First Time Buyer Costs

AstroTurtle

Various sites around giving various costs associated to purchasing a home.

Could i ask from your experiences how much did you have to pay out in costs to purchase your first home and what those costs were for? and what should I look out for and factor in.

I have £5,000 at the moment allocated towards potential costs and the maximum house price would be £230,000 and freehold.

Edit:

Not including deposit as a cost.

AstroTurtle

Also im assuming i'd no longer pay stamp duty?

ACG

There are a lot of similar threads on this, I know I have answered loads.

Valuation fee - will depend on the price of the property and type of valuation. Anywhere from £250 - £800.

Legal fee - assuming leasehold around £900-1000 but could be closer to £1500 if you use a high street solicitor and it is leasehold.

Stamp duty is not due unless you are buying an expensive home.

moving men/van & man/friends will be expecting a pint.

datlex

Mine were £360 for level 2 survey which included valuation £550 for solicitor (freehold) £100 for shale survey £350 for removals.

DD265

We're currently sitting at:

Valuation fee - £0 (covered by lender)
Mortgage broker - £495
Mortgage arrangement fee - £71
Survey - £396 (home buyers)
Solicitor fees - £1050 (inc searches)

Moving costs are TBC - we're doing it ourselves and hoping to borrow a van. So far we've spent £60 on packing materials but you could do it cheap/free. I gave up after wasting time with people on Freecycle (shame as it worked brilliantly 3 years ago) and have just bought the stuff so I know what I'm getting.

We'll also need buildings insurance (we currently rent) but don't know what the price is for that yet and have had to budget for appliances.

Our biggest concern, but we're hoping to avoid it, is having to pay both mortgage and rent in the same month depending on how things fall.

Don't forget little things like food/drinks, cleaning supplies if you need extra etc.

Sanne

Homebuyer survey - £380
Solicitor and searches - approx £1200
Mortgage broker - £500
Mortgage arrangement fee (was added to mortgage) - £999
Men with van - approx £300
We’ve had a one month overlap of rent (£795)
Getting certified copies of documents (our solicitor was about an hour away), postage etc about £50
We bought some appliances off the vendor (£225) and had to replace the cooker (surprise gas leak a day before we moved in - yes, there was a gas safety certificate.... we went for all electric as was easier and there thankfully was a cable) so always make sure you have some money for bad surprises.

A few hundred for paint, wallpaper, paint brushes, other tools, loft ladder etc.
If you’re renting, possibly a professional end of tenancy clean and check-out fees

We also paid for quite a bit of work done (about £11k) but that obviously depends on the house you are buying.

AstroTurtle

Sanne wrote: »

Homebuyer survey - £380
Solicitor and searches - approx £1200
Mortgage broker - £500
Mortgage arrangement fee (was added to mortgage) - £999
Men with van - approx £300
We’ve had a one month overlap of rent (£795)
Getting certified copies of documents (our solicitor was about an hour away), postage etc about £50
We bought some appliances off the vendor (£225) and had to replace the cooker (surprise gas leak a day before we moved in - yes, there was a gas safety certificate.... we went for all electric as was easier and there thankfully was a cable) so always make sure you have some money for bad surprises.

A few hundred for paint, wallpaper, paint brushes, other tools, loft ladder etc.
If you’re renting, possibly a professional end of tenancy clean and check-out fees

We also paid for quite a bit of work done (about £11k) but that obviously depends on the house you are buying.

I think i may of overestimated with the 5k then. i just assumed solicitor fee's and mortgage fee's etc would exceed that.

I have a 40k Deposit. 15k for moving in furnishings (Other bits and bobs i'll do as the months go by) and i've kept 5k behind for fee's and another 5k for emergencies