How should I sell a house?

Once you have you house looking presentable, it is time to get it valued. When setting a price for your house, you should get prices from estate agents, however they are not always correct and if you overprice your property it may not sell. You must hire a Solicitor/Conveyancer, these are the ones who can do the legal sale of the property. If you accept an offer, it is helpful to set a schedule with the buyer to arrange the sale. Once you have exchanged and signed the sale and purchase contracts, it is time to drop the keys off at the estate agents.

How should I buy a house?

It is advised to view the market of the area you are buying in for a while and see what the general prices of the houses are. This way you will know what a reasonable offer will be. The seller of the property will know what the local pricing is, so this could give you an edge over other potential buyers as you can give them the number they are looking for. It is advised that you have your finances in check before making an offer to the seller, to make sure they don’t take another offer. This is why you should sell first or go to the bank and query how much they can offer you on a mortgage.

What Happens After I have Bought My New House?

After you and the seller have agreed on the offer for the house, you will need to get your solicitor to transfer the legal ownership of the property to you. You Solicitor will also need to survey the property to give a valuation to the band for assurance it’s worth lending against. At this point the exchange contracts will be ready for both parties to sign, at which point the seller is obligated to the sale. The final steps towards owning the house are discussing any small issues such as furniture removal. When the exchange contracts are signed and the money has been transferred, the sale will be complete.

I’m the new owner of my house, is there anything else I need to do?

When you have obtained the keys and re the official owner of the property, you will receive an invoice from your Solicitor/Conveyancer with the amount which was agreed on hiring. If you are buying a house that is above £125,000 you will have to pay stamp duty land tax, which applies to residential properties in England and Northern Ireland.

Costs of Buying a House | Calculator Conveyancing Fees 2023

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Costs of Buying a House

When you are just buying a house, without selling another, there are still several fees to account for! These can include the cost of moving your belongings, (hiring a company to assist with your removals costs can vary depending on where you are and how much you have),your deposit for the new property, a valuation fee, pay stamp duty, a sort of land registry - if you are a first-time buyer within England and Northern Ireland you may not be aware of this buildings transaction cost which can heavily contribute to the purchase price, and legal fees such as content insurance or home insurance and things like transaction tax and council tax.

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Buying House Only

Our handy Moving Costs Calculator can quickly tell you the expected cost of buying when buying a home. Any first time buyer registered in England and Northern Ireland need to be aware of the stamp duty fees when buying a home, a buildings transaction tax can be as much as 10 mortgage fees. There are other fees you need to worry about after buying a home, such as contents insurance and land registry. You can find a quick stamp duty calculator online to see how much you could expect to pay.

What to consider when buying a house

Important Steps

SET YOUR BUDGET

One of the best top tips for first-time buyers is you need to ensure you have a figure in mind for how much you want to spend when buying a property - this will depend on how much of a deposit you have, alongside how much you can afford to borrow as a mortgage. Don't forget to add on the costs of redecorating, stamp duty,building insurance and removals.

FINANCES & MORTGAGES

There are different types of mortgages available, so make sure you look at all your options when you sort out your finances. Get a mortgage application in early rather than later, and a "mortgage in principle" will leave you in a stronger position and save money when you begin to buy a property. Be sure to check you are getting the best interest rate for your mortgage as this will affect the amount you pay back.

CHOOSE YOUR PROPERTY

View property you are interested in buying and make sure you look at all the details - you don't want any hidden surprises later on. You can even look to purchase an RICS Homebuyers Report which will provide you with a good amount of information regarding the property you like. It is important to check the property is in good condition and structurally sound.

OFFERS AND PRICES

House prices are often a little different from what you actually have to pay. Most people put in an offer which is near the asking price and expect to negotiate the price. You speak to the seller via their estate agent who relays your messages and offers to them.

LEGAL MATTERS

It's important that you use a qualified legal representative such as a solicitor or conveyancing expert to get you through the buying process smoothly. Without a legal representative, the process of moving house becomes very daunting, quickly.

EXCHANGE & COMPLETION

Once all the checks and surveys have been done, it's time to exchange and complete! Exchange is a legal term for the contracts being sent between buyer and seller (see here for advice). Once this happens, the contract becomes legally binding and your deposit is paid. Completion usually occurs a number of weeks after exchange, where you become the new owner!

Buying A New Property?

There are lots of different fees, searches, surveys and costs associated with buying a new home, so make things easier for yourself by knowing what the likely costs will be before you start! Planning the finances of your new house will be much simpler when you know what to expect. Expect to search for Home Buyers Protection Insurance, RICS Homebuyers Reports, Home Insurance, Stamp Duty Costs and Removal Quotes.

Our handy Moving Costs calculator allows you to see exactly how much money you are likely going to need in order to get the house of your dreams. Compare quotes for different services using our helpful comparison options too! The stamp duty calculator could prove handy for checking the amount you would need to pay.

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Moving Costs

Buying a House Calculator

Use our simple calculator tool to discover the expected costs for your home move, whether you are buying, selling or both!

Why Not Try

Buying, Selling & Moving House

We can provide information for people selling, buying or both! Use our tools for the scenario to suit your move.

Buy House Only

Make sure you know what to expect in fees and costs when buying a new house! Use the quote comparison tools to get the best prices for the services you need.

Costs of Buying

Sell House Only

When you are selling, there are still a number of fees and costs to cover. Make sure you know what to expect ahead of time to reduce any unexpected costs.

Costs of Selling

Buy & Sell House

Instantly see the costs involved in buying and selling property with our useful calculator tool. We can even help you find the best quotes for everything from removals to conveyancing.

Costs of Both

Frequently Asked Questions

The average cost of purchasing a house in the UK stands at £33,070, considering a home valued at £277,000, which represents the current average house price in the country. However, it's important to note that this figure can vary depending on the specific location and size of the property. Additionally, it's crucial to consider the fees associated with the conveyancer you choose for the legal process and the type of survey required for the property. Taking these factors into account will provide a more accurate estimation of the overall cost involved in buying a house in the UK.

When purchasing a house, solicitor conveyancing fees typically range from £500 to £1,150, although this can vary depending on various factors. It's important to consider that when including disbursements, the total costs can significantly increase. In the United Kingdom, the average conveyancing fees for buying a house, inclusive of disbursements, amount to approximately £2,339. It's essential to consult with your chosen solicitor to obtain an accurate breakdown of their fees and any additional expenses to ensure transparency and clarity throughout the conveyancing process.

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Cost of Buying a House

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