What this page is based on
Trust and data notes
- ReviewedUpdated for 2026 where the underlying rates and assumptions are maintained in the codebase.
- How to read the figuresOfficial charges and estimate-led costs are shown separately so buyers can see which parts of the total are fixed rules and which parts are planning ranges.
- When to double-checkFigures are guidance only. Buyers should check important numbers with their solicitor, lender or the relevant official authority before making financial decisions.
- Source styleThis page includes official-rate references and linked source notes where applicable.
Official reference points used on this page include HMRC SDLT residential property rates and Revenue Scotland LBTT residential rates and bands.
At a glance
Key facts buyers should know first
What this page covers
Purchase costs, completion costs, moving-in costs, furnishing/setup and first-year non-mortgage ownership costs.
What it excludes in examples
Mortgage repayments, because they vary by loan size, rate, term and deposit.
Status
Official charges include property tax and registration-style fees. Other lines are planning estimates.
Buyers should check
Solicitor statements, lender fees, insurance quotes, tax treatment and first-year household bills.
Trust note
Official-rate items vs estimate-led items
TrueHomeCosts separates published rates from market-based assumptions so buyers can see which figures are official and which ones are planning estimates.
Official or published-reference items
- property tax bands
- published registration-style fees where applicable
- council tax bands
Estimate-led items
- legal fees
- mortgage fees
- survey costs
- moving costs
- furnishing
- insurance
- utilities and maintenance
How labels are used across the site
Official charge: based on published tax bands or fee scales.
Lender charge: fees tied to mortgage products, valuations or broker work.
Solicitor/conveyancing estimate: legal work and disbursement planning ranges.
Market estimate: surveys, moving, furnishing or other provider-led costs.
Optional cost: useful for planning, but not required on every purchase.
Situation-dependent cost: applies only to some properties or buyer types.
Plan the full picture
Use this guide with the right follow-up pages
Start with the homepage calculator to test your own numbers, then compare this topic with Hidden costs of buying a house in the UK, How much money do I need to buy a house in the UK?, Stamp duty explained: UK property tax in plain English and Mortgage fees and costs in the UK.
First-year cost timeline
The first year is easier to plan when it is split into stages. Some costs arrive before the purchase completes, while others appear after the keys are handed over.
The table below keeps the focus on timing, so buyers can see why the cost of buying a house in the first year is not just a completion-day calculation.
The table below shows a first-year house buying timeline, separating pre-completion, completion-day, move-in and ongoing ownership costs.
| Stage | Typical costs | Why it matters |
|---|---|---|
| Before completion | Survey, mortgage fees, valuation fee where charged, solicitor account payment, searches and disbursements | These costs can be paid before the purchase is legally complete, so buyers need cash ready early. |
| Completion day | Deposit balance, property tax where applicable, final legal balance, registration-style fees and lender fees not added to the mortgage | This is usually the largest single cash point in the buying process. |
| Moving-in period | Removals, van hire, storage, cleaning, locksmiths, small repairs and immediate setup costs | These costs may not appear on the solicitor statement but still affect the first-year budget. |
| First month | Council tax setup, utilities, water, broadband, insurance and essential furnishing | Household bills begin quickly and can overlap with move-in spending. |
| Months 2-12 | Ongoing bills, maintenance reserve, contents insurance, service charge or estate charge where relevant | The first-year home ownership costs continue long after completion day. |
On smaller screens, scroll sideways to view every column clearly.
Example: first year cost of buying a £250k house
This is an illustration, not advice or an average. It uses a 10% deposit and shows estimated first-year costs excluding mortgage repayments.
Property tax can be £0 for some buyers but may apply depending on nation, buyer status and additional-property status. Mortgage repayments are excluded because they vary by loan size, rate and term.
