Your Home Buying Costs Summary

Contents

 

Home Buying Costs

 

Insurance Costs

 

Moving In Costs

 

 

Furnishing, Re decorating etc.

Does it just need a new colour scheme or are you planning a major refurbishment?

Before proceeding consider the cost. DIY or professionals?

If the latter, try and get more than one quote beforehand and ensure they’re clear on what you want doing. (Always get a receipt for work done).

See also the possible extra cost if you buy a Value Added Home.

 

Moving in / Removals

DIY Van Hire – c £60 plus for the day or weekend.

But can you bear the stress of your friend’s younger brother not turning up, as promised, after a late night out?

Removals firmFully insured? Is there any “excess“? … Any overtime? It should be an all inclusive quote.

Running costs to bear in mind

  • What the Council tax will be if you’re moving area.
  • Any service charges if you’re buying a flat (these can be over £1000 a year and are often missed by bad solicitors so watch out).
  • Ground rent
  • Gas and electricity bills
  • Water rates

     

     

Cost estimate summary

The other costs involved in buying your home.

 

These show rough costs where possible. Shop around and the prices will vary greatly

MortgageLender’s Application Fee Avg £800 or “free”
Conveyancing fees £400 plus
Local Authority Search £100 to £200
The Valuation Costs £100 to £250 plus
Basic Survey Costs from £250 to £400

or
Full Structural Survey from £450 min
Mortgage Indemnity Insurance: expect to pay roughly £1,500 per £100,000 of purchase price
Buildings and Contents Insurance £500 plus varies hugely dep on area
Mortgage Payment Protection Insurance Expect to pay less than £2.50 for every £100 of monthly mortgage payments

 

Plus the following “Variables”

The Deposit

Stamp Duty

Land Registry Fees

Furnishing, Re decorating etc.

Moving in
Plus

Council Tax

Any Service Charge/Ground rent

Gas and electricity bills

Water rates

See Full Guide to Costs of Buying a Home

and Costs / Fees of a UK Mortgage