Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

What costs are involved in buying and selling these days?

9 replies

MaggieW · 17/05/2007 11:17

It's a few years since we sold and bought and are now toying with the idea again. Things have moved on quite a bit so I'm trying to get a realistic budget together to work things out. Can anyone give me a list of costs I need to consider and budget for please?

OP posts:
TheBlonde · 17/05/2007 11:30

what are you going to sell and buy??

ripax · 17/05/2007 11:36

a house . Obviously - DUH!

MaggieW · 17/05/2007 11:41

Yes, selling a house and buying another.

OP posts:
ChippyMinton · 17/05/2007 11:44

estate agent fees for selling
legal fees for buying and selling, inlcuding land registry, searches etc
stamp duty (that's the bigg one!)
removals...

ripax · 17/05/2007 11:44

try searching on the BBC they have it somewhere

scatterbrain · 17/05/2007 11:47

Not sure what price bracket you're looking at - but we are currently buying and selling for a fraction under £500K and the costs in total are about £26K. Obviously over half od that is stamp duty - but solicitors, removals and estate agents really add up. Our estate agents have cost £6.5K (on 1.35%), solicitors is about £1.5K and removals will be £2K.

Bloody expensive game !

frogs · 17/05/2007 11:50

Depends on the price range in which you're planning to buy and sell. We've just done it, and the costs are, frankly, eyewatering. Not going to quote figures cos I'll get jumped on, but you need to work on the basis of:

4% stamp duty on your purchase if over £500k;
2% or so of sale price in estate agents fee;

The above two are the biggies, and for a 4-bed house in London can easily add up to an extra £30K or more. Yes, you can get cheaper estate agents, but if the expensive ones sell your house aggressively, you may still end up better off than choosing a more laid-back cheaper one.

Also:

£2000 in solicitors costs (sale and purchase);
£1500 in removal costs (good removers, 5-bed house);

You can economise on these, but to an extent you get what you pay for. Cheap solicitors likely to be significantly less good ime. Ditto removers. Also remember:

Fee for mortgage application if applicable;
Spare money for replacing appliances if necessary;
Cost of redecorating if necessary;
Cost of changing locks;
May need to upgrade insurance.

TheBlonde · 17/05/2007 12:01

ripax - it could have been anything thank you!

TheBlonde · 17/05/2007 12:06

Don't forget...
Survey
Arrangement fee
Mortgage valuation
Searches, Land registry

Also possibly HIP

New posts on this thread. Refresh page