Additional Costs That Have Incurred During This Project So Far

18 Feb 2007

Fortunately, I left a little pot on the side for contingency costs. A few additional costs did pop up during the purchase, and I think it’s important that people realise that costs ALWAYS pop up, so it’s always sensible to keep a little on the side. You need to monitor all costs, regardless of how minor they may seem, because things tend to spiral out of control once you start to relax. Also, it will give you a more accurate idea of how much your investment is actually costing you.

Granted, the additionals didn’t add up to too much, it could have been a lot worse; I’ve been lucky for now. Of course, more costs could add up, my project is far from over.

I just want to highlight the act that every penny adds up, even minor details like sending documents through special delivery to your solicitors.

So far, here is a list of my unforeseen costs:

• £20.00 for a new driving license that my Conveyancing Solicitor lost (even though they deny it)
• £4.50 for Special Delivery post to my Conveyancing Solicitor
• £25.00 fee for transferring money electronically. Halifax changed £25.00 for transferring my deposit into my Solicitor’s account. I thought that was ridiculous. Anyways, I could have got a banker’s draft for free, but it would have held up the exchange in contracts by the time the draft arrived to my solicitors and cleared.

Like I said, not much for now, but it’s all relevant, and it will all eventually add up. I’m still not entirely sure if I will need to spend any money on the actual property it’s self- it’s been so long since i’ve been inside it. I remember it being in excellent condition, so hopefully I’ll get away with spending a bare minimum.

Attention! If you're new here, you may want to subscribe to my RSS feed so you're notified of all new blog entries.

Talk / 0 Comments, Be The First