The table below shows an illustrative first-year cost breakdown for a £250,000 purchase, excluding mortgage repayments.
| Cost line | Illustrative amount | Type / note |
|---|---|---|
| Deposit | £25,000 | 10% deposit illustration |
| Property tax assumption | £0 | May vary by nation and buyer status |
| Legal / conveyancing | £1,500 | Solicitor and conveyancing estimate |
| Mortgage fees | £1,000 | Lender or broker-related estimate if paid upfront |
| Survey | £600 | Market estimate |
| Moving costs | £1,200 | Moving-in estimate |
| Furnishing / setup | £2,500 | Estimate-led first-year setup line |
| First-year non-mortgage ownership costs | £7,200 | Council tax, utilities, insurance, maintenance and similar lines |
| Estimated total excluding mortgage repayments | £39,000 | Planning illustration, not a quote |
On smaller screens, scroll sideways to view every column clearly.
This subtotal table groups the same £250,000 illustration into upfront buying costs, moving and furnishing, and first-year ownership costs.
| Subtotal group | Illustrative amount | What is included |
|---|---|---|
| Upfront buying costs subtotal | £28,100 | Deposit, property tax assumption, legal / conveyancing, mortgage fees and survey |
| Moving and furnishing subtotal | £3,700 | Moving costs plus furnishing / setup |
| First-year non-mortgage ownership costs | £7,200 | Council tax, utilities, insurance, maintenance and similar ownership bills |
| Estimated first-year total excluding mortgage repayments | £39,000 | Planning illustration only; mortgage repayments need to be added separately |
On smaller screens, scroll sideways to view every column clearly.
This example shows how a lower-price purchase can still need much more than the deposit alone. Moving, furnishing and the first year of household bills add a second layer of spending after the legal purchase costs.
Mortgage repayments are not included in the total, so buyers would still need to add their own expected monthly payment based on the loan, interest rate and term.
Example: first year cost of buying a £350k house
This illustration uses a 10% deposit and an England/Northern Ireland home mover style property tax assumption for a simple planning scenario. It does not claim to be an average.
The tax line can change in Scotland, Wales, for first-time buyers and for additional-property buyers. Mortgage repayments are excluded because the loan, rate and term drive that number.
The table below shows an illustrative first-year cost breakdown for a £350,000 purchase, excluding mortgage repayments.
| Cost line | Illustrative amount | Type / note |
|---|---|---|
| Deposit | £35,000 | 10% deposit illustration |
| Property tax assumption | £7,500 | Illustrative SDLT-style planning assumption |
| Legal / conveyancing | £1,700 | Solicitor and conveyancing estimate |
| Mortgage fees | £1,000 | Lender or broker-related estimate if paid upfront |
| Survey | £800 | Market estimate |
| Moving costs | £1,600 | Moving-in estimate |
| Furnishing / setup | £3,500 | Estimate-led first-year setup line |
| First-year non-mortgage ownership costs | £8,400 | Council tax, utilities, insurance, maintenance and similar lines |
| Estimated total excluding mortgage repayments | £59,500 | Planning illustration, not a quote |
On smaller screens, scroll sideways to view every column clearly.
This subtotal table groups the £350,000 illustration into the main first-year spending stages.
| Subtotal group | Illustrative amount | What is included |
|---|---|---|
| Upfront buying costs subtotal | £46,000 | Deposit, property tax assumption, legal / conveyancing, mortgage fees and survey |
| Moving and furnishing subtotal | £5,100 | Moving costs plus furnishing / setup |
| First-year non-mortgage ownership costs | £8,400 | Council tax, utilities, insurance, maintenance and similar ownership bills |
| Estimated first-year total excluding mortgage repayments | £59,500 | Planning illustration only; mortgage repayments need to be added separately |
On smaller screens, scroll sideways to view every column clearly.
The £350,000 illustration shows why the first-year cost can rise quickly once property tax and a bigger deposit are included. It also separates one-off move-in spending from the bills that keep running after completion.
