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How much does it cost to buy a house?

(7 Posts)
JumpingJackSprat Thu 20-Feb-14 10:48:05

I was wondering how much I can expect estate agents fees and solicitors fees/surveys etc to cost. We have about 10k equity in the house as have had it valued, and are expecting to be able to buy something up to about 180,000 on a 5% mortgage. My partner already owned the house so I haven't had to consider any of this stuff before-we have about 5k in savings but that's all of our savings and not sure if this is going to be enough? Wonder if anyone can advise?

hootloop Thu 20-Feb-14 10:51:15

Hi,
We bought in 2004, the house was £140,000 we paid £2500 in additional fees.

overmydeadbody Thu 20-Feb-14 10:53:02

Our finanacial adviser told us to set aside £10k for expenses including all the stamp duty and fees etc

littlecrystal Thu 20-Feb-14 12:13:36

Doing this at the moment in London (selling at 260k and buying at 235k if things go ahead)

Selling: Estate agent fees 1%+VAT 3k, solicitor fees 1k

Buying: Full survey 1k, stamp duty 2.35k, solicitor fees + searches around 2k (leasohold), moving cost 1k

Total: 10.35k

It could add up if I was changing/adding the mortgage product, have to buy building insurance from exchange date, moving far etc.

sleepyhead Thu 20-Feb-14 12:25:46

Selling: EA fees were £450 + 1% of selling price (so £1450 altogether)
Home Report (in Scotland so mandatory) was £230

Buying: Stamp duty @ 1% - £1500

Solicitor's fees for both selling & purchase were about £2000.

Movers were £470

So, it cost us £5650 in total to move house, although we were a grand or so on top of that as we did quite a few decorating jobs to the flat to prepare it for sale.

MissWing Thu 20-Feb-14 18:35:56

Selling at 180K and buying at £250k it cost us £6,677. We used emoov instead of a 'real' estate agent and saved a bunch there.

emoov532.8
Solicitors Fees (sale and purchase)1164.9
mortgage arrangement fee160
stamp duty 1% of 250k2500
survey745
removal875
broken interest on mortgage payment700
total6677.7

JumpingJackSprat Thu 20-Feb-14 20:16:26

Thanks everyone sounds like if everything isn't straightforward it may be currently outside our financial capabilities!

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