Discuss The 'true costs of buying' checklist

If you want the true cost of buying then you'd also need to look at the "opportunity cost" of having put the deposit in. That is what else the deposit money could be used for and what it could earn, e.g. mine is getting 5% in a three year fixed savings account ATM.

Also houses are by many measures overpriced, the economy is still in bad shape, so there is the very real possibility of house price falls. This is a cost as it could mean being unable to remortgage onto the best deals if there isn't enough equity when the current deal runs out and it makes moving harder.

I think these costs need to be considered as many people compare renting in the short term vs buying now and forget to take them into account. Likewise those who consider letting out their current home and buying a new one. It's rare I've seen these properly costed when people ask for comments about doing them here, especially the "opportunity cost" of what else the deposit money could earn if one doesn't buy for the next couple of years too see what happens to house prices, interest rates aren't going to be rock bottom for ever.