Buying a home can be an exciting, if slightly daunting experience, which can come with considerable costs.
Whether you are buying your first home or moving up the ladder, any savings during the homebuying process can help you to pay off future mortgage repayments or can be spent on doing up your new property.
For those planning to move, there are a number of ways to make sure the big event is cost-effective and goes smoothly.
Minimising the costs
There are many costs to consider when buying a home including arrangement fees, which the lender may charge for the mortgage product. But it’s a competitive market so shop around for the best deal.
Homebuyers surveys
A decent survey can save you a fortune in the future and help you avoid expensive surprises after you have moved in. There are different levels of property surveys you can choose before you buy. It is money well spent.
Legal fees
Factor in the cost of paying a solicitor’s conveyancing costs. These can vary depending on the price of the property, but an experienced property professional will help the move go smoothly and offer peace of mind.
Repairs and maintenance
Set aside a budget if you are moving into an older house the chances are that redecoration will be needed, bathroom suites upgraded and new kitchens necessary, but this could be part of the property price negotiation.
For help and advice on matters relating to the commercial and residential property sector, contact Gunduz Misiri on gunduz.misiri@mackrell.com or at 020 7240 0521.
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