Friday, 27 November 2020

Some things to consider when buying your own home.

Buying your first home can be exciting and at the same time very daunting. There are many things to consider. First of all it would be a good idea to create a spread sheet to add up all the costs. Next start to do your research, buying a house needs lots of consideration and creating a budget to check the finances is very important.

What are the main things to consider?

Mortgage arrangement fee

Look for a mortgage lender that will be willing to lend you the money. You will need to have proof of documentation such as payslips, credit checks and references too. There will be a mortgage fee which you will have to budget for. 

Valuation fee

You will need to pay the lender a fee to carry out a valuation for the property. There is a charge for this which you will need to set aside. This cost will vary depending on the purchase price.

Legal fees

You will need to appoint a solicitor to work on your behalf and you will also need to include conveyancing fees.

Stamp duty

This is the fee that a buyer has to pay if the property is more than £125.00 and it is to cover the land tax and the stamp duty. There is no stamp duty payable for first time buyers for the first 300,000 pounds on any home costing up to 500.000 pounds.

Survey charges

You need to get the property that you are planning on buying surveyed to ensure that it is sound and there are no major structural problems with it. You will have to pay this fee for each property you are considering to buy, in case a sale falls through.

Removal Costs

You will need to pay removal fees so budget for this expense too. You will need to roughly estimate how much luggage you have and then check with removal company for an estimate. This depends on the amount of items you have that  needs to be moved. Removal companies also offer a packing and unpacking services at additional costs.Make sure you budget in prices for boxes, crates, tissue paper, brown paper, string, brown tape and bubble wrap.


Photo by KJ Styles on Unsplash

Home repairs

Wiring - get an electrician to check that the wiring is sound and safe.

Plumbing - check for dripping taps, flow and water pressure.

Heating - have the boiler serviced to ensure it’s in good working order.

New kitchen installation - you can get estimates to have a kitchen fully fitted or just give it a makeover by just changing cupboard doors and giving it a coat of paint.

Building bedroom furniture- you can do this your self or appoint specialists to do this.

Check List

You will need to list all the renovations that are needed and put them in order of urgency to action.

Check the quality of the decorations such as painting/wall papering and if they need immediate action or are they something you can live with and can change in due time.

Carpets or flooring- You will need to decide if the floors are in good condition. Some types of flooring to consider are tiled floors and wooden floors, such as hard wood and parquet laminate flooring. They are a good investment, and they are easy to maintain, hard wearing and great for any type of floor space.

Parquet Laminate flooring is a type of wood flooring made from small blocks or strips of wood which are laid to create a regular and geometric pattern. Parquet flooring can be made from oak, walnut, cherry, lime, pine and maple. It is laid in regular and geometric, angular shapes. You will see squares, triangles and lozenges featuring strongly in traditional parquet flooring. These can be very stylish and can really enhance the floor space in any room.

Furniture and extras

You will need to make a list of all furniture that you will need and prioritise them into as what is needed foremost.

  • Dining table and Chairs
  • Wardrobes
  • Storage

You can get second hand furniture to keep you going in the interim, or ask family and friends if they have items they are replacing and no longer need. Think of up cycling old furniture to save costs. Check out some great ideas to furnish a new home on a budget.

Once you have looked into all these factors and created your spread sheet for the budget you will need, you can start to save up the deposit for your optimum property. 

Are you a home owner or are you thinking of purchasing your own home? Do share your tips in the comments below of any other useful suggestions.

** Collaborative post


  1. Great list of items listed here on things to consider when buying a new home. I know a lot of new owners would appreciate reading this before they take the plunge

  2. Excellent post. I am hoping to move into my own house one day in the future, and these are very useful things to consider.

    Thank you for posting!

  3. Definitely important things to consider when buying a home. There are so many different fees that you need to think about.

  4. You are so right to point out having money left for repair work! The day after we moved into this house the kitchen tap came off in my husband's hand...

  5. We are looking to buy a home within the next 3 years . You’ve got some great tips and ideas here :)

  6. I owned a flat a little while back but we bought our first proper house this year and there are so many things to consider especially when it comes to costs. For us it was just being organised, prepared and keeping track of payments and paperwork x

  7. Great list of things to consider when buying a home. There are so many things I can imagine it could be easy to not factor in a cost or thing to check such as electrics.

  8. Fab tips! We bought our first home in 2014 when I was pregnaant with our first child and I still don't know how we did it, there's sooooo much to think about and this really helps break it down.

  9. My friend is just in the process of buying her first home. It's like a minefield all the things she has to do, know about etc. I will show her this post thank you

  10. You do need some savings when moving home as there are a lot of fees. Vert useful post if you are considering moving

  11. Moving house is a real learning curve, it is unbelievably expensive, especially the first time

  12. All i need to know in a simple way - thanks


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