The costs incurred in buying or selling a property can be considerable. Here are our top tips for cutting them down to size.

1. Stick to a sole agent

If you're selling a property, it can be tempting to instruct more than one agent. But by doing so you are likely to drive up the agent's fee – in some instances by an additional 1 per cent of the total sale price. Stick to a sole estate agent on a £1 million property, for example, and you could save £10,000.

2. Reduce legal fees

Buyers can save up to 25 per cent on legal fees by using a conveyancer rather than a specialist property solicitor. However, it’s crucial to make sure you have a reliable person to act on your behalf and never be swayed by the lowest quote.

3. RICS HomeBuyer Report

If your purchase is a conventional property in reasonable condition, you can save money by opting for a RICS HomeBuyer Report rather than a more expensive full mortgage survey.

4. Negotiate white goods

If you're buying a property, try to negotiate white goods or fixtures and fittings into the sale. Securing some essentials, such as the fridge freezer, a radiator cover, or a bespoke pair of curtains could save you a £1, 000 or more in the long run.

5. Removal services

Don't underestimate the cost of removal services. You can cut costs by doing your own packing. Some removal companies also offer cheaper rates mid-week.

Further information

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