“How much cash do I need?” can mean three different things: the deposit due when you exchange, your total equity contribution, or the balance your conveyancer needs for settlement. Label each one before using a calculator. Otherwise a good spreadsheet can still double-count a large payment.
Separate exchange deposit from total equity
Imagine an illustrative $1,000,000 purchase financed with an $800,000 loan. Your contribution towards the price is $200,000. If you have already paid $100,000 of that as the exchange deposit, it is part of the $200,000, not an additional $100,000. The lender and conveyancer must confirm the actual loan funds available, deposit terms and settlement amounts.
The NSW contracts guide explains that a deposit is paid at exchange and the rest of the price is dealt with at settlement. A lender’s deposit or equity requirement is not automatically the same as the contract’s exchange-deposit requirement.
Build an itemised cash schedule
| Item | Where the amount should come from | Double-counting check |
|---|---|---|
| Contribution towards the price | Purchase price less confirmed loan proceeds | Includes any deposit already paid |
| Transfer duty and surcharge | Correct Revenue NSW assessment | Do not hide surcharge inside standard duty |
| Conveyancing and searches | Written quote and final statement | Check what disbursements are included |
| Inspections and reports | Provider quotes | Separate paid invoices from remaining bills |
| Lender and mortgage-related costs | Lender statement | Check whether financed or payable in cash |
| Rates, strata and other adjustments | Conveyancer’s settlement statement | Do not assume a generic online estimate |
| Moving and immediate costs | Your own budget | Keep optional costs visibly separate |
An example of total upfront cash
Assume a $1,000,000 ordinary residential purchase, $200,000 equity contribution, $39,187 duty under the 2026–27 schedule, no surcharge or concession, and $5,000 of other costs. Total upfront cash is $244,187. The $5,000 is invented for this example; replace it with your own itemised quotes.
This total does not tell you to transfer $244,187 at settlement. If some money has already been paid, the remaining amount is lower; adjustments and changes in actual loan proceeds can also affect it. Reconcile the final statement with your conveyancer rather than treating the calculator as a payment instruction.
Test the assumptions that change the result
- Recalculate duty at the actual dutiable value, not just a target asking price.
- Confirm first-home eligibility rather than assuming a low purchase price is sufficient.
- Ask the lender to identify fees deducted from the advance and any separately funded costs.
- Ask which inspections and reports are required for this particular property.
- Keep a record of deposits and invoices already paid, with dates and receipts.
Use the tool as a planning worksheet
The upfront buying costs calculator keeps deposit contribution, duty, surcharge and other costs separate. Its other-cost input is a placeholder for your figures. It does not calculate borrowing capacity, lender-specific mortgage insurance, settlement adjustments or your eligibility for grants. A buyers agent can help coordinate a search, while your lender and legal representative confirm the finance and legal figures.