It’s not just the initial cost of the house that can set you back a pretty penny. When beginning the process of buying a home, the cost of buying a property can become overwhelming if you’re not properly prepared.
From stamp duty to home insurance and surveyor services, many costs can come out of the woodwork. If you’re getting ready to begin your search for a new home, budgeting carefully will help you to feel more financially prepared for any eventuality.
At Propertyable, we’re the experts on all things properties, so we’ve shared our knowledge on the costs of buying a house. Our free guide details the answers to the question ‘what are the costs of buying a house’, along with plenty of tips and tricks on how to handle the process.
How Much Does it Cost to Buy a House?
The costs of buying a property often take many by surprise, so we have created a guide explaining the main costs of buying a home so you see what you can expect to pay before you move and after you have moved in.
The deposit you pay towards a house purchase is usually 10% although 5% deposit mortgages are available.
When you apply for a mortgage, products, usually those with fixed rates of interest can incur a mortgage arrangement fee.
An independent survey is your opportunity to ensure you won’t get any nasty surprises once you move into your new home.
Stamp duty is a tax payable on land and property transactions. First-time buyers in England do not have to pay any stamp duty on properties up to the value of £425,000.
You will need to have taken out buildings insurance cover before completion on the property. The cost of this varies from property to property.
Having our guide to the costs of buying a house within reach throughout your journey on the property ladder is the best way to avoiding any nasty surprises as you navigate the world of property.
With big purchases, come big contingencies. Instead of guessing and hoping for the best, check out our free guide and be fully prepared for every financial eventuality.
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