Buying a house - costs

tb1105

We have budgetted for the following for buying the house, have we missed anything?? (apart from the fact fees may be higher, which we understand)


1% Stamp duty (house is £187,500)
Deposit for mortgage
Solicitors around £1,000
Mortgage application £499
Valuation/survey £355

delmar39

As we're going through the same process this looks about right. Sometimes lenders also charge an admin fee of around £90, so something to look out for. Otherwise, it looks like you've covered the buying fees.

overandout_2

You budgeted for almost everything - just leave a bit for the actual moving costs, any minor repairs to your house, any mail redirection fees etc...

Good luck!

tb1105

thanks guys the builders have given us £5k towards finishing touches which allows us to turf the garden, choose our carpetting, upgrade our shower, light switches and also buy a fridge freezer and washer/dryer.

We have £3k left 'in the pot' for those things that are going to go wrong as it is a new build so there will be things that need fixing. We are going to leave decorating for a year to allow the walls etc., to settle so we can sort out any cracks.

1984ReturnsForReal_2

3 months mortgage payments before you get the interest paid if you lose your job.

clutton_2

i would get a professional "snagger" in to do a last minute snagging check before you take possession =- then you have a professional independent view if things go wrong.

builders, no matter how large, are notorious at not wanting to sort out snags....

Arthritic_Toe

Don't forget to check the final completion statement very carefully. I have had a total of three 'completions' in my life. The solicitor has made arithmetical 'errors' on two of them. Funnily enough, both of them have been in the solicitors favour to the tune of several hundred pounds.

tb1105

thanks for the advice xxx
A friend of ours is a builder, would he be able to complete a snagging survey for us? We have been told the site manager, builders and sales rep all do their own report once it is buolt and we get a 1 month check by the site manager after completion. They will sort out snags but cracks will only be repaired if they are wider than a £1 coin, otherwise its polyfiller and sanding for us!!xx

clutton_2

""site manager, builders and sales rep "" - will all be looking for things that are right

(what a sales rep will know about building snagging is beyond me......)

someone employed by you will be looking for things wrong.....

Mike_Teas

I know it's not a fortune... but you might want to think about new locks for windows and doors .