Whether you buy a new home or an old one, you will have to factor in certain extra costs – and it is surprising how often these are radically underestimated, says Lanice Steward, MD of Anne Porter Knight Frank.

Buyers, said Steward, are often reluctant to recognise that this initial expenditure will be necessary, especially as financially the benefit will not be apparent until many years later when they come to sell the home or when a new garden has matured.

“On a new home,” she said, “especially one bought off plan, items such as curtain and towel rails, and security arrangements, garden plants, trees, lawns, swimming pool equipment, additional electrical points, new partitions or carports - and the like - can easily add 5% to the initial outlay.

"On an old home, the buyer may well be able to be able to take over an established garden, but there are likely to be many features and fittings which are not to his liking and will need changing. New electrical conduits for TV cables and internet may also have to be installed and paintings, waterproofing, reroofing, new cupboards may often be needed.

"The message we at APKF have to give, therefore, is that some extra costs at the outset are likely to be unavoidable - but try not to gear yourself to pay for these. Bonds, even at today’s rates, should be avoided. Whatever has to be done, do it slowly and try to pay cash."