With the cost of living going through the roof, getting onto the property ladder has never been more expensive. And it's not just the deposit and legal fees that are burning a hole in your pocket. HCB Solicitors reveals the true costs of moving into your first home, from energy bills and broadband to buying furniture can cost £32,065.32. [1]
According to Zoopla’s latest House Price Index, the average cost of a house in the UK is £267,200. This means a first-time buyer could expect to pay up to £26,720 as a deposit to secure a property. [2]
From a regional perspective, Belfast (6.3%), Manchester (3.1%) and Glasgow (2.8%) have seen the biggest increase in house prices in the last year.
With the average 2-year fixed-rate mortgage at 5.09% and a 5-year fixed at 4.86%, homeowners could be paying out as much as £1,418 a month on their mortgage. [3]
Once you’ve secured your mortgage in principle, found your dream home, and applied for your mortgage, the next step is to instruct a solicitor to handle the legal side of things. Some mortgage providers have a list of trusted conveyancers, and some even offer to cover legal fees. However, if you don’t have this financial help, you’ll need to fork out between £500 and £1,500 for solicitor fees. If you’re choosing your own solicitor, make sure to do your research—look at reviews and ask people you know who’ve bought a home for their recommendations.
As part of the legal process, you’ll need to pay for a survey of your new home. This will highlight any potential issues and costs before you commit to the purchase. There are three types of surveys: a Full Building Survey (Level 3), a HomeBuyer Survey (Level 2), and a Condition Survey (Level 1). These can cost anywhere from £300 to £1,200.
One key step that many homebuyers overlook is getting home and contents insurance. This protects you from expensive payouts should your property or belongings get damaged. Your solicitor should ask you to arrange insurance before you move in, but according to the Association of British Insurers (ABI), the average cost of buildings and contents insurance is £396 a year, or roughly £33 a month. [4]
So, before you even step into your new property you might have already spent over £29,000.
On moving day, you might want to hire a van to transport your things. This can cost up to £167 for a week, or less if you only need the van for a few days. [5]
Once you’re settled in, you’ll need to set up direct debits for utilities like energy, council tax, broadband, and water. Council tax can be a hefty monthly cost, with some bills as high as £2,171 a year, or £181 a month. [6] The average cost of gas and electricity in the UK is £1,717 annually, or £143 a month. [7] And water bills typically cost around £39.42 a month. [8]
For those working from home, a reliable Wi-Fi connection is essential, which costs on average £26.90 a month. But don’t forget about installation fees, which can be up to £100. [9]
Now that your bills are sorted and you’ve got your mortgage and a roof over your head, it’s time to buy the essentials—especially if they aren’t already in the property. In some cases, you might need white goods, such as an oven and washing machine. You don’t need luxury items to get started—just the basics. A basic electric oven could cost around £179, while a gas one is £199. A washing machine will set you back about £199. [10]
In the early days, you might manage by sleeping on an air mattress, but eventually, you’ll want a proper bed. Brand new beds can be expensive, but you can find deals online. A double bed typically costs £199, and a mattress around £139. [11]
To begin with, you might watch TV or stream content on your phone or tablet, but long-term, you’ll probably want a comfy place to sit. A second-hand sofa from a charity shop or Facebook Marketplace could be a budget-friendly solution.
Martin Edwards, Senior Associate Solicitor at HCB Solicitors said: “House prices have increased by 1% this year and are expected to grow by another 2.5% in 2025, although this will come as welcome news for those selling, it does mean that the cost of moving in will increase.
“Buyers need to be prepared not only for higher house prices but also for the growing costs associated with securing a home. The cost of surveys, solicitor fees, and additional expenses like insurance and moving costs can quickly add up.
“For first-time buyers, this could mean an extra financial burden on top of an already expensive property market. It’s important for prospective homeowners to be fully aware of all these costs before they take the plunge.”
