If you’re planning to sell your property in Australia, you’ve likely asked yourself the big question, how much does it cost to sell a house? It’s rarely just the purchase price you need to think about. From conveyancing fees to bank fees, government fees, and real estate agent fees, the true costs involved can add up quickly. That’s why before contacting your real estate agent, you need a property value calculator, otherwise known as a selling house calculator.
Here’s everything you need to know about the selling and buying process with a detailed look at cost calculators, specific fees involved, and platforms that can make your property journey smoother.
Why Use a Selling House Calculator?
Using a selling house calculator allows homeowners to estimate everything from the outstanding loan amount and property costs to inspection fees and settlement fees, all in one place.
Some of the most useful calculators include:
- Worth of value of a house
- Real estate agent commission
- Mortgage payoff amount
- And more.
Each of these calculators provides an overview of not just all the expenses, but also breaks down upfront costs, identifies cost savings, and flags potential early repayment fees.
Costs Involved in Selling Property in Australia
Selling property comes with more than just one price tag. Here’s a breakdown of the fees involved that are commonly calculated using a selling costs calculator.
1. Real Estate Agent Fees
The first and often most significant cost is your real estate agent fee. In Australia, commission rates can vary between 1.6% to 2.5% of your estimated sale price, depending on your property’s location.
For example, on a $700,000 home in Adelaide, this could amount to around $14,000. At Best Local Real Estate Agents, we connect you with experienced real estate agents who offer transparent pricing and exceptional service to make this fee worth every dollar.
2. Conveyancing Fees
Conveyancing fees cover the legal work needed to transfer property ownership. In Australia, expect to pay between $800 to $2,200, depending on the complexity and whether any pest inspection fees or additional legal clearances are required.
Choosing a local conveyancer with strong knowledge of regional laws ensures smoother transitions and can even reduce the need for fee waivers or unexpected additional costs.
3. Bank Fees and Loan Balances
If you have an existing mortgage, you may be liable for early repayment fees, particularly with fixed interest home loans. Also, factor in bank fees, discharge fees, and your outstanding loan amount.
Some lenders in Australia charge between $300 to $1,000 to close out a mortgage. Use a selling calculator to determine your loan balance and possible exit costs.
4. Government Fees
You’ll encounter several government fees during the transaction process, including:
- Transfer fees
- Stamp duty (if buying simultaneously)
- Registration fees
These vary from state to state, so make sure to consult a cost calculator or your conveyancer for up-to-date figures.
5. Inspection Fees and Property Preparation
Pest and building inspection fees can range from $300 to $700, but they’re often a wise investment to avoid renegotiations or failed sales. Then there’s the cost of preparing your home, painting, staging, cleaning, which can vary widely depending on the property’s condition.
In most cases, pre-sale renovations and styling can deliver up to a 10% higher sale price.
Buying and Selling: The Double-Edged Sword
If you’re navigating the buying and selling process simultaneously, your calculator becomes even more critical. You’ll need a buying and selling calculator that accounts for:
- Purchase price of the new home
- Timing of sales to avoid bridging loans
- Stamp duty on the new purchase
- Lenders mortgage insurance if your new deposit is below 20%
- Possible monthly repayments overlap
The Hidden and Often Forgotten Costs
Many homeowners forget about other costs that don’t fall neatly into standard categories. These might include:
- Utility disconnection and reconnection
- Moving costs
- Temporary accommodation
- Initial interest on a new home loan
- Potential cost savings from refinancing
How to Maximise Your Return with the Right Tools and People
To make sure you don’t overpay on all the fees, start with:
- A cost of selling a house calculator
- Advice from trusted real estate professionals
- Insightful platforms like Best Local Real Estate Agents, which match you with top agents in Adelaide who offer transparency and tailored guidance
With the right preparation, you can avoid unnecessary expenses involved and take full control of your property journey.
Frequently Asked Questions
What does a selling house calculator include in Australia?
A selling house calculator Australia typically includes real estate agent fees, conveyancing fees, bank fees, government fees, and optional services like pest inspections. It may also account for your outstanding loan and potential early repayment fees.
Is lenders mortgage insurance included in selling calculators?
No, lenders mortgage insurance is usually calculated separately as it applies to the buying side of the transaction if your deposit is below 20%. Use a buying and selling calculator to determine if you might need to pay this.
How do I calculate my profit using a property profit calculator?
A property profit calculator subtracts all the expenses from your estimated sale price, including the purchase price, selling costs, and loan balance, to determine your net profit or loss.
Are there cost calculators for only loans or only payments?
Yes, some tools let you focus on only loans, such as mortgage balance calculators, or only payments, like ongoing monthly repayments. This is useful if you’re comparing new home loan products.
Can I waive some fees when selling property?
In some cases, yes. Some lenders offer fee waivers on bank fees, especially if you’re refinancing with them. Government rebates or discounts may also apply for pensioners or first-home buyers.
Final Thoughts
Selling your home can be complex, but with the right selling costs calculator, expert guidance, and local insight, it doesn’t have to be overwhelming. By understanding the total costs involved, from real estate agent fees to government fees, and using tools like a cost of selling a house calculator, you position yourself for success.
When you’re ready to take the next step, Best Local Real Estate Agents is your go-to platform for finding the top agents in Adelaide who know the real estate market inside out. We’ll help you sell or buy and guide you through every cost and calculation along the way.
