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3 min read
Buying a home is a big step, and it’s important to know the different costs involved, beyond just saving for the deposit. In 2025 the average costs associated with buying a property in the UK was £8,108*, but this can vary depending on things like the value of the property and if you’re a first time buyer.
Here are some of the key things to budget for:
Stamp duty is one of the biggest costs involved with buying a home. In England you start paying Stamp Duty Land Tax (SDLT) on homes that cost more than £125,000 or £300,000 if you’re a first time buyer. The amount you pay will also depend on the price of the property.
Stamp duty example
|
House price |
Stamp duty cost for first time buyers |
Stamp duty cost if you're not a first time buyer |
|---|---|---|
| £300,000 | £0 | £5,000 |
| £400,000 | £5,000 | £10,000 |
| £500,000 | £10,000 | £15,000 |
You can find out more about stamp duty and how to work out how much you'll need to pay, in our guide to stamp duty.
This covers the legal work involved in buying a home. They sort the transfer of ownership paperwork and check for any environmental or planning permission issues that could cause you problems in the future. Prices can vary, but it’s usually somewhere between £1,000 and £2,500. The final price will depend on:
Some mortgages come with fees, these could be known as arrangement fees, completion fees or product fees. These can either be added to your loan or paid upfront. But remember if you add them to your loan, you’ll be paying interest on them. Your lender will explain what the fee is for your mortgage but they usually cost between £500 and £1,500.
Your mortgage lender will carry out a valuation of the property to confirm its value. You can also choose to have a more detailed survey completed to check the condition of the property. There are the three types of valuation or survey available:
This is the minimum check the lender will need to confirm the property’s value. It’s limited in what it looks at and won’t highlight structural problems. This valuation starts at £185 with the West Brom.
This is a "halfway" house between the basic valuation and a full structural survey. This report is more detailed, looking at the condition of the property and things like damp, subsidence and structural issues. It’s a good middle ground for most buyers. This valuation starts at £345 with the West Brom.
This is a thorough and complete inspection of the property carried out by a qualified professional surveyor. It is the most expensive type of report, but can prove worthwhile, especially in older properties or those in poor condition. It will provide an in-depth analysis of the building’s structure and condition. This valuation starts at £547 with the West Brom.
The cost of the different types of valuation or survey will vary depending on the purchase price of the property.
Find out how much the valuation options are when getting a mortgage with the West Brom.
Whether you’re renting a van to do it yourself or paying a removals company, it’s worth setting some money aside for the move itself. The average removals cost for a three bedroom house is £928**, but this can change depending on the size of your home, the amount of belongings you want moved and how far it needs to be transported.
You’ll need buildings insurance, and you might want to look at contents insurance too to cover your belongings.
Buildings insurance covers the structure of your home, like the roof, walls and floors and must be in place for when you buy your home. Contents insurance covers the things inside your home, like your furniture, clothes, gadgets and other personal items.
* https://hoa.org.uk/cost-of-buying-house-calculator/
** https://hoa.org.uk/advice/guides-for-homeowners/i-am-buying/how-much-do-removals-cost/
