Cost Of Selling A House Calculator

Backed by Experts

Our Home Selling Costs Calculator is backed by insights from Carlisle Homes’ finance experts, designed to reflect today’s Australian home loan and real estate markets. Providing a detailed view of selling costs, this tool helps you make informed financial decisions throughout the selling process.

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What information do I need to use the calculator?

You’ll need to provide the estimated sale price, your outstanding loan amount, any real estate agent fees, and other relevant expenses like settlement fees and early repayment fees. The more accurate your inputs, the more precise the estimate will be.

What costs are involved in selling a house in Victoria?

When selling a house in Victoria, several costs are involved, including:

• Real estate agent fees: Typically ranging from 1.5% to 3% of the sale price, these fees cover the agent's commission for managing the sale.
• Marketing costs: Optional but common, these can include online listings, brochures, and open house advertisements, often costing between $500 and $5,000.
• Conveyancing or legal fees: Expect to pay between $800 and $2,000 for conveyancing or legal services to manage the transfer of ownership.
• Auction fees: If you sell via auction, there may be fees for the auctioneer’s services, typically ranging from $400 to $1,000.
• Repairs and renovations: Costs vary depending on the scope of work needed to present the property well.
• Capital gains tax (CGT): If the property is an investment or not your primary residence, you may need to pay CGT on the profit from the sale.
• Home staging costs: Home staging is optional but recommended to improve the appeal of your home. It can range from $1,500 to $5,000.
• Settlement fees: These fees cover the transfer of ownership and are typically around $800 to $1,500.

These costs can vary based on the property, location, and sale method, so it’s important to budget accordingly.

How does the calculator factor in my personal financial circumstances?

The calculator gives an estimate based on your loan details and the information provided, but it does not account for changes in your personal financial circumstances, such as income fluctuations or credit score changes.

When can you refinance a mortgage?

You can refinance a mortgage at any time, but it’s ideal to do so when:

⦁    Interest rates have dropped, and you can lock in a lower rate.
⦁    Your financial situation has improved (e.g., better credit score, higher income).
⦁    Your property has increased in value, allowing you to access better terms or use the equity.
⦁    You want to switch from a variable rate to a fixed rate (or vice versa) for more financial control. 

However, consider the costs involved before refinancing, such as exit or break fees if you're on a fixed-rate loan.

How long does it take to refinance a mortgage?

Refinancing a mortgage typically takes 2 to 4 weeks from the time you submit your application to the settlement. The timeline depends on factors like the complexity of your financial situation, how quickly the lender processes the application, and whether a property valuation is required. If you provide all necessary documents upfront, the process may be quicker.