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How Much Did you Budget for Solicitors Fees, etc?
Comments
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While I’m not disagreeing with the idea of some sort of contingency/emergency fund, your survey should give you an idea as to the likelihood that “the boiler breaks, the roof falls in, the ground swallows the garden up, etc” - as a FTB keeping a reserve of £10k for these ‘blue moon’ type of events seems utter madness – you’re better off putting that money towards larger deposit or more expensive property.0
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I would also say that £10K is an awful lot to have in a contingency, maybe half that would be enough (especially if you are able to save when you move into the house and so increasing this fund).
Even a large expense, like the boiler needing replacing would be nowhere near this, nearer a few thousand pounds, and bar needing a new roof (which the survey should tell you), I cant think of anything else that would cost you say the 6 or 7 K left over if you do need a new boiler.
Good to have a fund as the previous poster says, but maybe being a bit over-cautious unless you also want a few K to do up the house as soon as you move in which depending on what you want to do, if you are going to do it yourself, could eat up quite a bit of the 10K.0 -
The 10k contingency is for if one of us loses our jobs and we have to manage on just 1 income. I know it seems a bit excessive, but I'd rather have that peace of mind.
What do you think about this for moving and initial costs:
Fee's 5000
Whites Goods 750
Home Insurance 250
TV Licence 145.50 -
Home insurance/tv license can be monthly, and you wont get many white goods for £750.0
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The 10k contingency is for if one of us loses our jobs and we have to manage on just 1 income. I know it seems a bit excessive, but I'd rather have that peace of mind.
What do you think about this for moving and initial costs:
Fee's 5000
Whites Goods 750
Home Insurance 250
TV Licence 145.5
£5000 seems very generous for fees if you've got no stamp duty. I would expect something closer to £1000.
TV Licence isn't really a moving fee, if you already have a licence you just transfer it to the new address.0
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