A buyer with different tax treatment, a larger deposit or a more expensive move could land outside this illustration, so it should be treated as a planning example rather than an average.
Try this in the calculator
Run your own version of this scenario
Use the homepage calculator to change the property price, nation, buyer type and assumption level so you can compare the simple version of the budget with a more realistic one.
Open the calculatorExample: first year cost of buying a £500k house
This illustration uses a 10% deposit and a broad England/Northern Ireland home mover style tax assumption. It keeps mortgage repayments separate because they can change sharply with the size and structure of the mortgage.
At this level, the true cost of buying a house in the UK can move quickly if the buyer is purchasing an additional property, buying in a different nation, choosing a fuller survey or needing more furnishing work.
The table below shows an illustrative first-year cost breakdown for a £500,000 purchase, excluding mortgage repayments.
| Cost line | Illustrative amount | Type / note |
|---|---|---|
| Deposit | £50,000 | 10% deposit illustration |
| Property tax assumption | £15,000 | Illustrative SDLT-style planning assumption |
| Legal / conveyancing | £2,000 | Solicitor and conveyancing estimate |
| Mortgage fees | £1,500 | Lender or broker-related estimate if paid upfront |
| Survey | £1,000 | Market estimate |
| Moving costs | £2,200 | Moving-in estimate |
| Furnishing / setup | £5,000 | Estimate-led first-year setup line |
| First-year non-mortgage ownership costs | £10,200 | Council tax, utilities, insurance, maintenance and similar lines |
| Estimated total excluding mortgage repayments | £86,900 | Planning illustration, not a quote |
On smaller screens, scroll sideways to view every column clearly.
This subtotal table shows how the £500,000 illustration is split between purchase, move-in and first-year ownership costs.
| Subtotal group | Illustrative amount | What is included |
|---|---|---|
| Upfront buying costs subtotal | £69,500 | Deposit, property tax assumption, legal / conveyancing, mortgage fees and survey |
| Moving and furnishing subtotal | £7,200 | Moving costs plus furnishing / setup |
| First-year non-mortgage ownership costs | £10,200 | Council tax, utilities, insurance, maintenance and similar ownership bills |
| Estimated first-year total excluding mortgage repayments | £86,900 | Planning illustration only; mortgage repayments need to be added separately |
On smaller screens, scroll sideways to view every column clearly.
At £500,000, the first-year picture is more sensitive to tax treatment, survey choice, furnishing needs and whether the property has leasehold or estate charges. The deposit is still only the starting point.
Mortgage repayments could be a major additional cost in year one, so this example deliberately keeps them separate rather than pretending one repayment figure fits every buyer.
What buyers often underestimate in the first year
The deposit is only one part of the cash requirement. Some costs are paid before completion, the completion month itself can be expensive, and moving-in costs can overlap with the first council tax, utility and insurance bills.
Furnishing can also run beyond move-in week. Appliances, curtains, tools, repairs and smaller household items often arrive in waves, just as the first-year home ownership costs begin.
Leasehold service charges, estate charges, repairs and setup spending can surprise buyers who only model the legal purchase total. The cost of buying a house in the first year should therefore be planned as a timeline, not a single completion-day number.
Estimate your own first-year home buying cost
The examples above are planning illustrations. Your own result will depend on property price, nation, buyer type, deposit, tax treatment, mortgage fees, survey level, moving choices, furnishing needs and the first-year ownership costs for the home.
Use the home buying cost calculator to model the purchase price, nation, buyer type and assumptions, then add your own first-year ownership estimates for council tax, utilities, insurance, maintenance and any service charge.
Practical note
Estimate the full first-year picture
Use the home buying cost calculator for the buying total, then add first-year ownership, moving and setup costs so the deposit does not hide the wider cash requirement.
Go to the calculatorReference points
Official UK guidance
This guide is informed by publicly available UK guidance from official and consumer-support sources where relevant.
