Overview
Buying a home costs far more than the deposit. This true cost of buying a house calculator adds up everything: the deposit, property tax (Stamp Duty in England & NI, LBTT in Scotland, LTT in Wales), mortgage and legal fees, searches, a survey, removals and furnishing — then the first year of running the home. Enter your figures and choose your nation and buyer type to see the cash you need before completion, a recommended budget with contingency, and your total first-year cost, grouped so you can see exactly where the money goes.
How it's calculated
We total the costs in groups and calculate the property tax for your nation and buyer type automatically:
- Cash before completion — deposit, property tax, mortgage fees, legal fees, searches and survey.
- Recommended budget — the above plus moving and furnishing, with a contingency buffer on top.
- First-year total — everything above plus 12 months of mortgage payments, council tax and insurance.
Property tax uses the correct system for where you're buying, including first-time buyer relief and the additional-property surcharge where they apply.
Cash before completion = deposit + property tax + mortgage fees + legal + searches + survey
First-year running cost = 12 × (mortgage payment + council tax + insurance). The mortgage payment is estimated from your deposit, rate and a 25-year term.
Worked example
A first-time buyer in England purchasing at £300,000 with a £30,000 deposit:
| Stamp Duty (first-time buyer) | £0 | relief to £300k |
|---|---|---|
| Cash before completion | ≈ £33,550 | |
| Recommended budget (10% buffer) | ≈ £41,100 | |
| First-year total cost | ≈ £57,900 |
Even with no Stamp Duty to pay, this buyer needs around £33,550 in cash before completion — and roughly £57,900 across the whole first year once mortgage payments, council tax, insurance, moving and furnishing are counted. Planning for the full picture avoids nasty surprises.
Current rates & key facts
Property tax by nation (first-time buyer relief)
| Nation | Property tax | First-time buyer relief |
|---|---|---|
| England & N. Ireland | Stamp Duty (SDLT) | 0% up to £300,000 |
| Scotland | LBTT | 0% up to £175,000 |
| Wales | LTT | No first-time buyer relief |
Additional properties carry a surcharge (SDLT +5%, Scotland ADS 8%, and higher rates in Wales). Legal, survey and removal costs vary widely — always get quotes.
Last updated 1 July 2026 · Source: GOV.UK / Revenue Scotland / GOV.WALES — property transaction taxes