The Full Cost Timeline: When You Pay What
New build costs don't arrive all at once. They're spread across three phases: before exchange, at completion, and after moving in. Understanding the timeline helps you plan your cash flow.
| Phase | When | Costs | Typical Total Range |
|---|---|---|---|
| Pre-exchange | Weeks 1-8 | Reservation fee, solicitor retainer, mortgage application fee, searches | £1,500 – £4,000 |
| At exchange | Week 4-8 | Exchange deposit (5-10% of purchase price) | £10,000 – £45,000 |
| At completion | Completion day | Remaining deposit, stamp duty, solicitor balance, mortgage fees | £5,000 – £30,000+ |
| Move-in week | Days 1-7 | Removal costs, utility connections, immediate purchases | £1,000 – £5,000 |
| First month | Month 1 | Furniture, appliances, curtains/blinds, garden basics | £2,000 – £15,000+ |
| Ongoing monthly | Every month | Mortgage, council tax, energy, water, insurance, service charges | £800 – £2,500+ |
Phase 1: Upfront Costs Before Exchange
Reservation Fee
Paid when you reserve a plot. Typically £500-£2,000, occasionally more on premium developments. Usually deducted from your deposit at exchange. Check whether it's refundable — under the Consumer Code for Home Builders, it should be reimbursed if you withdraw for reasons beyond your control (e.g., mortgage decline).
Solicitor / Conveyancer Fees
You'll need to instruct a solicitor early, as they need to review the contract pack before you can exchange. Expect to pay an initial retainer of £300-£500, with the balance due at completion. Total conveyancing fees for a new build:
| Service | Typical Cost | Notes |
|---|---|---|
| Solicitor's legal fee | £1,000 – £2,000 | New builds often cost more than standard conveyancing due to contract complexity |
| Local authority searches | £200 – £400 | Required by your mortgage lender |
| Environmental search | £50 – £150 | Checks for contamination, flooding, mining |
| Water and drainage search | £30 – £80 | Confirms connection to mains |
| Land Registry fee | £100 – £300 | Based on purchase price |
| Bank transfer fees | £30 – £50 | For completion day funds transfer |
| Total conveyancing | £1,500 – £3,000 | Some developers offer "free legals" but this often locks you into their preferred solicitor |
Important: Always use an independent solicitor, not one recommended by the developer. The developer's solicitor acts for them, not you. Independent advice costs the same and protects your interests.
Mortgage Costs at Application
| Fee | Typical Cost | Notes |
|---|---|---|
| Mortgage arrangement fee | £0 – £1,999 | Many products are fee-free; higher-fee products often have lower rates |
| Mortgage valuation fee | £0 – £600 | Many lenders offer free valuations for new builds |
| Mortgage broker fee | £0 – £500 | Some brokers charge; many are fee-free (paid by lender commission) |
For a detailed guide on choosing the right mortgage product, see our guide to getting the best mortgage deal.
Survey Costs
For new builds, a traditional homebuyer's survey is usually unnecessary because the property is covered by a structural warranty. However, you should budget for:
- Professional snagging inspection: £300-£500. Essential before completion — identifies defects the developer must fix. See our snagging checklist guide.
- Independent valuation (if concerned about down-valuation): £200-£400. Optional, but useful if buying off-plan.
Phase 2: Costs at Exchange and Completion
The Deposit
The deposit is your largest upfront cost. New build deposits work differently to standard property purchases:
| Deposit Level | Mortgage LTV | On £250,000 Home | On £350,000 Home | Availability |
|---|---|---|---|---|
| 5% | 95% | £12,500 | £17,500 | Available but limited lender choice; higher rates |
| 10% | 90% | £25,000 | £35,000 | Good range of products; competitive rates |
| 15% | 85% | £37,500 | £52,500 | Best rates available from this level |
| 20% | 80% | £50,000 | £70,000 | Lowest rates; strongest position for negotiation |
| 25%+ | 75% or less | £62,500+ | £87,500+ | Best possible rates; maximum lender choice |
For a comprehensive guide on deposits, including strategies to build one faster and how developer contributions work, see our deposit guide for new build buyers.
