Simulate every recurring cost in the first 12 months of owning an Australian property - mortgage repayments, council rates, strata levies, landlord or home and contents insurance, utility connection fees, and a maintenance buffer - displayed month by month so you can see the cash flow demands after settlement.
Why is month 1 so much higher than later months?
On settlement day a lot of bills land at once: prepaid building or contents insurance for a full year, utility connection fees, and settlement adjustments where you pay the seller back for rates and strata they have already paid in advance. Later months smooth out once those one-offs are behind you.
What is a settlement adjustment?
When the seller has already paid council rates, water or strata for a period that runs past your settlement date, you reimburse them for the part that covers your ownership. Your conveyancer calculates the split. We estimate it as a fraction of the annual amounts so you can see it sitting in month 1 rather than being a surprise on the statement of adjustments.
Why is building insurance $0 for my apartment?
In a strata building the body corporate insures the building itself and bills it through your levies. You only need contents insurance for what is inside your unit. We still show contents insurance for apartments because it is your responsibility.
How accurate are these defaults? Can I use my own numbers?
The seed values are mid-band state averages from the official sources at the bottom of this page. Real rates notices, strata levies and insurance quotes vary by suburb and property. Tap "Use my own numbers" on the category table and paste in the figure from your rates notice or quote - the chart and totals update straight away.
Why does land tax show $0 if I am a PPR (owner-occupier)?
Your principal place of residence is exempt from land tax in every Australian state and territory. Land tax only applies to investment property and only once the land value (not the purchase price) crosses your state threshold. Toggle to Investment above and we will estimate it using your state brackets.
What about strata special levies?
Special levies are one-off charges the body corporate raises when the sinking fund cannot cover a major repair (lifts, roof, building defects). They are unpredictable, so they are not in the baseline number. Before you sign a contract, ask for the strata report, the sinking-fund balance and the last few sets of minutes - that is where flagged special levies live.
Does this include stamp duty and LMI?
No. This tool covers the first year of ownership after settlement. For one-off purchase costs like stamp duty, deposit and lenders mortgage insurance, head to the True Cost calculator - link is just below the chart.
How is the emergency repairs buffer calculated?
We set aside about 1% of property value each year. That is the rule of thumb most insurers and lenders quote for routine repairs, replacement appliances, and small fixes. Houses also carry a separate maintenance line for lawn, gutters, and pest. It is a buffer - in a good year you will not spend it.