Emily's Mortgage Services LTD

5 Hidden Costs to Budget for When Buying a Home

Buying a property involves more than just the deposit. Many first-time buyers are caught off guard by the additional costs. Here are five to plan for:

  1. Stamp Duty Land Tax (SDLT) – Depending on the purchase price and whether you’re a first-time buyer, this can add a significant amount.
  2. Solicitor or Conveyancing Fees – Legal costs for handling contracts, local searches, and Land Registry.
  3. Survey and Valuation Fees – A home survey is optional but highly recommended. The lender may also charge for a valuation.
  4. Moving Costs – Includes van hire or professional removals, and any temporary storage.
  5. Immediate Repairs or Furnishings – Even with a move-in ready home, you may need to replace fixtures or decorate.

Top Tip: Budget an extra 3–5% of the property price to cover these and avoid surprises.

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