Before buying a home, compare the deposit, repayments and long-term cost
Start with affordability, stamp duty and monthly repayments, then compare renting, refinancing and early repayment. The real question is not only what a bank may lend, but whether the decision leaves enough room in your monthly cash flow.
What you should know at the end
By the end, you should be able to explain how much cash you need, the real monthly commitment, and how much interest-rate or property-price movement you can tolerate.
0 of 4 steps opened
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- 1Set an affordable range first
- 2Count cash costs beyond the deposit
- 3Compare renting and buying on one timeline
- 4Optimise the mortgage after purchase
Work through the decision
- 1
Set an affordable range first
How much of your income can repayments take without squeezing your cash flow?
Test different prices, deposits, terms and rates. Bank approval does not mean the payment will remain comfortable after management fees, rates, repairs and emergency savings.
Calculate mortgage costs - 2
Count cash costs beyond the deposit
How much cash must be ready before completion?
Beyond the deposit, stamp duty, legal fees, agency commission, renovation and mortgage insurance can change the entry cost. Subsidised housing and high-LTV mortgages also follow different rules.
Test a high-LTV mortgage - 3
Compare renting and buying on one timeline
For a similar home, is renting necessarily money wasted?
Compare the opportunity cost of the deposit, transaction costs, interest, rent and property-price assumptions. Do not compare rent with repayments alone, or treat price growth as guaranteed.
Compare renting and buying - 4
Optimise the mortgage after purchase
With spare cash, should you prepay, refinance or keep liquidity?
Check the penalty period, old and new rates, cashback and legal fees, then compare a shorter term with a lower payment. Do not drain emergency cash merely to save interest.
Compare mortgage prepayment
Before making the decision
- Would repayments remain manageable if the rate rose by one percentage point?
- Will several months of essential expenses remain as an emergency reserve after completion?
- If you move sooner than expected, could transaction costs absorb most of the gain?
What the calculators cannot decide
- Approval still depends on bank valuation, credit history, income proof and current policy.
- The tools cannot include every estate-, bank- or transaction-specific fee.
Explore another decision route
Planning estimates only. Review the inputs, assumptions and official sources on each calculator before acting.