshold increases announced in May 2026 budget are not yet in effect. LMI estimates are indicative only. ACT HBCS is income-tested. Foreign buyer surcharges not included. Interest rate used: 6.20% p.a. variable (indicative only).

Can I buythis house?