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Worth considering home-making costs in mortgage calculations

Date: Wed, 20 Apr 2005

The cost of furnishing a new property should be considered in mortgages calculations, according to Halifax Estate Agents.

It is estimated that the average cost of turning a house into a home could reach £8,000 as homeowners purchase the basics such as beds and cookware.

Some first-time buyers find that after paying deposits, legal fees and stamp duty, there is little left over and they should prioritise their purchases.

Colin Kemp, managing director at Halifax Estate Agents, said: "As a general rule when you move into a new house you need something to sleep on, something to sit on, basic cooking and washing facilities and something to eat from.

"But most people want their new home to look and feel great from day one and so the list of 'essentials' tends to grow substantially."

Consumers are being advised to shop around for the best deals to help reduce the set-up costs of buying a home.

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