The deposit is the number buyers save for, and closing costs are the number that catches them out — several percent of the purchase price, due at exactly the moment their savings are lowest.
What the Closing Costs Estimator does
Estimates the one-off costs of completing a purchase from percentages you set, defaulting to 1.5% and 0.75% components against a 350,000 price.
The rates are yours to set because they vary enormously by country and even by region — transfer taxes alone range from near zero to well over 10%.
Open the Closing Costs Estimator and follow the settings and checks below.
What is usually included
| Setting | What it means |
|---|---|
| Purchase price | Default 350,000 |
| Component rates | Default 1.5% and 0.75% — you set them |
| Typically covers | Transfer tax, legal fees, survey, registration |
| May also include | Lender fees, broker fees, insurance, valuation |
| Typical total | 2–5% of price in many markets |
| Transfer tax alone | Near zero to over 10%, depending on jurisdiction |
| Due | At completion, on top of the deposit |
| Knows your jurisdiction? | No |
How to use it
- Look up the transfer tax and typical fees where you are buying.
- Enter the price and those percentages.
- Budget the total separately from your deposit.
Practical advice
Budget closing costs as money you will never see again, separate from the deposit. The deposit becomes equity in the property; closing costs are simply spent. Buyers who count them as part of their savings target arrive at completion several thousand short — which is the point in the process where being short is most expensive.
Common questions
How much should I budget?
Commonly 2–5% of the purchase price, but the range across countries is wide because transfer taxes differ so much. Look up your specific jurisdiction rather than relying on any general figure, including this one.
What is usually included?
Transfer or stamp tax, legal or conveyancing fees, survey or inspection, land registry fees, and often lender arrangement fees, valuation and insurance. Some are negotiable, most are not.
Can I add them to the mortgage?
Sometimes, depending on the lender and your loan-to-value. It is worth asking, but it means borrowing more against the same property and paying interest on the fees for the life of the loan.
Are these figures accurate for me?
The percentages are placeholders, not your jurisdiction. Property transaction costs are highly local and often depend on price bands, first-time-buyer status and property type. Get figures from a local conveyancer.
Useful next tools
- Rent vs Buy — Compare renting against buying over your real time horizon.
- Mortgage Calculator — Monthly payment, total interest and full amortisation schedule.
- Home Affordability — What price you can support on your income and deposit.
- Cash-on-Cash Return — Annual return on the actual cash you put in.
- Rental Yield — Gross and net yield on a rental property.
- 50/30/20 Budget Calculator — Split take-home pay into needs, wants and savings.
Vootkit provides general educational estimates, not mortgage, investment, legal, valuation or financial advice. Lending rules, taxes, transaction costs and property markets vary. Check actual offers and consult appropriately licensed professionals before acting.
Try the tools from this guide
Keep reading
How to Calculate Cash-on-Cash Return for Property
Divides annual pre-tax cash flow by the cash you actually put in — deposit, closing costs and any initial works — rather than by the property price.
How Much House Can You Actually Afford?
Estimates the property price your income supports, from your deposit, existing debt payments and a debt-to-income limit.
How Extra Payments Change Your Mortgage Payoff Date
Shows how extra payments shorten the term and reduce total interest, from a 240,000 balance at 6.5% by default.