Introduction
Buying or selling a home isn’t just about the asking price or the offer you accept. There are numerous overlooked costs that can catch you off guard—and they add up fast.
Whether you’re a first-time buyer or a seasoned seller, understanding these expenses upfront can save you from unpleasant surprises and help you budget more realistically.
What Buyers Often Miss
Legal and Conveyancing Fees
You’ll need a solicitor or licensed conveyancer to handle the legal aspects.
Costs typically range between £850–£2,500, depending on property value and complexity.
Stamp Duty Land Tax (SDLT)
Easily one of the biggest extra costs for buyers in England and Northern Ireland.
Example: On a £300,000 home, you could pay £5,000+ in stamp duty (unless you’re a first-time buyer and qualify for relief).
Make sure to use an official stamp duty calculator to plan ahead.
Mortgage-Related Charges
Application fees, valuation fees, and mortgage broker commissions aren’t always disclosed upfront.
These can range from £300 to £1,000+, depending on the lender and services used.
Surveys and Inspections
Homebuyer reports and full structural surveys are essential but not cheap.
Expect to spend £500 to £2,500, depending on the level of detail and property size.
Moving Costs
Hiring a removal company can cost between £300 and £1,200, especially if you’re moving long distance or have bulky furniture.
Don’t forget packing materials, potential storage, or temporary accommodation if the timeline doesn’t line up.
What Sellers Often Miss
Estate Agent Fees
Typically 1% to 3.5% of the final sale price (plus VAT).
On a £350,000 home, that’s potentially £10,000+ gone in commission alone.
Energy Performance Certificate (EPC)
You’re legally required to provide one when selling.
Costs around £60–£120 depending on your property and the assessor.
Repairs and Home Staging
Buyers are more discerning now. Small investments in paint touch-ups, deep cleaning, or minor repairs can make a big difference.
Realistically budget £500–£2,000 depending on condition.
Capital Gains Tax (if applicable)
If you’re selling a second home or a buy-to-let property, you may owe capital gains tax.
This is especially relevant if property values have increased significantly.
Why These Costs Matter
If you’re not budgeting for these extras, you’re not budgeting realistically.
Let’s say you’re buying a £275,000 property. Your deposit might be £27,500—but the total “real” cost including fees, stamp duty, surveys, and moving might be closer to £35,000–£40,000.
That gap can derail timelines, lead to delays, or force you to compromise on essentials.
How to Prepare
Get quotes early: Don’t rely on averages—get real quotes from conveyancers, agents, and moving companies.
Use financial planning tools: Tools like mortgage calculators and cost breakdown apps help you track the full financial picture.
Ask direct questions: When working with estate agents, ask what’s not included in their quote.
Set aside a contingency fund: Having an extra 5–10% buffer helps cover unexpected issues.
A Final Thought
The excitement of buying or selling a home can easily overshadow the fine print—but those “hidden” costs are real, and they affect your bottom line.
Have you considered all these expenses in your property plans?
What’s one hidden cost that surprised you during your last move?
Interested In Buying Or Selling?
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