When buying a new home, you need to ensure you have sufficent funds to cover not just the difference between the purchase price and your deposit, but also enough to cover:

• Stamp Duty: This is usually the largest add-on cost when buying a home and must be allowed for.
• Legal and conveyancing fees.
• The furniture removal from your existing home.
• Any immediate repairs or renovations to the new home not covered by the purchase contract.
• A small "buffer" amount for unexpected contingencies.

Use our Financial Calculators to determine just how much you will need to borrow so that you're not left short at the last minute. For example the largest "add-on" cost is usually Stamp Duty. This varies from state to state and also whether you are a first home buyer, a purchaser who intends buying a home to live in, or whether it's for investment purposes. To see how much you'll need follow these steps.

• Estimate how much you have the capacity to borrow by using the Standard Loan Calculator or the Mortgage Comparison Calculator
• Add in removal and repair costs
• Calculate what your stamp duty and conveyancing committments on the loan amount will be and factor this into the loan to ensure you are still able to meet the repayments. You may have to consult with your conveyancing legal service to determine the actual amount involved.

Blue Sky will then help you by giving you realistic loan plans to suit your situation and ensure you have the funds available when the time comes to make your purchase.

Remember these figures are guides only, contact us for an exact assessment.