3 Common Expenses to Budget for with a New Home

Buying a home is an expensive business. Not only do you need to find enough money to pay for a deposit, but you’ll need to budget for conveyancing fees, stamp duty land tax (if applicable), removal costs, and various out of pocket expenses. By the time you collect the key from the agent, your bank account is likely to be sorely depleted!

But that’s probably only the start of your spending commitments. Chances are unless you are super lucky, the house you just bought comes with a few issues and must-fixes. Hopefully nothing too serious, but it’s best to budget for a few common expenses when you move in.

New Locks on the Doors

It is always wise to replace locks on a house when you move in. You never know if the previous owner kept a spare key and or gave one to an ex. The last thing you need is a stranger poking around your new house while you are out picking up supplies.

Even if you are not concerned about the possibility of spare keys floating around, are the exterior doors secure? Older doors may have outdated hardware and not be as secure as they could be. Door locks older than 2012 are vulnerable to a technique called ‘lock bumping’ whereby burglars use master keys freely available online to bump the pins inside the lock cylinder.

Check the faceplate on your exterior doors – the most secure locks are rated to BS3621. Modern composite and 5-point locking UPVC doors are also very secure.

A New Boiler

Boilers have a nasty habit of dying shortly after a new resident moves in. Unless the central heating boiler is less than five years old, budget for a replacement. Older boilers are more prone to breakdowns and parts are often hard to source. It is also worth bearing in mind the fact that older boilers are less energy efficient. Therefore, although fitting a new boiler is an up-front expense, it will save you money in the long run.

You can find out a typical boiler replacement cost from Type in your postcode and see how much it would cost to have a new boiler installed. The site shows you suitable boilers and you can even choose the installation date that suits you best.


It is only natural to want your new home to fit your style. Unless the property is a new-build and the developer has painted every room in neutral cream and fitted floor coverings of your choosing, it’s likely you’ll have to deal with some unpleasant colour schemes and flooring choices.

Budget for some redecoration costs, in particular, new floor coverings if the old ones are old and worn. Paint isn’t too expensive, so unless you have expensive taste, you won’t need to spend a fortune.

Always put some money aside for unexpected costs when you buy a new home. Even if you had a full survey done, there is no guarantee that you won’t discover a damp patch or a section of dodgy guttering. It’s all part of the fun of homeownership!