How to Reduce the Hidden Cost of Your First Home?

It’s no secret that buying a house is expensive. After all, UK house prices have risen to an all-time high, with first-time buyers shelling out more than ever to get onto the property ladder. While there is zero indication that house prices will drop anytime soon, that does not mean that you cannot take action to reduce overall costs.

The price of your home is by no means the only cost you will incur when moving in. There are several hidden costs of buying a home that will easily add thousands or even tens of thousands of pounds to the overall cost of acquiring your first home. For this, we thought we’d share our top tips for slashing the hidden costs of moving so that you have more in the bank for the things that matter, like renovations and decor. 

Mortgage advisor costs

In order to obtain your mortgage, get accurate mortgage advice, broker the mortgage, and secure competitive rates, you will require the services of a mortgage advisor. However, these services rarely come cheap.

A mortgage advisor will typically run you up several hundred pounds if you don’t know how to find these services on the cheap. However, you can now use an online mortgage adviser service such as Trussle, which is 100% free and will arrange all the above services without charging you a penny. If you’re serious about saving, always opt for a free mortgage advisor over a paid one. 

One of another way to cut down the hidden costs of buying a house is best to look after the legal cost you are engaged with. Anyone who has moved house before will be quick to tell you that the legal costs are one of the most unexpected stings. After all, you will need a legal professional to perform necessary steps, such as the property search and the conveyance. This can easily run you up thousands of pounds, which is why it is so important to be proactive in your quest to reduce legal costs.

Remember, you can always negotiate with your solicitor. Your best bet is to choose a dedicated property legal services firm that offers a fixed cost for all legal services relating to your home, rather than charging piecemeal for this step. This way, you are much more likely to keep legal fees under control and make significant savings.

Stamp Duty

We do not recommend trying to use some kind of loophole to avoid stamp duty, since HMRC will not look kindly on you for it. However, there are plenty of ways to reduce or defer the total amount you pay which will help you to lower the hidden charges when buying a house. Your best starting point would be to negotiate the sale price of the home to the lowest possible level, since the stamp duty is a percentage of the total cost of the home.

Failing that, there are some other things you can do to control the hidden fees. For one, paying for all movable fixtures and fittings yourself will reduce your stamp duty, since these are legally exempt from the calculation and can be deducted from your stamp duty. You can also claim back your stamp duty if you sell your main home within three years of buying a second one. Little tips like these can easily save you five figures. 

Moving isn’t cheap, but you do have control over how much you end up paying. Follow these tips to save on the costs of homeownership and secure your place on the property ladder. 


To merge all, above mentioned tricks are money saving hacks to secure your earnings by cutting the hidden costs of owning a home. It just takes few efforts and smartness to deal with the finances while buying a house. Following the described ways would help you to save hidden costs of buying a home. But this list may get along with each an individual and one’s mind of thinking and saving. However, If you are a newcomer in buying a property or a home, Gharpedia is here to help you with that through an article.

Beginner’s Guide for Buying an Apartment

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