Buying a home may cost £30,600 more than you think
Filed under: Property, House and Home, Budgeting & Planning
You've finally got your hands on your dream home - or at least one that looks vaguely inhabitable. But as soon as you move in and start decorating and furnishing your new abode you soon realise that the bills just keep rising.In fact, unforeseen costs mean that buying a home costs up to £30,600 more than people thought and lands many with long-term debt. How do you avoid getting into a financial mess?

The Bank of England base rate is widely expected to remain at 0.5% for the 18th consecutive month this week, but that doesn't mean that you can just sit back and relax – especially if you are on a variable-rate mortgage.
Homeowners who bought houses and flats at the peak of the market may face four more years of negative equity, according to the National Housing Federation (NHF).
Competition in the fixed-rate mortgage market is increasing, giving homeowners and buyers keen to protect themselves from higher interest rates some attractive new offers to choose from.
The arrival of A-level results marks the scramble to fill university places across the UK.
Banks are officially taking us for a ride. Two separate studies out today have revealed the yawning gulf between what it costs banks to offer us mortgages and credit cards, and the astronomical rip-off costs they charge us for them.
Who doesn't dream of a second home?
More than one million people who bought a property between 2005 and 2009 did so with an interest-only mortgage, and no repayment vehicle. When it comes to remortgaging these properties, homeowners face a potential nightmare.
HSBC has launched its lowest ever rate on a five year fixed rate mortgage, at 3.95%. It comes with the usual caveats of the competitive mortgages at the moment - such as a maximum loan-to-value of 60%, and a booking fee of £599. However, it is an important step for the market.
We're wising up to the new reality of falling houses. Recent figures from Zoopla show that almost a third (32%) of properties on the market have had their asking price reduced at least once since they were first listed.
Finance, rather than flatpack furniture, is one of the most baffling aspects of modern life, with many people utterly confused about pensions and mortgages - while they find credit cards relatively easy to understand.
Nine out of 10 mortgage products are currently available direct from lenders - whereas traditionally mortgage brokers have had the pick of the best deals on the market.
If the latest
In the midst of our tough housing market, sellers need to pull out all the stops to attract potential buyers. This means sprucing up the garden, hiding the clutter and preparing what to say when showing your property.
