Costs - Tool 03
House & Land True Cost Calculator
Builders advertise one price. The real cost is always higher. This tool reveals the hidden costs of buying a house and land package in Australia.
Your package
Quick start: first home, new build
First home buyer?
FHOG: $30,000 for new homes valued under $750,000.
Hidden costs
Each line starts at the middle of its typical range. Open a group to adjust a line or leave it out.
Site costs$37,000
Council and compliance$20,500
Finishing (rarely included in base price)$32,775
Interior finishing$32,750
Legal and professional fees$6,017
Insurance and ongoing setup$4,650
Contingency buffer
7% = $56,258.
The construction industry standard is 10-15% contingency. Many builds need at least 5% for unexpected costs like soil issues, design changes, or material substitutions.
True total cost
$859,950
The advertised price plus the hidden costs, stamp duty and a 7% contingency, less any First Home Owner Grant. An estimate based on these inputs.
- Advertised price
- $700,000
- The gap
- +$159,950
- More than advertised
- +22.9%
Biggest hidden bucket: site + finishing usually leads
$37,000 of your hidden costs sits in the "site" group. Get itemised quotes here first - it's where overruns hide.
Contingency under 10% is risky
Construction projects almost always overrun. Master Builders + ASIC MoneySmart suggest 10-15% contingency. Yours sits at 7% ($56,258).
QLD FHOG offsets $30,000 of your true cost
First Home Owner Grant applied. The grant is paid at settlement (in most states) or after slab pour.
Where the extra goes
Each cost against the true total, with the grant as a saving.
The full sum
From the advertised price to the true total.
- Advertised package price
- $700,000
- Site costs
- $37,000
- Council and compliance
- $20,500
- Finishing (rarely included in base price)
- $32,775
- Interior finishing
- $32,750
- Legal and professional fees
- $6,017
- Insurance and ongoing setup
- $4,650
- Stamp duty (QLD)No stamp duty for first home buyers in QLD on new homes at this price point.
- $0
- Contingency buffer (7%)
- $56,258
- First Home Owner Grant (QLD)new homes valued under $750,000
- -$30,000
- True total cost
- $859,950
Take it to your builder
Copies the price, every hidden cost line, stamp duty, contingency, grant and true total as plain text.
Tips before you sign
What catches house and land buyers out most often.
- Always ask for a FIXED PRICE that includes site costs. A builder who cannot provide fixed site costs upfront is a red flag.
- Get a soil test ($500-$1,500) BEFORE you commit to a block. It could save you $25,000+ in unexpected foundation costs.
- Ask for a full inclusions list. Compare what's included vs what's extra. The cheapest quote often excludes the most items.
- Budget 5-10% on top of everything for contingency. Construction projects almost always have surprises.
- Check estate covenants. They may require specific fencing, landscaping, letterbox styles, and facade materials that cost more.
- Get a pre-handover building inspection ($400-$800). It's the best money you'll spend to catch defects before you accept the keys.
- Compare at least 3 builder quotes for the same block. Prices can vary 15-25% for similar homes.
- Remember: the FHOG can be used toward your deposit or costs, but you receive it after settlement/first drawdown, not before.
All figures are estimates based on publicly available data as of July 2026. Actual costs vary by location, block conditions, builder, and individual circumstances. This tool is for educational purposes only and does not constitute financial advice. Consider getting independent quotes and seeking professional advice before committing to a purchase.
Keep going
Tools people usually open after the True Cost Calculator.
Builder Quote ComparisonGot builder quotes to compare? Fill in what each includes or excludes and see which is actually cheapest.First-Year Cost SimulatorYear 1 ownership has its own surprises: council rates, strata, insurance, settlement adjustments and a repairs buffer.Strata Fee EstimatorEstimate strata before you offer.School Zone PremiumThe catchment premium is a hidden cost most calculators ignore. Weigh it against private school fees.Auction Max Bid CalculatorBuying at auction? The max you can bid from your cash and pre-approval, with duty, LMI and a buffer included.Settlement Adjustment CalculatorSettlement adjustment is one of several month-1 surprises. Check it line by line.Cooling-off CountdownThinking about pulling out? Cooling-off rescission has a state-specific penalty.Stamp Duty CalculatorPer-state estimate with FHB concessions auto-applied, foreign surcharges, total upfront.
House and land costs explained
Builder base prices typically exclude a long list of costs that are unavoidable before you can move in. Site preparation alone - soil testing, levelling a sloped block, and connecting utilities like water, sewer, and power - can add $5,000 to $50,000 or more depending on the land. On top of that, finishing items such as driveways, fencing, landscaping, window blinds, and air conditioning are rarely included in base packages. Add stamp duty, conveyancing fees, government registration charges, and a contingency buffer, and the real outlay can be 20-30% above the headline figure.
Stamp duty (also called transfer duty) is a state government tax charged when property changes hands. The amount varies significantly by state, property price, and whether you may be eligible for first home buyer concessions. Many states offer exemptions or discounts for eligible first home buyers purchasing new builds below certain price thresholds - for example, some states charge no stamp duty at all for eligible first home buyers on new homes under a set cap. The tool calculates an estimate based on the state and price you enter, but the relevant state revenue office makes the final determination on your liability.
The First Home Owner Grant is a one-off cash payment from your state government for eligible buyers of new or substantially renovated homes. Grant amounts and price caps vary by state - for instance, Tasmania's $20,000 grant applies to transactions commencing up to 30 June 2027. The tool automatically applies the relevant grant as an offset against your total cost when you tick the first home buyer option, but the grant is typically paid at settlement or after the first construction drawdown, not as upfront cash before signing. The relevant state revenue office determines final eligibility.
The tool lets you set a contingency percentage between 0 and 15%. The construction industry standard is 10-15%, and Master Builders associations and ASIC's MoneySmart both suggest setting aside at least 10%. Even a 5% buffer can help cover unexpected costs such as reactive clay soils requiring upgraded footings, design variations, or material substitutions mid-build. Construction projects almost always have surprises, and an underfunded contingency is one of the most common reasons first-time builders find themselves short at the end of a build. The right amount for you depends on your block, your build, and your own circumstances.
These are state government fees paid at settlement to legally register the change of ownership and record your lender's mortgage against the title. They are separate from stamp duty and conveyancing fees. The amounts vary by state. In Queensland the transfer fee also rises with the price, by a set amount for each $10,000 over $180,000, so it can reach a few thousand dollars on a typical new home. The tool updates this line item when you change your state or price, using each state government's published fee schedule.
The biggest surprises on a new build tend to come from site-related costs that builders often quote separately or exclude entirely. A geotechnical (soil) report, which costs roughly $500-$1,500, reveals the soil classification under your block. Reactive clay soils (Class H or E) can add $25,000-$75,000 in special footing requirements. Sloping blocks may require cut and fill earthworks or retaining walls ranging from a few thousand dollars up to $30,000 or more. Utility connections - water, sewer, electricity, gas, and NBN - can add $5,000 to $15,000 for standard blocks and significantly more for rural or end-of-street positions. It can help to ask for a fixed-price quote that includes site costs before you commit, so there are fewer surprises later.
Even with a detailed itemised budget, new builds and house and land purchases routinely exceed estimates. Design variations, unexpected soil conditions, material substitutions, and scope changes all add up during a build that can take 12 months or more to complete. The contingency slider lets you set aside a percentage of your total outlay - excluding any FHOG offset - as a buffer. Setting it below 10% is flagged as a risk because it leaves little room for the kind of overruns that affect most builds. The contingency is not a fee you pay upfront; it is a cash reserve to have available throughout the construction period.
Data verified July 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.