Vital Costs You Need To Cover When Buying A Home

If you plan to purchase a home in England or Wales during the next few months, you’ll have to cover many unavoidable costs. We’re going to try to make your lives easier today by highlighting some of them. With a bit of luck, you will leave us with a better understanding of the financial essentials. Hopefully, then you can plan your budget and avoid any mistakes.

Survey Fees

You should never buy a home without first paying for some structural surveys. Experts will come to the property and perform an assessment before letting you know their results. If everything is fine, you can sign the contract and start the purchase process. Just make sure you get quotes ahead of time.

Legal Fees

Most people will pay an experienced property solicitor to help when buying a house. That means the buyer doesn’t have to file all the paperwork, and everything is kept above board. The cost of legal representation will vary depending on the professional you select. So, make sure you shop around!

Stamp Duty Land Tax

As the infographic shows, stamp duty land tax can cost a pretty penny. If you want to understand how much you will have to pay when you buy your new dwelling, just refer to the table below.

People who fail to plan for those essential expenses could find themselves in trouble. For that reason, it’s sensible to make sure you always have an extra few thousand in the bank. Don’t buy a home that uses all your money because you never know when an unexpected cost will set you back.

 


Infographic Produced By Avant Homes stamp duty infographic