Additional costs in buying a "New Home"

ceh209

kingstreet wrote: »

It is normal for the purchaser of a newbuild to pay towards the builder's solcitor's charges for the first registration of the property.

I believe the term is "engrossment charge".

Yes we were supposed to pay £70 for this - except the builder forgot to actually charge it.

New phone line as someone said, also TV aerial for which we paid £90 for 3 TV points. Curtains and poles throughout, unless you're moving from somewhere you have them already and can take them.

Doorbell. Outdoor light. Getting the loft boarded for storage space. House number. Wheelie bin numbers.

Just some of the little things I never thought about!

dc197

Your solicitor may change slightly more for conveyancing a new build. The house may require its first registration with the Land Registry and this, I think, is slightly more work for them.

Blue_Cardinal

dgtazzman wrote: »

Let me correct the above statement:

New homes MAY cost more as there MIGHT BE a premium on the price because the house is new.

All depends on how good you are at negotiating and what kind of demand there is for the plots.

Same goes regarding the statement of depreciation, all depends on the local market and what kind of deal you got.

All 'taxes and fees' are the same for new and old. If you use a scheme like Help To Buy, there will likely be some extra solicitor fees to pay, but this won't be much.

You might have to pay for landscaping, etc. as many builders don't include this and just give you an empty piece of dirt as your garden. Even if a house is new, there will still be decorating costs, lighting, curtains/blinds, paint, etc. Flooring may or may not be included in the purchase price. You will probably need to get a new phone line installed (think that's something like 60 quid). Many small extra costs that soon mount up and you won't think of till you get into your new property.

There is a £50 charge per HTB ISA to get the money out.