Calculator · Deposit gap Deposit gap calculator: your real number
The cash you need on the day is more than the deposit. Put in your price, deposit and savings to see your real number, the gap, and how long it takes to close.
Your real number
$56,297
- Deposit
- $42,500
- Stamp duty
- $9,797
- Other costs
- $4,000
- Cash to get the keys
- $56,297
- Saved so far
- $30,000
- Your gap
- $26,297
- Time to close it
- 14 months
Under the 5% Deposit Scheme cap for NSW: $1,500,000 in the capital city, $800,000 elsewhere. Eligibility applies.
Illustrative. Duty on rules checked 14 October 2026. Other costs are an allowance, not a quote. Eligibility applies to every scheme.
How much deposit do I need to get the keys?
Your real number is three things added up: the deposit, the stamp duty for your state and price, and the costs of buying. On an $850,000 first home in NSW with a 5% deposit, that’s $42,500 + $9,797 + about $4,000 = about $56,297.
The deposit is the part most people plan for. Stamp duty is the part that surprises them, especially if they’ve owned before, or buy an established home in a state without first home relief.
Closing the gap sooner
- Check whether a smaller deposit is open to you: 5%, 2% for single parents, or a family guarantee.
- Check the price against your state’s first home duty thresholds. A small change in price can change the duty a lot.
- Ask whether a new home would bring a grant or lower duty in your state.
- Cut card limits you don’t use. It won’t change the gap, but it can lift what you could borrow.
FAQ Questions clients ask
How much do I need to get the keys?
Your deposit, plus stamp duty, plus costs such as conveyancing, inspections and registration fees. On an $850,000 first home in NSW with a 5% deposit, that’s about $56,297. The deposit alone is $42,500.
What costs should I allow for on top of the deposit?
Stamp duty for your state, conveyancing or legal fees, building and pest inspections, the fees to register the transfer and mortgage, and any lender fees. This calculator starts with a $4,000 allowance for the costs other than duty, which you can change.
Can I use a 5% deposit anywhere?
Under the 5% Deposit Scheme, only up to the price cap for the area, such as $1.5 million in Sydney or $950,000 in Melbourne, and only if you’re eligible. Outside the scheme, lenders set their own rules and a deposit under 20% usually costs more.
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