Stamp Duty Land Tax (SDLT)
Payable at completion on properties in England and Northern Ireland. Scotland uses LBTT; Wales uses LTT.
| Purchase Price Band | Standard Rate | First-Time Buyer Rate | Additional Property Rate |
|---|---|---|---|
| Up to £125,000 | 0% | 0% | 5% |
| £125,001 – £250,000 | 2% | 0% (up to £300,000) | 7% |
| £250,001 – £300,000 | 5% | 0% (up to £300,000) | 10% |
| £300,001 – £500,000 | 5% | 5% | 10% |
| £500,001 – £925,000 | 5% | 5% | 10% |
| £925,001 – £1,500,000 | 10% | 10% | 15% |
| Over £1,500,000 | 12% | 12% | 17% |
First-time buyer examples:
- £250,000 new build: £0 stamp duty
- £300,000 new build: £0 stamp duty
- £350,000 new build: £2,500 stamp duty
- £400,000 new build: £5,000 stamp duty
Standard buyer (not FTB) examples:
- £250,000 new build: £2,500 stamp duty
- £300,000 new build: £5,000 stamp duty
- £350,000 new build: £7,500 stamp duty
- £450,000 new build: £12,500 stamp duty
Phase 3: Moving Day and First Month Costs
These are the costs that catch many new build buyers off guard. New builds are delivered as a blank canvas — no curtains, no light fittings (beyond basic pendants), no flooring in some areas, no garden landscaping.
Moving Costs
| Item | Typical Cost | Notes |
|---|---|---|
| Removal company (local move) | £400 – £800 | 2-3 bed home, same town |
| Removal company (long distance) | £800 – £2,000 | 3-4 bed home, 100+ miles |
| Packing materials (DIY) | £50 – £150 | Boxes, tape, bubble wrap |
| Professional packing service | £300 – £600 | Add-on from removal company |
| Storage (if needed) | £100 – £250/month | If completion dates don't align |
| Cleaning (old property) | £100 – £300 | If renting, required for deposit return |
| Mail redirection | £35 – £68 | Royal Mail, 3-12 months |
Furnishing a New Build: The Real Costs
New build homes arrive with fitted kitchens and bathrooms, but little else. Here's what you'll need to buy:
| Item | Budget Option | Mid-Range | Premium |
|---|---|---|---|
| Curtains/blinds (whole house) | £300 – £600 | £800 – £1,500 | £2,000 – £4,000 |
| Light fittings (replace builder pendants) | £100 – £300 | £300 – £800 | £800 – £2,000 |
| Flooring (if not included) | £1,000 – £2,000 | £2,500 – £5,000 | £5,000 – £10,000 |
| Washing machine | £200 – £350 | £400 – £600 | £700 – £1,200 |
| Fridge-freezer | £250 – £400 | £500 – £800 | £900 – £2,000 |
| Sofa (living room) | £400 – £800 | £1,000 – £2,000 | £2,500 – £5,000 |
| Bed frame and mattress (per bedroom) | £300 – £500 | £600 – £1,200 | £1,500 – £3,000 |
| Dining table and chairs | £150 – £400 | £500 – £1,000 | £1,200 – £3,000 |
| Garden basics (mower, tools, plants) | £200 – £500 | £500 – £1,000 | £1,000 – £3,000 |
| Turf/fencing (if not included) | £500 – £1,500 | £1,500 – £3,000 | £3,000 – £6,000 |
Total furnishing costs:
- Budget (essentials only): £3,000 – £6,000
- Mid-range (comfortable): £8,000 – £15,000
- Premium (everything at once): £15,000 – £35,000+
Tip: You don't have to buy everything at once. Prioritise the essentials — beds, sofa, washing machine, blinds for bedrooms — and add the rest over time. Many new build buyers spread furnishing costs over 6-12 months.
Other First-Month Costs
| Item | Typical Cost |
|---|---|
| Broadband installation/setup | £0 – £50 |
| TV licence | £169.50/year |
| Contents insurance (first year) | £100 – £300 |
| Buildings insurance (if not via mortgage) | £150 – £400 |
| Locksmith (change locks — optional but recommended) | £100 – £200 |
| Address changes (DVLA, bank, etc.) | Free but time-consuming |
Phase 4: Ongoing Monthly Costs
Once you're in, these are the costs you'll pay every month (or year). Understanding these is critical for budgeting your real monthly outgoings.
