First-time buyer costs: what to budget for beyond the deposit

01 · What to check

Upfront buying costs

Ask your lender, solicitor and developer for written figures wherever possible. Keep a separate cash buffer so a fee does not reduce the deposit you planned to use.

• Mortgage valuation, arrangement or broker fees where applicable.
• Solicitor or conveyancer fees, searches and Land Registry charges.
• An independent survey or snagging inspection.
• Reservation fees and any paid specification upgrades.
• Buildings insurance from the point your solicitor advises.

02 · What to check

Stamp duty

First-time buyer relief can reduce Stamp Duty Land Tax in England and Northern Ireland when the purchase meets the current conditions. The rules and thresholds can change, so calculate an estimate and confirm the final position with your solicitor or HMRC before exchange.

03 · What to check

Costs after completion

Plan for council tax, utilities, broadband, insurance, furniture and moving. New-build apartments may have a service charge. Some houses also have an estate management charge for shared landscaping or facilities.

• Ask for the current service-charge or estate-charge budget.
• Check when the first payment is due.
• Understand what is covered and how future increases are decided.
• Keep a repair and emergency buffer even when a warranty applies.

04 · What to check

Build a realistic working budget

Start with your available cash, then ring-fence the deposit, known fees, moving costs and an emergency buffer. Use conservative figures until each provider gives you a written quote.

Our stamp duty calculator gives an estimate for England and Northern Ireland. It is a planning tool, not tax or legal advice.