First-time buyers now face an average upfront cost of just under £33,000 to purchase a home, rising by over £1,000 (3%) compared to 2024, report by Compare My Move reveals.
The report outlined the costs involved in buying a house in 2025.
The largest upfront cost was found to be the deposit, which averages £29,200 based on an average house price of £292,000.
Conveyancing solicitors ranked as the second most expensive cost at £1,743, up 13% from 2024.
Surveying costs have also risen, with valuation fees experiencing a significant increase of 45% to an average of £452.
Other costs included property surveys averaging £488, removal company fees at £1,044, and postal redirection charges amounting to £40.
Dave Sayce, founder and managing director of Compare My Move, said: “The deposit is the biggest upfront cost when buying your first home.
“While a 10% deposit is common, many mortgage providers offer options with just a 5% deposit – saving you around £14,600 based on the average house price.”
Sayce said that some lenders provide mortgages with little or no deposit but typically require a guarantor, increasing the overall mortgage costs in the long run.
Sayce added: “Conveyancing is the second biggest expense when buying a home.
“While it’s a crucial part of the process, you do have the option to handle it yourself.
“However, conveyancing is complex, time-consuming, and requires thorough research – so DIY conveyancing, while possible, isn’t recommended.”
