The principal costs in buying a house are:-

  •  Survey costs, check our Guide to Surveyors
  •  Conveyancing fees and disbursements, check our Guide to Conveyancers
  •  Stamp duty, check our Guide to Stamp Duty
  •  Mortgage arrangement fees, check our Guide to Mortgages
  • Removal fees, check our Guide to Removals
  • Repairs, check our Guide to Surveyors

 The average survey cost is around £400 but this depends on the detail of survey you require.  An older, more expensive house may cost considerably more.  Conveyancing fees average around £400 but disbursement on a house purchase where searches are required can more than double this.  Mortgage fees vary, but these could be as much as £1,000 on a mortgage of £200,000.  Stamp duty is the most significant cost in buying a house.  generally this is 3% of the purchase price but can less on a first time home or more on a second home.

Be aware of repairs which your new house may require, some of which may be more urgent, for instance roof repairs or damp, which a detailed survey will reveal.  This could amount to many thousands of pounds especially if the house is older.

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Simpler Tip

When working out what you can afford and how much to pay for a house ensure that you have taken all costs, including potential repair bills into account.