PropPocket · Buyer guide
How much cash do I need to buy a home in NSW?
Your deposit is only part of the cash needed. Add transfer duty, legal and inspection costs, lender and registration fees, and any settlement adjustments. Keep moving costs, immediate repairs and your chosen emergency reserve separate. Confirm which costs your approved loan will actually fund.
By PropPocket · Reviewed 16 October 2026 · Figures in Australian dollars
Calculate my cash to buyA $1 million NSW home: cash to buy
Illustration for a repeat buyer at a 20% deposit, using standard duty and editable cost allowances. No first-home relief, foreign purchaser surcharge or special exemption is included. The fee allowances are assumptions, not quotes.
| Cash item | Amount |
|---|---|
| Deposit (20%) | $200,000 |
| Indicative NSW transfer duty | $39,187 |
| Legal / conveyancing allowance | $2,000 |
| Inspection / report allowance | $600 |
| Other fees / adjustments allowance | $1,000 |
| LMI at 20% deposit | $0 |
| Cash to buy, before reserve | $242,787 |
| Illustrative reserve kept after settlement | $20,000 |
| Cash needed including that reserve | $262,787 |
The $20,000 reserve is an illustration you choose, not a required or recommended amount. Moving, furnishings and immediate repairs need additional funding if not already allowed for. BidReady’s upfront result excludes your retained reserve: subtract it from available savings before using the cash-budget mode. Do not add a contract deposit again if it is already part of your purchase deposit.
How the NSW duty estimate is calculated
Revenue NSW’s 2026–27 standard band for this price is $11,602 plus 4.5% of the value above $387,000. For this $1 million illustration: $11,602 + ($1,000,000 − $387,000) × 4.5% = $39,187. The contract date and dutiable value determine the applicable rules; dutiable value can exceed the price.
Eligible first-home buyers may pay no duty on a new or existing home up to $800,000, with reduced duty above that and below $1 million. Property type, residency, ownership history and other conditions matter. Grants, duty relief and federal deposit support are separate schemes; do not subtract a grant until its amount and payment timing are confirmed.
Revenue NSW: current rates, dutiable value and calculator · First Home Buyers Assistance Scheme
Official NSW rates and relief thresholds checked 16 October 2026. The example uses the shared BidReady engine; special transactions and surcharges are not modelled here.
Cash required is different from the loan amount
Some lenders allow LMI to be added to the loan, subject to their limits. That lowers cash needed for the premium but raises the debt and repayments. This example has no LMI; BidReady’s standard low-deposit comparison assumes it is paid upfront. A larger loan may indirectly free savings to pay duty, but approval and valuation limits still apply.
Check legal, report, registration, lender and adjustment amounts individually. A $0 field means that cost is excluded, not that it has been verified as free. Ask your conveyancer for settlement figures and your lender for the approved funding breakdown.
Before you use the result
- Replace allowances with quotes and avoid counting the same fee twice.
- Keep your reserve and money committed to moving outside the deposit budget.
- Check ongoing repayments, rates, strata, insurance and repairs as well as upfront cash.
Moneysmart: buying a house · Moneysmart: planning an emergency fund