The purchase price is only part of the cost of buying a home. Alongside your deposit, you’ll usually need to budget for legal fees, property searches, a mortgage valuation, a property survey if you choose one, home insurance and the cost of moving.
Depending on the property you’re buying and your circumstances, you may also need to pay Stamp Duty. Some costs are paid during the buying process, while others begin once you’ve completed your purchase.
Including these costs in your budget before making an offer gives you a more realistic picture of what you’ll need to spend.
Your Deposit
If you’re buying in Cardiff, it’s a good idea to work out your budget first, then see what deposit you’ll need for the type of property you’re hoping to buy.
Many mortgages are available with a 5% deposit, although putting down 10%, 15% or 20% may increase the number of mortgage products available and reduce the amount you need to borrow.
The right deposit for you will depend on your budget, the property’s purchase price and the mortgage you’re applying for. If you’re one of many first time buyers, it’s easy to assume you need years of savings before buying a home.
While saving a larger deposit has its advantages, there are mortgage products designed for buyers with smaller deposits.
Legal Fees
Once your offer has been accepted, you’ll need a solicitor or licensed conveyancer to deal with the legal work involved in your purchase.
This includes reviewing contracts, carrying out property searches, communicating with the seller’s solicitor, transferring funds and registering your ownership with HM Land Registry after completion.
Every solicitor charges differently, so it’s worth checking exactly what’s included in their quotation. Some firms include certain disbursements within their fee, while others list them separately.
Property Searches
Property searches are arranged by your solicitor and provide information that isn’t always obvious when viewing a property.
They can reveal issues such as planning restrictions, flood risk, drainage arrangements, road schemes and other matters that could affect the property or your decision to buy it.
Mortgage lenders normally expect these searches to be completed before releasing the mortgage funds.
Property Survey or Mortgage Valuation?
These are often confused, but they serve different purposes.
A mortgage valuation is arranged by your lender to confirm the property’s value and whether it’s suitable security for the mortgage. It isn’t a detailed inspection and shouldn’t be relied upon to identify defects.
A property survey is arranged for your benefit. Depending on the type of survey you choose, it can highlight structural movement, damp, roof problems, timber defects and other issues that may require repairs after you’ve moved in.
If you’re buying an older property or one that’s been heavily altered, a survey can provide valuable insight before you’re legally committed to the purchase.
Stamp Duty
Stamp Duty Land Tax may form part of the cost of buying a home, although not every buyer will need to pay it.
The amount depends on the property’s purchase price and your circumstances. For example, different rules can apply to first time buyers and people purchasing an additional property.
As rates and thresholds can change, it’s always worth checking the latest government guidance before you complete your purchase.
Home Insurance
If you’re buying with a mortgage, your lender will normally require buildings insurance to be in place before completion or from the date contracts are exchanged, depending on the terms of the purchase.
Buildings insurance protects the structure of your home, while contents insurance covers your belongings. Although contents insurance isn’t usually compulsory, many homeowners choose to arrange both policies at the same time.
Moving Costs
If you’re relocating to Cardiff from another part of Wales or elsewhere in the UK, it’s worth including removal costs in your budget alongside the other expenses involved in buying a home.
Depending on how much you’re moving, you may need to budget for a removal company, van hire, packing materials, storage or professional cleaning. These costs vary from one move to another, but including them in your budget from the start can help you avoid unexpected expenses.
Ongoing Costs After You Move In
Alongside your mortgage payment, you’ll need to budget for Council Tax, gas, electricity, water, broadband and home maintenance. If you’re buying a leasehold property, there may also be service charges or ground rent.
Setting aside money for general repairs is also worthwhile, particularly if you’re moving into an older property where maintenance costs can arise without much warning.
Date Last Edited: August 4, 2026
