This month, housebuilder Barratt and David Wilson Homes revealed the unexpected costs homebuyers in Bedfordshire did not anticipate when moving, adding to the costs of their new home.
The survey conducted by the developer found that residents across the county concluded that estate agent fees were the most unexpected cost, with stamp duty also being a wholly unknown cost when buying a home.
As a consequence, the housebuilder is now preparing residents for extra costs during the home buying process by offering schemes and incentives to keep the costs to a minimum, whilst helping them remember that liaising with interested parties including solicitors and mortgage brokers, monitoring sales, and finding the ideal property all come at a cost.
The survey found that 27% of Bedfordshire homebuyers didn’t expect to pay estate agent fees, and 24% of those surveyed didn’t expect to pay stamp duty.
Jason Hearn, sales director at Barratt and David Wilson Homes South Midlands said “Acting as a one-stop shop for homebuyers, the Movemaker scheme works when individuals reserve their home. They receive a complimentary estate agency service with a free no obligation valuation on the existing home.
We as a homebuilder complete the Movemaker once a selling price has been agreed by the customer and then will pay the estate agents to sell the existing property. It’s a fantastic way to keep costs down and take a back seat in letting us sell the home to ensure a smooth move.
Following the extension to the Stamp Duty holiday, many residents in the county were able to move to our developments as it was a great opportunity to strike when the iron was hot. Not everyone is aware that Stamp Duty is an additional cost so it’s worth buyers familiarising themselves with the term and what it means when they begin their house-buying journey so they’re prepared.
We strive to help our house hunters make an easy move into a brand-new property. That’s why selected homes at our developments come with Stamp Duty already paid, meaning buyers have one less thing to save up for.”
The survey was conducted among 2,098 respondents from the UK. Some were already homeowners, with some being first time buyers, downsizers. The respondents were also employed and/or commuted to work.
Image source: Barratt and David Wilson Homes
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