| Cost | New Build Apartment | New Build 3-Bed Semi | New Build 4-Bed Detached |
|---|---|---|---|
| Mortgage (indicative, 4.5%) | £900 – £1,200/mo | £1,200 – £1,600/mo | £1,600 – £2,200/mo |
| Council tax | £100 – £170/mo | £150 – £220/mo | £200 – £350/mo |
| Energy (gas + electric) | £65 – £90/mo | £80 – £110/mo | £100 – £140/mo |
| Water | £25 – £40/mo | £30 – £50/mo | £35 – £60/mo |
| Buildings insurance | £15 – £30/mo | £20 – £35/mo | £25 – £45/mo |
| Contents insurance | £10 – £20/mo | £15 – £25/mo | £20 – £35/mo |
| Service charge | £125 – £350/mo | £0 – £50/mo | £0 – £50/mo |
| Broadband | £25 – £50/mo | £25 – £50/mo | £25 – £50/mo |
| Maintenance fund | £25 – £50/mo | £30 – £60/mo | £40 – £80/mo |
| Total (excl. mortgage) | £390 – £800/mo | £350 – £600/mo | £445 – £810/mo |
| Total (incl. mortgage) | £1,290 – £2,000/mo | £1,550 – £2,200/mo | £2,045 – £3,010/mo |
For detailed breakdowns of each cost category, see our dedicated guides on council tax for new builds, utility bills and running costs, and service charges explained.
Worked Budget: First-Time Buyer — 2-Bed Apartment at £250,000
| Category | Cost |
|---|---|
| Upfront costs | |
| Deposit (10%) | £25,000 |
| Stamp duty (FTB) | £0 |
| Solicitor and searches | £1,800 |
| Mortgage arrangement fee | £999 |
| Snagging inspection | £350 |
| Reservation fee (deducted from deposit) | £500 (included in deposit) |
| Total upfront | £28,149 |
| Moving and furnishing | |
| Removal company | £500 |
| Blinds and curtains | £500 |
| Washing machine | £350 |
| Fridge-freezer | £400 |
| Bed and mattress | £600 |
| Sofa | £700 |
| Other essentials | £500 |
| Total moving/furnishing | £3,550 |
| Monthly ongoing | |
| Mortgage (90% LTV, 4.5%, 30yr) | £1,140 |
| Council tax (Band C) | £150 |
| Energy | £75 |
| Water | £30 |
| Service charge | £165 |
| Insurance (buildings + contents) | £35 |
| Broadband | £30 |
| Total monthly | £1,625 |
| Total cash needed to move in | £31,699 |
A first-time buyer purchasing a £250,000 apartment needs approximately £31,700 in cash to cover the deposit, fees, and essential furnishing — plus a monthly income that comfortably supports £1,625 in housing costs.
Worked Budget: Family — 3-Bed Semi at £320,000
| Category | Cost |
|---|---|
| Upfront costs | |
| Deposit (10%) | £32,000 |
| Stamp duty (not FTB) | £6,000 |
| Solicitor and searches | £2,000 |
| Mortgage arrangement fee | £999 |
| Snagging inspection | £400 |
| Total upfront | £41,399 |
| Moving and furnishing | |
| Removal company | £700 |
| Curtains and blinds | £1,000 |
| White goods (washer, fridge, dryer) | £1,200 |
| 3 beds and mattresses | £2,000 |
| Sofa and dining set | £1,800 |
| Garden (mower, tools, basics) | £500 |
| Turf and fencing (if not included) | £2,000 |
| Other furnishing | £1,500 |
| Total moving/furnishing | £10,700 |
| Monthly ongoing | |
| Mortgage (90% LTV, 4.5%, 25yr) | £1,600 |
| Council tax (Band D) | £185 |
| Energy | £95 |
| Water | £40 |
| Service charge (estate) | £30 |
| Insurance | £40 |
| Broadband | £35 |
| Total monthly | £2,025 |
| Total cash needed to move in | £52,099 |
Worked Budget: Upgrader — 4-Bed Detached at £450,000
| Category | Cost |
|---|---|
| Upfront costs | |
| Deposit (15%) | £67,500 |
| Stamp duty | £12,500 |
| Solicitor and searches | £2,500 |
| Mortgage arrangement fee | £999 |
| Snagging inspection | £450 |
| Total upfront | £83,949 |
| Moving and furnishing | |
| Removal company | £1,200 |
| Curtains, blinds, light fittings | £2,500 |
| Appliances | £1,500 |
| Bedroom furniture (4 rooms) | £4,000 |
| Living and dining furniture | £3,000 |
| Garden (turf, fencing, planting, tools) | £3,000 |
| Garage storage and shelving | £300 |
| Total moving/furnishing | £15,500 |
| Monthly ongoing | |
| Mortgage (85% LTV, 4.5%, 25yr) | £2,127 |
| Council tax (Band E/F) | £250 |
| Energy | £120 |
| Water | £50 |
| Service charge (estate) | £35 |
| Insurance | £55 |
| Broadband | £40 |
| Total monthly | £2,677 |
| Total cash needed to move in | £99,449 |
Costs That Catch New Build Buyers Off Guard
