Help to buy newbuild - costs other than mortage...

dgtazzman

Hi,

I was hoping somebody could give me an idea of the costs involved with buying a HTB property. Of course there's the 5% deposit, but what costs can be expected for the actual mortgage, surveys, etc.

We were planning on buying a house next year, but I am seeing an alarmingly large number of sources predicting a sharp rise in house prices over the next 5 years now, so the sooner we could get on the ladder, the better, I think.

I can't find much about the other costs using google, but as we might be buying a year sooner than intended, our finances won't be as flexible. We should still have 4 - 5k available after the 5% deposit at time of purchase, with maybe 2 k more if we have to wait a few month for the property to be built, but will this be enough? We can make due with the furniture we have and can do most of the moving work ourselves, to save costs.

I could ask my father for some financial help for moving costs etc. if need be and pay him back in due course, but as he's an OAP, I'd rather just rely on our own money.

Many thanks for your help, trying to get a full picture to make up my mind if to proceed this year, or wait another year and add around 10k to the budget.

Also, we'd be viewing in September, hoping to negotiate carpets, appliances, turf and stamp duty out of the builders...

newbian

We didn't use HTB but have purchased a new build property. Mortgage/legal costs came to around £2000 in London.

We were lucky in that we got a show property and negotiated to get the furniture. The house came with fridge/freezer, hob, etc. as you'd expect in a new build.

Other things we are buying over the next few months are:

window coverings

washing machine/dryer

alarm/security system

Shelving/storage (in our place there are two large storage rooms but to make use out of them will need shelving, probably built in)

Garden - plants and furniture (plants mostly for privacy purposes)