You should budget for two main categories of cash payments: 1. Deposit: While 100% home loans are sometimes available to first-time buyers, a deposit of 5% to 10% of the purchase price is standard. A larger deposit can secure you a better interest rate. 2. Upfront Costs (Transfer and Bond Costs): These include legal fees and government taxes (Transfer Duty), and typically amount to an additional 8% to 12% of the purchase price.
