What a first home actually costs on your salary

The standard rule of thumb is that housing should stay under 30% of your gross income. This is the threshold the ABS uses to define housing stress, and it is also what banks use when they assess serviceability. It is a useful starting point, but gross income hides the impact of tax and HECS. A second sanity check is to look at take-home pay: if total housing costs are under 35% of your take-home, you have room to breathe. Between 35% and 45%, it is tight but manageable. Over 45%, you will feel it every month. Both lenses are valid. Use whichever feels more honest about your actual situation.

LMI is the big one. If your deposit is under 20%, lenders mortgage insurance can add $10,000 to $25,000 to your upfront costs. Some lenders let you add it to the loan. That means you pay interest on it for 30 years. Use the stamp duty calculator to see what your state charges on top of that.

HELP/HECS comes straight off your take-home pay. At $95,000 income, that is about $5,200 a year or $430 a month less in your pocket. The calculator accounts for this if you toggle it on.

Maintenance averages 1% of the property value per year. On a $750,000 house, that is $625 a month. Some years nothing happens. Other years the roof needs work and the hot water system goes.

If rates go up by 1%, your monthly repayment on a $675,000 loan jumps by about $450. Use the interest rate slider to stress test your budget. The calculator lets you see the impact instantly.

On Keyfacts, every listing shows estimated monthly repayments so you can compare the total cost across properties, not just the sticker price.

• First home cost calculator. See your full monthly cost as a percentage of take-home pay.
• Stamp duty calculator. Check what your state charges upfront.
• Deposit tracker. Work out how long it takes to save your deposit.