Preparing financially
Complete buying costs
Duty, legal fees, inspections and the costs that arrive before, at and shortly after settlement — not just the deposit.
- Land transfer duty is usually the largest single upfront cost, unless a first-home buyer exemption or concession applies.
- A realistic budget includes legal fees, inspections, loan fees, settlement adjustments, moving costs and an early-ownership contingency — not just the deposit.
- Costs fall due at different times: before contract, at settlement, and shortly after.
Land transfer duty in Victoria
Land transfer duty (often called "stamp duty") is calculated on the property's dutiable value and is one of the largest upfront costs for most buyers. Eligible first-home buyers in Victoria currently pay no duty on a home valued up to $600,000 (State Revenue Office Victoria, verified 29 Jul 2026), with a reduced (concessional) rate up to $750,000. Buyers who don't meet the first-home buyer criteria pay duty at the general rate, which is a meaningfully larger cost to budget for.
The complete cost picture
Beyond duty, budget for: title and registration fees, conveyancing or legal fees, building and pest inspections, an owners corporation records request (for apartments/units), loan application and valuation fees, mortgage registration, settlement adjustments (rates and utilities apportioned between buyer and seller), building and contents insurance from settlement, removalist costs, utility connections, and a contingency for immediate repairs. Several of these are easy to forget when budgeting only for the deposit and duty.
When each cost falls due
Before or at contract: building and pest inspection, initial legal review, contract deposit.
At settlement: remaining purchase price, duty, registration fees, adjustments for rates/utilities, loan establishment fees.
Shortly after settlement: removalist costs, utility connections, any immediate repairs, first insurance premium, furnishing.
Practical checklist
Before you set a purchase-price ceiling
- Get a duty estimate for your specific price and eligibility status
- Get quotes for conveyancing/legal fees and a building & pest inspection
- Ask your lender for a full breakdown of loan-application and valuation fees
- Set aside a contingency for immediate repairs and first-year costs
Relevant Delora tool
Questions for a professional
- What is my exact duty liability at this purchase price, including any concession?
- What will your conveyancing fee cover, and what's charged separately?
- Are there any settlement adjustments I should expect beyond the purchase price?
Official resources
Sources and methodology
- First home buyer duty exemption or concession — State Revenue Office Victoria (retrieved 29 Jul 2026)
- Land transfer duty – principal place of residence (current rates) — State Revenue Office Victoria (retrieved 29 Jul 2026)
- Land transfer duty – non-principal place of residence (current rates) — State Revenue Office Victoria (retrieved 29 Jul 2026)
Figures on this page are drawn from Delora's local knowledge graph, refreshed from these primary sources and checked for changes on a regular schedule. If a figure here looks out of date, the official source above is always the authority — please let us know.