Off the Plan Cost Calculator
Put in your own price and circumstances to see every cost of buying a new residence off the plan in Queensland, what it costs to run each year against a house, and what selling your house and moving would leave you with.
The figures are the same ones listed in our article What are the hidden costs of buying off the plan in Queensland? Every amount you can change is a starting point only. Your own contract, disclosure statement, lender and solicitor have the final numbers. This calculator is a guide and is not financial, legal or tax advice.
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Your Details
Part 1
The Costs of Buying, Stage by Stage
Each line says what it is: an extra cost, part of the price, or money coming back to you.
Extra costs by settlement
$0
On top of the price
Deposit interest back to you
$0
Your share at settlement
Every year after
$0
Running the residence
Stage 1: Before You Sign and While It Is Built
| Line | What it is | Amount |
|---|---|---|
| Your own solicitorAbout $885 to $2,200 for the whole purchase. Counted once, in the settlement total below. | Extra cost | see Stage 2 |
| ReservationRefundable, credited to the deposit. Paying by card adds a 1.5% plus GST surcharge, which is not refunded. | Part of the price | $5,000 |
| Deposit, 10% of the priceHeld in a solicitor's trust account. Secures the residence at the agreed price. | Part of the price | |
| During constructionThe price is agreed. Only what you choose, such as variations, is added to the price. | Nothing to pay | $0 |
| Buyer's agent, broker or adviserA buyer's agent is your own choice and quote; our sales fees sit inside the price. A broker is usually paid by the lender. | Only if you choose | Your quote |
Deposit Interest
| Interest earned on the deposit, a yearAbout 3.7% a year across about 100 recent samples of ours. The rate is variable and not promised. | % |
| Total interest earned while it is builtDeposit x rate x years until finished | |
| Your share at settlementOur standard contract shares the interest equally between you and us at settlement, less a $100 plus GST holding fee. |
Stage 2: At Settlement
| Line | What it is | Amount |
|---|---|---|
| Balance of the priceThe price less the 10% deposit already paid. | Part of the price | |
| Bank valuationLenders lend on the value, not the price. If the value is lower, you top up the difference on your loan share. | Your lender | |
| Your loan | Borrowed | |
| Top-up if the valuation is lowerYour loan share of the gap between price and valuation. | Extra cash | |
| Extra costs on top of the price | ||
| Transfer (stamp) duty | Extra cost | |
| Title transfer feeTitles Queensland: $248.04 plus $46.56 for each $10,000 or part over $180,000. | Extra cost | |
| Mortgage registrationAbout $250, our reading of the Titles Queensland schedule. | Extra cost, with a loan | |
| Loan costsOne major bank charges $800 to set up an off the plan loan. Ask your lender, and ask who pays for the valuation. | Extra cost, with a loan | |
| Your own solicitorAbout $885 to $2,200 for the whole purchase. $1,309.50 is the median of ten firms' published fees. | Extra cost | |
| Settlement adjustmentsYour share of body corporate funds, building insurance, land tax at the normal amount and rates for the rest of the period. About $3,570 on a real $1.79m settlement, about $4,890 with our next forecast levies. | Extra cost | |
| About $400 for an independent inspector. Optional: our own inspection and defects process is built to save you this. | Extra cost, optional | |
| Extra costs by settlement | ||
| Less your share of the deposit interest | ||
| Cash you put in at settlementBalance of the price, less your loan, plus any top-up and the extra costs, less your interest back. | ||
Stage 3: Selling Your House and Moving
Worked out in Part 3 below. If you are not selling, set the house value there to 0 and only the moving costs count.
| Costs of selling your house | Extra cost, only if selling | |
| Moving in | Extra cost |
Stage 4: Every Year
| Line | What it is | A year |
|---|---|---|
| Body corporate leviesSet before you sign and shown in your disclosure statement. First-year levies across our buildings run about $6,000 to $17,800 a residence. $9,975 is our next project's draft for a residence near $1.8m. | Extra cost | |
| Council rates | Extra cost | |
| Water | Extra cost | |
| ElectricityAbout $1,830 at the government's 4,600 kWh benchmark, at a recent building's rates. | Extra cost | |
| InternetAbout $90 to $130 a month on the fibre already in the residence. $1,320 is $110 a month. | Extra cost | |
| Contents insuranceAbout $620, the Queensland average. The building itself is insured through the levies. | Extra cost | |
| Upkeep inside the residenceAir conditioning serviced once a year, about $400. Defects are covered for 12 months, structural defects up to 6.5 years. | Extra cost, small | |
| Investors only | ||
| Weekly rent you expectEnter your own figure from a rental appraisal. | Your figure | |
| Letting and managementOur in-house management: 8% plus GST, one week's rent plus GST to let, $300 marketing a tenancy. | Extra cost, if leased | |
| Landlord insuranceAbout $400 a year for a residence. | Extra cost, if leased | |
| Land taxOnly once all your Queensland land is worth $600,000 or more in taxable value. A residence counts at its share of the land value, not its price. | Only above the threshold | Check |
| Every year | ||
Stage 5: Only If Something Changes
| Line | When it applies | At your price |
|---|---|---|
| Changing your mind in cooling off5 business days. The seller may keep 0.25% of the price and refunds the rest. | Only if you end it | |
| Settling lateInterest at the Queensland Law Society contract rate, now 10.84% a year, on money not paid when due. | A day, only if late | |
| Asking to move settlementOur extra legal costs, if you ask more than once. | Only if you ask | Up to $330 |
| Changing the buyerNeeds our consent. Duty can be affected, so get advice. | Only if you ask | $1,925 |
| Paying the deposit with a bondPriced by term. One provider's example is about $7,700 for a $60,000 bond over 4 years. Get a quote. | Only if you choose it | Quote |
| Special leviesOnly if the body corporate votes one for a cost the budget did not cover. | Only if voted | Shared by entitlement |
| If we need more time, or the sunset date passesWe may extend settlement up to 90 days for listed reasons. After 5.5 years you can end the contract and get your money and interest back. | No cost to you | $0 |
Already Inside the Price
None of these is on top of the price. They show what the price pays for.
