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Find out the best interest rates available:

Owner-occupied Home Loan
3.59% p.a.      3.75% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 07 3354 4576 before making any decisions.
Investment Home Loan
3.89% p.a.      3.91% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an investment residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 07 3354 4576 before making any decisions.
Car Loan
7.25% p.a.      9.05% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *The interest rate is available to approved applicants financing a motor vehicle on a secured consumer fixed rate loan over 60 months. The comparison rate is based on a 5 year secured fixed rate loan of $30,000. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Applications for finance are subject to normal credit assessment. Conditions, fees & charges apply. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 07 3354 4576 before making any decisions.
Personal Loan
7.95% p.a.      9.56% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *The interest rate is available to approved applicants getting a fixed rate personal loan over 60 months. The comparison rate is based on a 5 year secured fixed rate loan of $30,000. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Applications for finance are subject to normal credit assessment. Brokerage not included. Conditions, fees & charges apply.
Refinances available from:
3.59% p.a.      3.75% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 07 3354 4576 before making any decisions.
Pre-approvals available from:
3.59% p.a.      3.75% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 07 3354 4576 before making any decisions.

The costs of buying a house in qld

The Costs of Buying a House in QLD

There’s a few different opinions on the costs of buying a house in Queensland, so I’ve put together this article to give you an accurate breakdown of the various costs. I’ve based all relevant costs on a standard house valued at $400,000. It is however important to remember that everyone's situation is different, and you are always best to speak to a Mortgage Broker in Brisbane for a free proposal on expected costs.

Conveyancing Costs when buying a house in QLD

It is possible to do your own conveyancing; but, is highly recommended you hire a professional to do it for you and guide you through the process. The costs associated can be broken up as follows:

For a total cost estimate of $1713.

Government Charges

When purchasing your home, there are a couple of government charges applicable, the first of which is the Stamp Duty. The best option for getting an accurate idea of how much this will cost would be to use the stamp duty estimator, which can be found here. As an idea, purchasing an existing home at $400,000 is likely to set you back $5,250 in stamp duty; unless, you are a first home buyer, in which case you pay $0 stamp duty up to a purchase price of $500,000 - this offer has recently been extended until 30th June 2018.

The second government chargeis the Transfer Fee, which is payable regardless of your 'first home buyer' status. For a $400,000 house, the transfer fee is $929. You can find an estimate for other prices here.

The final government charge, which is often classified as a bank fee, is a “Mortgage Registration Fee”. This is payable at settlement so the lending institution can register their mortgage over the property – it is currently set at $181 in Queensland.

Other Costs when buying a home

At settlement, you will need to pay a rates adjustment to cover Council rates, Body Corporate and other costs; which you, as the buyer, are responsible for paying from the day following settlement. This amount can vary greatly depending on the property and time of year, but should be kept in mind when purchasing a house – your conveyancer can advise you how much this will be once they have completed the council search. As an idea, I paid $1,430 when purchasing my own unit in March 2016, $752 being a rates adjustment and the balance being for Body Corporate fees.

Building and pest inspections are not compulsory, but are highly recommended in most cases – I will usually budget in $700 for this.

Please note: moving costs and insurances are beyond the scope of this article.

Home Loan Deposit

Currently in Brisbane all you usually need is a 5% deposit to purchase a house, however please refer to how much deposit do I need to buy a house in Qld for eligibility and details (and why you might want a bigger deposit). Based on a $400,000 house, this would equate to $20,000. There are currently loan products available with no upfront or ongoing fees, but whether there are any fees applicable will, of course, depend on your personal circumstances. When using a deposit below 20%, banks will require that you pay Lenders Mortgage Insurance (LMI); however, this charge can be added into the loan and is not needed to be paid upfront.

TLDR; Table of estimated costs for a $400,000 house in QLD

PurposeCost for first home buyerCost for second+ home buyer
Conveyancing Costs$1,713$1,713
(GVT) Stamp Duty$0$5,250
(GVT) Tranfer Fee$929$929
(GVT) Mortgage Registration$181$181
Rates/Body Corp Adjustment$1,430$1,430
Building & Pest (Estimate)$700$700
Home Loan Deposit (Minimum)$20,000$20,000
TOTAL COST$24,953$30,203

Total costs of Buying a House in QLD - Conclusion

Based on the total of all the above figures, the likely cost of purchasing an owner-occupied house valued at $400,000 in Queensland is approximately $24,953 for a first home buyer or $30,203 otherwise. Keep in mind that for a first home buyer eligible for the $20,000 Queensland Great Start Grant: this $20,000 can sometimes be used to cover upfront costs and bank deposits on a brand new home (not applicable for investment or construction).

Please remember that all figures used throughout are an estimate only, and will vary depending on numerous factors.

References for "Costs of Buying a House in QLD":

https://www.treasury.qld.gov.au/taxes-royalties-grants/duties/transfer-duty-grants-calculator.php   https://www.business.qld.gov.au/industry/titles-property-construction/titles-property/fee-calculator   https://www.qld.gov.au/law/housing-and-neighbours/buying-and-selling-a-property/selling-a-home/settlement-day-when-selling-your-home/   https://www.qld.gov.au/law/your-rights/legal-and-property-rights/property-ownership-laws/   https://www.qld.gov.au/housing/buying-owning-home/how-and-when-to-lodge/

DISCLAIMER: You must not rely on the information in the report as an alternative to financial advice from an appropriately qualified professional. If you have any specific questions about any financial matter you should consult an appropriately qualified professional. We do not represent, warrant, undertake or guarantee that the use of guidance in the report will lead to any particular outcome or result. The content, calculations and opinions contained in this article are of the writer only, and are not necessarily those of Blue Fox Finance.

Last updated: 
15 May, 2018
       Author: 
Zak Avery