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Other expenses include stamp duty, or transfer tax.
Don't forget to include stamp duty and any fees in your calculations – you may need to pay a buyer's premium on top of the hammer price and there is an administration fee of around £150 to pay the auctioneer.
The OC will not include stamp duty, which is payable when buying shares in investment trusts, nor any performance or success fees that some managers charge if their investment strategy is successful.
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His hobbies included stamp collecting.
Devolution of property tax receipts, including stamp duty and business rates, would take that figure to around 12%.
The average new mortgage there is 110% of the value of a home, because lenders are happy to finance all the purchasing costs, including stamp duty and fees.
Convention center officials are now projecting 200 national, regional and local conventions, trade shows and meetings in the first year, with 250,000 visitors expected, including stamp collectors, fencers and math teachers, Shriners, Asian-American hotel owners and two Muslim groups.
Danny Cox, from independent financial adviser Hargreaves Lansdown, says: "Prices aren't rising everywhere and transaction costs to buy are very high, including stamp duty, legal fees and estate agents' fees.
But the Neath MP said he was in favour of devolving some taxes, including stamp duty and air passenger duty.
It will also devolve powers over a range of other taxes, including stamp duty, land tax and landfill tax.
He has appointed a special ambassador on human rights, Mariclaire Acosta, whose portfolio includes stamping out the practice.
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