| GSTOur projects use the margin scheme. Your solicitor sends 7% of the price to the ATO at settlement, out of the price. | |
| Infrastructure charges | |
| Sales agents' fees0.5% to 6% plus GST, depending on the agent. | |
| ConstructionAbout half the price on our projects. |
Part 2
Running a House Against the Residence, Every Year
Change any line to match your own house. The residence side comes from Stage 4 above. Water usage, electricity and internet are left out of both sides, because you pay them in either home. Upkeep prices are typical figures from price guides: get quotes for your own house.
| Your house | A year |
|---|---|
| House, every year |
| The residence | A year |
|---|---|
| Body corporate leviesIncludes building insurance, gardens, pool, lifts, cleaning and the sinking fund for long-term repairs. | |
| Council rates | |
| Water | |
| Contents insurance | |
| Upkeep inside the residence | |
| Residence, every year |
Difference a year
$0
Part 3
Selling Your House and Moving
Buying off the plan gives you time to plan the sale and the move. Put in what your house is worth today and what you owe on it.
| Selling | Amount |
|---|---|
| Agent's commission, including GST | |
| MarketingAbout $2,000 to $25,000 or more. Standard campaigns $2,000 to $10,000, prestige $10,000 to $25,000 or more. Get it in writing. | |
| Solicitor on the saleAbout $619 to $1,899, including the seller disclosure statement. | |
| Paying out your mortgageLender fee about $350 at the major banks, plus about $250 to register the release. Fixed loans can carry a break cost: ask your lender. | |
| Getting the house ready. Tick what you need | |
| About $480 to $590 for four. | |
| About $4,000 to $10,000 for three bedrooms, up to $13,000 for four. | |
| About $5,000 to $15,000 single storey, $8,000 to $25,000 two storey. | |
| About $400 to $1,200, overgrown $800 to $2,500 or more. | |
| About $350 to $850. | |
| About $150 to $450. | |
| About $200 to $760 by size. | |
| About $3,500 to $6,000 for six weeks, more for larger homes. | |
| Inspection about $150 to $250, repairs extra. | |
| No typical figure. Handyman about $80 to $165 an hour. | |
| Costs of selling | |
| Moving in | Amount |
|---|---|
| RemovalistsThree-bedroom local move about $600 to $2,200. | |
| Curtains and blindsNot in our schedules. About $2,200 to $5,900 by residence type. | |
| First internet connection$300, one-off, usually passed on by the provider. | |
| Appliances your schedule leaves a space forBuilt-in kitchen and laundry items are part of the price. Only where a schedule leaves a space: washing machine about $450 to $950, freestanding fridge about $1,000 to $2,200. Read your schedule. | |
| FurnitureBudget from your own list. | |
| Moving in |
Your Change From the Whole Move
| Your house sells forToday's value. Part 4 lets you change this. | |
| Less the costs of selling | |
| Less what you owe on the house | |
| Money from the sale | |
| Less your 10% deposit | |
| Less cash you put in at settlementFrom Stage 2. | |
| Less moving in | |
| Less rent, storage or bridging in betweenFrom Part 4. | |
| Your change from the whole move |
Part 4
Timing and Growth
Choose when you sell, and enter your own growth rates. Both start at 0%. Values can rise, stay flat or fall, and past growth does not tell you what will happen next.
| Your house when you sell it | |
| The new residence when it is finishedAt the growth rate you entered, against the price you agreed today. | |
| Difference from the price you agreed | |
| Time between selling and settling | |
| Rent while you wait, a weekYour own figure. | |
| Storage, a monthAbout $300 to $850 for a three or four bedroom house. | |
| Bridging loan interest, % a yearOnly if settlement comes before your sale. Ask your lender for the rate. Worked on the cash you put in at settlement, for the months until your sale. | |
| Rent, storage or bridging in between |
An illustration from your own assumptions, not a forecast or advice