Buying a new house can be a daunting process, especially when you are buying a house for the first time. Most people are unaware of the average solicitor fees for buying a new house, and this cost should be considered at the very early stages ensuring you can afford the whole process from start to finish.
The buying of a new home can often get lost within the whole conveyancing process. It can prove a very stressful time, and can often take the enjoyment out of the process which should be an exciting one!
When purchasing a new home, many people believe this to be their dream home. Wanting the house to be ready to move into, with everything finished perfectly and as expected. Many people have this mindset when buying a new home, as they are spending a large amount of money on a new build. However, as with most house purchases, there are solicitors fees that must be taken into consideration and budgeted for. But how do you know how much these will be? Especially if this is your first home.
But at Beeston Shenton, we aim to remove as much stress as possible for our clients who are purchasing a home. Aiming to make the process as enjoyable as possible for the homebuyers, whilst as solicitors, we deal with all of the paperwork. To help you out, we’ve listed the average solicitor’s fees below, so you know what to expect.
What solicitors fees do I need to pay when buying a new home?
Yes, a house’s price will be advertised, but there are additional costs and fees which come with buying a home.
These extra costs to consider include:
- Stamp duty
- Your deposit
- Valuation fee
- Surveyor’s fees
- Electronic transfer fee
- Estate Agent’s fee
- Removal costs
- Mortgage fees
- Council tax
- Home Insurance
- Maintenance costs
- Any Repair costs
- Running costs (electricity, water, and gas)
These costs and fees can vary depending on the individual circumstance. Therefore it’s important to keep a track of extra costs that will need to be paid in order to buy a house. However some of these costs can be negotiated, but some are fixed so research beforehand will allow you to budget for these.
You can find out more about fees as a first-time buyer. But aside from the fees associated with buying a house, including those listed above, you will also need to pay legal fees.
Average solicitor fees for buying a new house
During the conveyancing process, your solicitor will ensure that all your legal documents are filled out correctly. Plus, all legal work is carried out to ensure that your new home is in fact set up and sorted properly. The average solicitor’s fees for buying a house range from £850 to £1,500, including VAT which is currently 20%. Solicitors also complete local searches, which cost from £250-£300. But first, check whether these are included in the price or whether they are extra.
It’s important to remember that fees vary depending on circumstances. For example, if you are using a Help To Buy scheme or Shared Ownership. It may be easier to use a house-buying calculator to provide you with a more accurate estimate of costs.
If you’re thinking about buying a home, a new house, or your first home, our team can provide you with bespoke services. We can advise you on some of the most frequently asked questions, regarding property law. For more information get in touch with us, by either emailing us via email@example.com or call us on 01782 662424