One of the first steps anyone looking to buy a home is to use an online calculator to ensure your numbers are in place. Most buyers tend to overlook factoring in the cost of Stamp Duty. In this blog, we’re going to cover everything about a first home buyer stamp duty calculator NSW.
Let’s just first understand, what is stamp duty?
Stamp duty is a mandatory tax on estate commerce that is levied by each state and territory government. This fee is used to validate the registration of the capital and legalize the property ownership document under the buyer’s name.
The tax might vary depending on the size and value of the property, residency status and if it is the first home. Apart from the fee, there is also a payment due period which differs in different states, talking about NSW the stamp duty must be paid within the duration of three months after the settlement of the property.
Home buyers can find an aggregate amount of the tax they will have to pay by using ‘first home buyer calculator’. However, there are certain factors which affect stamp duty some of them are-
The Stamp Duty Calculator provides you with an indication of Government Costs when purchasing a property for Owner Occupied, Investment or as a First Home Owner.
Simply enter the following and the calculator will do the rest:
The Home Loan Stamp Duty Calculator will then provide you with the appropriate results.
Need assistance? Use our easy to use calculator or call Denis Mulcahy on 9907 4624 and we can help you working out your calculations, numbers and more..