For people across the globe, money is one of the biggest causes of stress and worry. Unfortunately, the rising cost of living and stagnant wages is making it increasingly harder for people to afford not only luxuries, but the cost of everyday life. We live in an age where sadly, those living in the 1% seem to find their bank accounts expanding, yet for ordinary folk, the struggles and hardship presented by financial woes can have damning effects. When it comes to the world of property, for the past two decades buying and selling houses has never been an easy financial ride- and its only getting tougher and tougher. Saving up for a house has become an impossible task, despite your age or experience with real estate. The rising cost of house prices, in addition to deposits and various extras, means that saving for a house has a depressing tinge to it rather than the exciting outlook that should be created. Moving house holds so many more financial aspects than the obvious costs, so here at We Buy Any House we have decided to break down exactly how much does it cost to move house.

Saving Up for a Deposit:

As you can no longer gain access to a 100% mortgage, you will have to save up for a deposit for your property. This will essentially bridge the gap between how much you mortgage lender is willing to lend you, in comparison to the actual cost of the property. The larger your deposit, the less loan you will require. However, the downside to this is that it can take a while to save up for your deposit and it’s a lengthy and disciplines process to ensure you don’t excessively spend during this time period.

Stamp Duty Costs:

When it comes to buying a home, stamp duty can be one of the biggest additional costs. When it comes to the additional costs of stamp duty, prospective buyers in England and Northern Ireland are exempt from the tax costs for any property that is worth up to £125,000. For first time buyers, they can pay no stamp duty up to £300,000 as this anything beyond is exempt.

Valuation Fee:

After you have found the property, you wish to put in an offer for, you will need a mortgage lender to come and see the property in order to establish how much the mortgage lender is willing to give you. It’s may seem extortionate in pricing, as it can cost anywhere from £150 to £1,500- depending on the value of the property.

Surveyors Fee:

Before you buy any property, you must get it checked by a surveyor. This is vital as it ensures any way in which the property is problematic can be resolved as soon as possible. From the survey, you can ensure that any money that would be spent on repairs is dealt with now.

Estate Agents:

If you are selling your property, then the estate agent’s services will fall on you as the seller, not the buyer. This is typically negotiated when the property is put on the open market by the seller. It can range between anywhere from 1%-3% of the property price, plus 20% VAT.

This article was written by a quick house sale company We Buy Any Home. If you’re wondering “how can I sell my house fast?”, head to the We Buy Any Home website for more information relating to all property related enquiries. avple

Leave a Reply

Your email address will not be published.

Buy Edibles Online Legal

March 4, 2022