Content notes
Reviewed and maintained by the TrueHomeCosts research team.
Our guides are built from official UK tax sources, public cost information and typical market price ranges. We separate fixed official charges from variable market estimates so buyers can see which figures are certain and which may change.
Last reviewed: April 2026
This content is for general guidance only and is not financial advice. For more detail, read how our estimates work or learn more about TrueHomeCosts.
FAQ
Questions buyers usually ask
What is the first year cost of buying a house?
The first year cost of buying a house is the total cash picture across the purchase and the first year of ownership. It includes the deposit, upfront costs of buying a house, completion-day costs, moving-in costs, furnishing or setup costs and first-year home ownership costs. Mortgage repayments should be modelled separately because they depend on the loan size, interest rate and term.
What costs do I pay before completion?
Before completion, buyers may pay for a survey, mortgage-related fees, valuation fees where charged, solicitor account payments, searches, ID checks and some conveyancing disbursements. These costs can be due before the purchase is legally complete, and some may be paid before exchange. That is why the first-year budget should start before completion day, not after it.
What do I pay on completion day?
Completion-day costs usually include the deposit balance, property tax where applicable, the final solicitor or conveyancer balance, registration-style fees and any lender fees not added to the mortgage. Leasehold purchases may also include completion notices, administration charges or other building-related fees. Your solicitor's completion statement should show the final amounts before funds are sent.
Do first-year costs include mortgage payments?
They can if you are building a complete household budget, but the examples on this page exclude mortgage repayments because they vary too much by loan size, rate, term and product choice. Buyers should add their own expected mortgage payments separately. The non-mortgage figures still matter because council tax, utilities, insurance, maintenance and service charges can continue every month after completion.
How much should I budget for furnishing after buying a house?
There is no single safe figure because furnishing costs depend on what you already own, what the property includes and how quickly each room needs to be usable. A practical approach is to split essentials from upgrades. Beds, appliances, curtains or blinds, basic seating and cooking items may be needed quickly, while decorative furniture, garden items and room improvements can often be phased.
What costs do buyers often forget in the first year?
Buyers often forget survey upgrades, bank transfer fees, locksmiths, cleaning, small repairs, immediate furnishings, insurance renewals, maintenance and service charges. The first year can feel tight because several of these costs overlap with the first council tax, utility, broadband and insurance bills. This is why the cost of buying a house in the first year should include both transaction costs and ownership costs.
How can I estimate my own first-year buying cost?
Start with the home buying cost calculator to estimate the purchase total using your property price, nation, buyer type and deposit assumptions. Then add moving costs, furnishing costs and first-year non-mortgage ownership costs such as council tax, utilities, insurance and maintenance. Before relying on the result, check official tax and registration figures and confirm final costs with your solicitor, lender and insurer.
Related guides
Read next
Hidden costs of buying a house in the UK
A detailed guide to the hidden costs of buying a house in the UK, including solicitor fees, conveyancing disbursements, searches, surveys, transfer fees, indemnity policies and the practical extras buyers often miss.
How much money do I need to buy a house in the UK?
Work out how much money you need to buy a house in the UK, including the deposit, upfront fees, property tax, legal costs, surveys, mortgage charges, moving costs and a practical buffer.
Stamp duty explained: UK property tax in plain English
Stamp duty explained UK in plain English, including SDLT, LBTT, LTT, first-time buyer treatment, second-home costs and the main 2026 differences by nation.
Mortgage fees and costs in the UK
A practical guide to mortgage fees and costs in the UK, including broker fees, advice charges, booking fees, arrangement fees, valuation costs, ERCs and exit fees.
Moving costs in the UK
Budget for moving costs in the UK, including removal company prices, packing services, storage, mail redirection, locksmith work, cleaning, broadband and utility connection fees.
Sources and checks
These are the main public sources used for official-rate items and checks on this page. Estimate-led costs remain planning ranges rather than government charges.