True Cost of Buying Calculator

What does it really cost to buy a house in the UK?

The purchase price is just the beginning when buying a property. On average, buyers spend an additional 3-10% of the property price on buying costs — that's £9,000 to £30,000 on a £300,000 home.

The main costs include:

• •Stamp Duty Land Tax — A tax based on the property price, ranging from 0% to 12% depending on the price band and your circumstances. First-time buyers get relief on properties up to £500,000.
• •Legal/Conveyancing Fees — Your solicitor's fee for handling the legal work, plus disbursements for searches and Land Registry fees. Budget £1,000-2,500 in total.
• •Survey Costs — A professional inspection of the property. Basic surveys start around £400, with comprehensive building surveys costing £1,000+.
• •Mortgage Fees — Arrangement fees, booking fees, and possibly valuation fees. Can range from £0 to £2,500 depending on the product.
• •Moving Costs — Removal company or van hire, typically £500-2,000 depending on property size and distance.
• •Insurance — Buildings insurance is required from exchange of contracts. Budget £200-500 for the first year.

How to reduce your buying costs

While some costs are fixed (like stamp duty), others can be reduced with some effort:

• •Shop around for professionals — Get at least 3 quotes from solicitors and surveyors. Prices can vary by 50% or more for the same service.
• •Consider online conveyancers — Online firms are often cheaper than traditional high-street solicitors. Just check reviews and ensure they're responsive.
• •Time your move wisely — Weekday moves are typically cheaper than weekends. End-of-month completions are busiest — mid-month may be calmer.
• •Check first-time buyer eligibility — If either buyer has never owned property (anywhere in the world), you may qualify for significant stamp duty relief.
• •Compare mortgage total cost — Don't just look at the interest rate — compare the total cost including fees over your expected term (usually 2-5 years).
• •Negotiate after survey — If your survey reveals issues, you can ask the seller to reduce the price or fix problems before completion.

Stamp duty differences across the UK

The UK doesn't have a single stamp duty system. Each nation has its own:

• •England & Northern Ireland — SDLT — Stamp Duty Land Tax is the original system. Rates range from 0% to 12%, with first-time buyer relief available on properties up to £500,000.
• •Scotland — LBTT — Land and Buildings Transaction Tax has different thresholds and rates. First-time buyers get an increased nil rate band of £175,000. The Additional Dwelling Supplement is 8%.
• •Wales — LTT — Land Transaction Tax has its own rate structure. Notably, Wales does NOT offer first-time buyer relief — all buyers pay the same rates.
• •Which rates apply? — The location of the property determines which tax system applies, not where you live. If you live in England but buy in Scotland, you pay LBTT.