A deposit percentage is useful, but it does not answer the whole question. You also need to account for the gap between the property price and the loan, government charges, buying costs, money already paid and what you want left after settlement.
Cash to complete, in normal English
You may hear “cash to complete” used in two slightly different ways.
The first is your total cash contribution across the purchase. The second is the amount still needed in the settlement account after anything already paid, such as the contract deposit, has been allowed for.
I care about both. One tells you whether the purchase is workable. The other tells you what needs to be available on settlement day.
Total buying cash
Property price
+ government and buying costs
- loan
- other confirmed purchase funds
= your total cash contribution
Still needed at settlement
Total cash contribution
- money already paid toward the purchase
= the remaining settlement amount
A contract deposit is usually part of your contribution toward the property price. It is not normally a second cost to add again. The timing still matters because some money may be needed when you sign, while the balance is needed later.
There are really two cash targets
The settlement target
This is the amount needed to complete the purchase after the loan, contract deposit and any confirmed funds available at settlement are reconciled. It may include the property-price gap, duty, registration charges, legal and lender costs, upfront LMI and settlement adjustments.
The practical target
Getting the keys is not the final expense. This target also allows for inspections paid earlier, insurance, moving, essential setup, immediate repairs and some money left after settlement. The calculator cannot decide what a comfortable buffer looks like for your household.
What can sit inside the number?
1. The property gap
This is the difference between the purchase price and the loan or other confirmed purchase funding. A low-deposit pathway may reduce this gap or remove LMI for an eligible buyer. It does not automatically pay duty, legal fees or every other buying cost.
2. Government charges
Transfer duty, sometimes still called stamp duty, is set by each state or territory. Transfer and mortgage registration charges also vary. The amount can depend on the price, contract date, property type, where you buy, whether you will live there and whether a concession applies.
3. Legal work and property checks
Allow for your solicitor or conveyancer, searches and any building, pest or strata reports you need. These are property-specific costs. Get quotes instead of relying on a generic allowance once you are seriously considering a home.
4. Loan and settlement costs
Depending on the loan and property, this could include lender fees, valuation costs, LMI and settlement adjustments for rates, water or body corporate charges. LMI may be added to the loan or paid upfront. Adjustments may be a debit or a credit, so confirm how each item is being treated.
Why the same price can produce a different answer
Two buyers can look at homes with the same price and still need very different amounts of cash. The result can change with:
- the state or territory;
- a new home, established home or vacant land;
- first-home-buyer eligibility;
- the contract date and settlement date;
- whether the home will be owner-occupied or an investment;
- the lender’s valuation and approved loan amount;
- whether LMI is waived, added to the loan or paid upfront; and
- which grant or duty concession applies, and when any grant is paid.
A grant and a duty concession are not the same thing. They can have different eligibility tests and payment timing. Use the grants and schemes hub to check the right state or territory, then put the property through the cost to complete calculator.
The before-you-offer checklist
You do not need every figure down to the cent while you are browsing. You do want the major lines identified before an offer becomes binding.
- Set a realistic purchase-price range, not only a maximum loan figure.
- Run the calculator at the lower, middle and upper ends of that range.
- Confirm the likely loan amount, LVR and how LMI may be treated.
- Check duty and first-home concessions for the state, property type and contract date.
- Confirm whether a grant may apply and when it would become available.
- Get an indicative conveyancing or solicitor quote.
- Allow for the property checks needed before signing or bidding.
- Get an insurance indication for the actual property.
- Ask the conveyancer what settlement adjustments may appear.
- Keep moving, setup and emergency money separate from the settlement calculation.
- Re-run the figures using the actual property before going unconditional or bidding at auction.
- Replace estimates with the lender’s and conveyancer’s final figures before settlement.
Put a price through the calculator
Start with the state, property type, purpose, first-home-buyer status and purchase price. The calculator can estimate:
- the property contribution and loan position;
- transfer duty and the duty treatment matching the details entered;
- transfer and mortgage registration charges;
- an allowance you enter for legal and bank fees;
- the LMI treatment selected by you; and
- the cash contribution required at that price.
The calculator does not know your final conveyancing quote, inspection costs, settlement adjustments, insurance, moving costs, immediate repairs or the buffer you want left. It also does not approve a loan or confirm scheme eligibility.
Treat it as a planning estimate. Your lender’s final funds-to-complete figure and your conveyancer’s settlement statement are the figures used to complete the purchase.
Keep going if you need more detail
5% deposit vs cash to complete
Why the advertised deposit percentage and the money needed to settle are different numbers.
The costs buyers forget
What can sit around the purchase, moving day and the first months of ownership.
Deposit vs borrowing power
Work out whether cash is actually the constraint, or whether the bank’s affordability test is.
The home loan process
See the steps from the first conversation through application, approval and settlement.
Sources and further reading
Reviewed 30 July 2026 against ASIC MoneySmart’s buying a house guidance, its guide to saving for a house deposit, the Australian Government 5% Deposit Scheme FAQs, and the official First Home Owner Grant portal. Duty, concessions and grants are administered by state and territory authorities, so current links are maintained in the grants hub and calculator.