Hidden Costs of Buying Your First Home 🏡 | Moneywise Doctor

There's a bit more. There's other things to look at. If you're going to buy your first house, your deposit is not all the expense, and there are some little costs that people tend to not look at and it suddenly comes out from the blues. For some people, there could be broker fees, lenders fees, valuation fees, conveyancing fees, and all little expenses that you might make along the way. So make a plan for this one as well. So don't only think about the deposit. Now the next thing. Agreement in principle. Agreement in principle. I hear a lot. How can I get an agreement in principle? Or it's also called decision in principle? Well, it's not that difficult, actually. If you determine your budget and you're ready to go, you can either walk through your mortgage advice or you can go online yourself to get an agreement in principle. Remember, even if you get it from any bank or anywhere, you don't necessarily have to use that same one. What it is basically an agreement in principle. It is sort of like a gentleman's agreement.