Getting the deposit together for your home may be your first thought about the finances of finding and buying your home, but that is just the start, there are several other areas that you need to consider so that you understand the true cost of buying your home.
After the deposit, stamp duty is probably the next biggest expense with stamp duty being charged at 1% for properties between £125,001 and £250,000. But there are also other expenses with such things as solicitors fees and survey costs – add them all up and make sure you are away of the full cost as you do not want to be caught short.
When it comes to calculating how much your new home is going to really cost you to live in, you need to consider the other regular bills that you will need to pay such as insurance for your house and contents and maybe mortgage protection insurance if you want that and of course upkeep on the property.
The average home has contents worth £45,000 and a contents policy costs on average £109 per year.
Of course if you are buying a flat or apartment in Sheffield you need to check out if there are any service costs as part of the development.
Before you buy a property you need to get yourself in order. You either need to commit to researching for the right mortgage for you, or get yourself a good broker to help you. You will also need a good solicitor to help you through the entire buying process. Get these people in position to help you first and you are in a much better position to buy and place offers.
As Sheffield property experts since 2006, here at Belvoir! Sheffield Estate Agency we can help and advise you on all these aspects and introduce you to highly experienced mortgage professionals and solicitors who we recommend.
To give yourself the best chance of getting the best mortgage you can. Make sure your finances are in order by signing up to one of the credit reference agencies and make sure that you are on the electoral role.
Belvoir! Sheffield Estate Agents are leading Sheffield property experts and professionals, we know and understand this process inside out and if you buy a home through us we will help and advise you in order to keep the process on track and running smoothly.
Belvoir! Sheffield is the one stop specialist for Sales and Residential Lettings and Property Management, Investment and Wealth Management Advice, Fit-outs and Renovations, Property Insurances and Mortgages. Belvoir! Sheffield was the winner of the Belvoir Franchise of the Year Award for 2013 and is a multi award winning agency.
For more information, please visit www.belvoirsheffield.com or call 0114 331 0033. Alternatively, please email rick@belvoirsheffield.com
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