Buying a home isn't as easy as saving your deposit and waiting to hear whether your bid came out on top. In fact, making that offer is one of the easier aspects of buying your own home.

It's tempting to think that the total cost of buying a property stops at the sale price. The reality is, however, the $20,000 you've squirreled away for a deposit may not provide the cushy ride into home ownership you may have hoped. In fact, if you combine large costs such as stamp duty and lenders mortgage insurance (LMI), you may have already wiped out almost half of your deposit.

The biggest shock for many first-time buyers is not knowing that these fees exist until you're smacked with the bill. Conducting adequate research into the true cost of buying a property is vital to the success of your budget and making it safely across the finish line with your new set of house keys.

For the complete list of costs and practical tips on how to avoid them, read the latest issue of Your Mortgage magazine out on sale now.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan