Unpack Property
Costs - Tool 28

First-year ownership cost simulator

Most calculators stop at the mortgage. We add up every other cost you owe in your first 12 months: rates, strata, insurance, utilities, water, repairs and settlement adjustments.

  • About 3 minutes
  • Data verified May 2026
  • Free, no sign-up

The property

Property type
How will you use it?

Your loan

LVR: 80%

Loan term

Your own numbers

Replace a state average with your quote

QLD average.

QLD average.

QLD average.

QLD average.

QLD average.

QLD average.

Year 1 total

$62,646

Everything across your first 12 months: mortgage repayments plus the rates, strata, insurance, utilities, water, repairs and adjustments most calculators leave out. An estimate based on these inputs.

Non-mortgage costs
$17,031
Month 1 outlay
$7,072
Mortgage repayments
$45,615

Month 1 is your biggest outlay

Prepaid insurance, utility connection fees and settlement adjustments stack in your first month. Expect about $7,072 versus an average of $5,052 across the remaining months.

Biggest non-mortgage cost: Repairs + maintenance buffer

Repairs + maintenance buffer totals about $7,000 across year 1. Ask for quotes or budgets in this category before you sign.

Strata levy is a fixed monthly bite

Strata adds about $5,600 a year. Always request the strata budget, sinking fund balance, and recent minutes before signing the contract.

Set aside a repairs buffer

We've estimated about $583 a month for emergency repairs. That's roughly 1% of property value per year - the rule of thumb most insurers and lenders quote.

Month by month

Each bar stacks every cost category for that month. The first month is normally the biggest - settlement adjustments, connection fees and prepaid annual insurance all land at once.

Year 1 by category

Change any state average under Your own numbers.

Year 1 cost by category
CategoryAnnual total% of year 1
Mortgage repayments$45,61572.8%
Council rates$1,7002.7%
Strata / body corporate$5,6008.9%
Contents insurance$6401.0%
Utility connections$2790.4%
Water$9001.4%
Settlement adjustments$7921.3%
Loan ongoing fee$1200.2%
Repairs + maintenance buffer$7,00011.2%
Year 1 total$62,646

Keep a copy of your budget

Copies each cost category, the year 1 total and the non-mortgage total as plain text.

Estimates only. Based on these inputs and current state averages - replace any line with your own quote for an accurate budget. Total at price $700,000. Data as of May 2026.

Keep going

Tools people usually open when they plan the first year.

True Cost CalculatorWant the upfront costs too? Stamp duty, deposit, LMI, conveyancing and grants: everything you pay before you get the keys.3 minStrata Fee EstimatorBuying an apartment? Predict the quarterly body corporate fee from the building's features before you make an offer.2 minSettlement Adjustment CalculatorVerifying your settlement statement? See the per-line breakdown of the settlement adjustment.2 minSchool Zone PremiumHigher in-catchment prices drive council rates and insurance up too. Weigh the catchment against private school fees.3 minBuilder Quote ComparisonStill choosing a builder? Standardise 2-5 quotes side by side so you know which is really cheapest before you sign.5 minMoving CostsRemovalists, cleaning, connections, furniture, admin. Total your moving-day budget.2 minRate Shock TesterRepayments if rates jump 1-3%. Banks stress-test at +3%. Now you can too.1 minLayered Stress TestStack rate rises + pregnancy + job loss + medical. See which combinations break the budget and how big a buffer you need.4 min

First-year costs explained

Data verified May 2026

For illustration only. This tool does not constitute personal financial advice. Grant amounts, caps, and eligibility rules may change. Federal scheme caps shown are for capital city/regional centres and may differ for other areas. Always verify with your state revenue office and Housing Australia, and consider seeking independent financial advice before making decisions.