9 Sep

Homebuyers advised to 'budget for extra costs'

Homebuyers advised to 'budget for extra costs'

Homebuyers preparing to purchase a house for sale in the UK have been advised to take account of extra costs.

According to Ashley & Peck in Brentwood, a lot of people do not budget for unforeseen expenses, which can often leave them in debt.

Richard Wilson told homebuyers to "shop around" in order to get the best deal to balance out the extra charges such as stamp duty.

This comes after money.co.uk revealed earlier this week that one-fifth of new home buyers do not set realistic budgets for their purchase.

It also stated that as well as buying costs, the expense of decorating a home can weigh on a homeowner's bank balance, with property buyers spending an average of £8,000 to do up the house within the first year of purchase.

To save money, Mr Wilson advised people to obtain a mortgage from an independent advisor "who will have more choice than a bank in the high street".

He also suggested homebuyers make sure they understand exactly what is included in the price of the property when committing to an offer. ADNFCR-1222-ID-800059152-ADNFCR

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