I made this cost estimator spreadsheet for first home buyers

[rizzle]

I made the below spreadhseet to get my head around the costs of buying my first home and thought others might find it useful. It's still a work in progress, so if any of the numbers look off (particularly the costs section), please let me know.

Cost of buying your first home calculator (Victoria)

 

[rizzle]

Any feedback guys?

I'm particularly interested in how realistic the costs seem (I want this to paint as accurate a picture as possible so I don't get any shocks when I go through the purchase process)

 

[alexlee]

If you don't want shocks, just be conservative, and budget costs at 5% of the purchase price. Why complicate things?

Focus too much on the costs, and you risk ignoring the non-cash things like loan features, offset, etc.

It's a bit like the canstar interest rate comparison tables. Using it makes you so focused on the interest rate when there are plenty of other things you should look out for.

 

[MC1]

As Alex stated above..... is probably the reason you don't have a lot of responses. Also there are hundreds of calculators out there that already do this without having to go into a spreadsheet.

Cheers