These are the expenses that don't appear in most buying guides but affect real buyers:
| Hidden Cost | Typical Amount | Why It's Missed |
|---|---|---|
| Flooring (not always included) | £1,500 – £6,000 | Show homes have flooring throughout; your home may have bare subfloor in bedrooms and living areas |
| Turf and fencing | £1,000 – £4,000 | Garden may be delivered as bare soil with temporary fencing |
| Window coverings | £500 – £2,500 | No curtains or blinds provided — you'll have no privacy on night one without these |
| Light fittings | £100 – £800 | Builder-grade pendant fittings in every room; most people replace them |
| TV aerial / satellite dish | £100 – £250 | Not always installed; depends on development specification |
| Garage shelving and storage | £100 – £500 | Garages delivered empty with no storage solutions |
| Driveway sealing (block paving) | £200 – £600 | Block paving should be sealed; developers don't always do this |
| Additional keys cut | £30 – £100 | You'll typically receive 2 sets; families often need more |
| Settling cracks and redecoration | £200 – £500 | New builds settle in year 1, causing hairline cracks that need filling and repainting |
| Mortgage product fee (if added to loan) | £999 + interest | Adding the fee to your mortgage costs more over the term than paying it upfront |
How to Reduce Your Total Costs
Negotiate Developer Incentives That Matter
Prioritise incentives that reduce actual costs you'd face anyway:
- Flooring throughout — saves £2,000-£6,000
- Turf, fencing, and landscaping — saves £1,000-£4,000
- Stamp duty contribution — saves the full SDLT amount
- Upgraded kitchen appliances — saves replacement cost later
- Deposit contribution — reduces upfront cash needed (but doesn't reduce price)
Reduce Ongoing Costs
- Switch energy supplier after move-in: The developer's default tariff is rarely the cheapest. Use a comparison site within the first month.
- Challenge your council tax band: New build banding is done before completion and is sometimes incorrect. You can challenge within 6 months — see our council tax guide for details.
- Shop around for insurance: Don't accept the first quote. New builds are low-risk, which should be reflected in your premium.
- Meter readings on day one: Take gas, electric, and water meter readings on completion day to avoid being charged for the developer's usage.
The Budget Checklist
Use this checklist to ensure you've budgeted for every cost.
| Category | Item | Budgeted? |
|---|---|---|
| Pre-exchange | Reservation fee | |
| Pre-exchange | Solicitor retainer | |
| Pre-exchange | Mortgage application/arrangement fee | |
| Exchange | Exchange deposit (5-10%) | |
| Completion | Remaining deposit balance | |
| Completion | Stamp duty | |
| Completion | Solicitor balance and disbursements | |
| Completion | Snagging inspection | |
| Moving | Removal company | |
| Moving | Mail redirection | |
| Furnishing | Blinds/curtains (essential for privacy) | |
| Furnishing | Flooring (if not included) | |
| Furnishing | Appliances (washer, fridge-freezer) | |
| Furnishing | Beds and mattresses | |
| Furnishing | Sofa and seating | |
| Furnishing | Garden (turf, fencing, mower) | |
| Ongoing | Mortgage payment | |
| Ongoing | Council tax | |
| Ongoing | Energy bills | |
| Ongoing | Water bills | |
| Ongoing | Buildings and contents insurance | |
| Ongoing | Service charges (if applicable) | |
| Ongoing | Broadband | |
| Emergency | Buffer fund (3 months' mortgage payments) |
Related Guides
- How Much Deposit Do You Need for a New Build? — deposit sizes, strategies, and developer contributions
- Council Tax on New Build Homes — how banding works, exemptions, and how to challenge your band
- Utility Bills and Running Costs — detailed breakdown of energy, water, insurance, and maintenance
- Service Charges Explained — what they cover, how much they cost, and how to challenge them
- Are New Build Homes More Expensive? — total cost of ownership analysis over 10 and 25 years
- Getting the Best Mortgage Deal on a New Build — rates, fees, and the true cost of borrowing