Buying a home is an exciting milestone, but many Mackay buyers are surprised to learn that the purchase price isn’t the full story. Beyond your deposit and loan repayments, there are a number of hidden or often-overlooked costs that can impact your budget if you’re not prepared.

Understanding these costs upfront can help you avoid stress, protect your savings, and make more confident property decisions.

Stamp duty is one of the largest additional costs when purchasing property in Queensland. The amount depends on the purchase price and whether the property will be your principal place of residence or an investment.

While some first home buyers may be eligible for concessions, stamp duty can still add thousands to the total cost of buying.

In Mackay’s tropical climate, building and pest inspections are essential. Issues such as termites, moisture damage, or structural wear can be costly to fix if discovered too late.

This is a small upfront cost that can potentially save you tens of thousands in unexpected repairs.

A solicitor or conveyancer is required to manage contracts, settlement, and legal checks. Fees can vary depending on the complexity of the purchase, but they are an unavoidable part of buying property.

Depending on your loan structure, there may be application fees, valuation fees, or settlement charges. Some loans advertise low interest rates but include higher upfront costs.

This is where professional advice can make a big difference.

Home insurance is typically required from the date of settlement, not move-in day. If you’re purchasing a unit or townhouse, strata insurance and levies may also apply.

Once you own the property, ongoing costs such as council rates, water charges, maintenance, and repairs need to be factored into your long-term budget.

At Gardian Finance, we look beyond just the loan amount. We help Mackay buyers understand the true cost of purchasing a home and structure finance that works both now and into the future.

If you’re planning to buy, refinance, or simply want clarity around your options, having the right advice early can make all the difference.

📱 (07) 4953 2799
💻 www.gardian.com.au
📍 73 Wood St, Mackay