Saturday, July 13, 2024

Buyers’ Guide – Setting A Budget

Set A Budget

Work out how much you can afford to repay each month. Look at your income and outgoings, including bills, council tax, food, insurance and travel. If you are buying a leasehold flat, you’ll also have to budget for service charges, so find out how much they will be.

Budget Planning

Top Tips For Setting A Budget

  • Planning your home buying budget is essential. Calculate how much you can comfortably repay each month, considering your regular living expenses, bills, insurance, and council tax for your new home. 
  • Keep in mind that there may be a service/estate management charge for a new home and ground rent for a leasehold property. Make sure to gather all the necessary information to accurately estimate these costs. Get expert ‘Home Buying Budget Tips’ to make informed decisions. 
  • Buying a property is a big investment. You need to make sure you buy a home that you can afford and one you are happy living in.  
  • In addition to your deposit, you may also need to cover other costs including Stamp Duty, removal services and legal fees. As your first home you will also need to consider furnishing and decorating.  

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