Hidden Costs That Add to the Budget When You Buy New Home

Dream houses take a lifetime to be bought. From putting all the paperwork in order to checking that the new home is in as good condition as you want, there are many things that as the house owner you should check. While most of us do a thorough check of the costs involved, there are still some hidden costs that you should be aware of while buying distressed property in London or anywhere else.

Registration cost: Registering land a property to your local Council is a work in itself. While setting up your account with them you need to share your new address, the date you move in, meter reading of the new property and your contact details. Not registering your property means that your title to the property is not protected buy a public register. This is itself is a paid service for which you need to keep a share in your budget.

Maintenance cost: On an average, it takes about £9500 to maintain a two-bedroom home in London. It includes utility bills, electricity, household appliances, garden maintenance, gas and insurance. So when you are buying a home in London, among other things, do check that there is no structural damage to the building as it will only add to the cost of your home.

Premium property cost: Like anywhere else, buying a property in London at a premium location has its own price. As this is a very subjective parameter that depends on a number of factors, this cost varies from building to building. If you want ground floor or a property near a public garden, be ready to sell extra for it.

Buying a property is one of those decisions that you should make only when you are aware of all the factors related to it. We, as a preferred platform that deals in buying and selling of properties / homes in UK, offer transparent services to our clients.

We can find an agent who will be interested in helping you – and we aren’t difficult to locate. You may continue at our site or check or facebook page to see the latest deals. Whatsoever you decide, we can assure you that no one else can serve you as swiftly as us. It’ll pay to have an agent like us on your side.

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All offers made via this website will be at a discount to the open market value of your home and are subject to survey and searches.

Important: Whilst we make every effort to complete in a reasonable and quick timescale, there are sometimes circumstances that might affect the actual completion date and in extreme circumstances our ability to purchase. Our initial offer is provisional and will only be confirmed once we are in receipt of a survey and the searches and contracts are deemed satisfactory by our legal team. Other factors may affect our decision to purchase or effect the price we eventually agree. Over recent years financial turbulence and market forces from both inside the UK, Europe and the rest of the world have caused extreme price fluctuations in the UK property market. Property law is as such that until exchange of contracts takes place with the legal representatives, the transaction is not legally binding. Prior to a legal exchange of contracts we can rescind the agreement at any time if we have any knowledge or we are advised that the property is not as initially described and/or anything comes to light that may have effected its value. Alternatively, the purchase price may be renegotiated by mutual consent. In the event we rescind the agreement then all legal aborted costs and disbursements and survey fees in the transaction will be met by us. We strongly advise not to commit to any expenditure or completion dates until legal exchange has taken place