Imagine the scene: you've put in the hours, been disciplined with your savings, and finally reached a point where you have enough to put down a deposit on that dream home. You’re excited, thinking about the place you’ll soon call your own. But then reality hits - you start uncovering the additional costs of moving, and they’re higher than you expected.
House Moving Costs
The Legal Costs
Let's start with the legal side of things.
Beyond the property price and the mortgage repayments, it’s crucial to consider the legal fees, as they make up a significant portion of moving costs. These fees cover essential tasks that ensure your purchase is legally sound and that all necessary checks are in place.
Conveyancing companies and solicitors are specialists in property transactions, handling the legal aspects of buying your new home. Many offer quick, online conveyancing quotes, which allow you to enter your basic financial information for an upfront estimate on their fees. This service provides you with a general idea of how much to budget for these costs.
Your conveyancer will also conduct various property searches to uncover important details, such as local authority searches to verify planning permissions or restrictions. Other searches may include mining reports, flood risk assessments, and building regulations compliance. These searches are vital for identifying any potential issues with the property or surrounding area.
Additionally, your conveyancer will make you aware of other essential costs, like the Land Registry fee. This fee is required to officially register the property in your name once the sale completes, making your ownership official in the eyes of the law.
Estate Agent Fees
If you're selling your house, then your estate agents' costs will need to be factored in. Fees will vary, and it's important to remember that the cheapest fee doesn't necessarily mean the best service! Call The Property Experts on 0330 179 8180 to speak with us about our services. Our dedicated team have the experience and passion to guide you through the process of selling your property so that you achieve the sale price you deserve.
House Removal Costs
If you're planning to move a substantial amount of furniture and belongings from your old home to your new one, you’ll likely need the help of a professional removal company. They can handle the heavy lifting, transportation, and logistics, making the moving process much smoother.
The cost for a removal company can vary widely. Companies typically base their quotes on several factors, such as the number of bedrooms in your current home, the distance between your old and new properties, and whether any specialised services - like packing, handling fragile items, or dealing with challenging access - are required. This means the price can range from around £400 for smaller moves to well over £1,000 for larger or more complex ones.
To get the best value, it’s wise to first assess your exact needs. Think about how much help you need, whether you want the company to handle packing, or if you have items that need special care. Once you have a clear idea, shop around for quotes. Check out a few companies and see what kind of customer service they offer. Online review sites are also a valuable resource; they can give you insights into the company’s reputation and the quality of their services based on the experiences of past customers.
Additionally, if there’s a delay between moving out of your current home and moving into your new one, remember to factor in storage costs. Many removal companies offer short- and long-term storage solutions, so consider this when planning your move.
At The Property Experts, our team is well-regarded and experienced in helping clients find reliable removal companies. We have a whole network of connections and are here to support you in finding the ideal fit for your needs.
Stamp Duty
If you buy a property or land in England that's over a certain price (currently properties over £250,000), you have to pay Stamp Duty. How much you pay depends on several factors, but you should expect to pay a certain percentage of the value of the property as below:
| Up to £250,000 | Zero |
| The next £675,000 (from £250,001 to £925,000) | 5% |
| The next £575,000 (from £925,001 to £1.5 million) | 10% |
| The remaining amount (above £1.5 million) | 12% |
For example, if you are moving home and purchasing a £500,000 property, this would mean a Stamp Duty payable of £12,500. There are a number of websites that offer a Stamp Duty Calculator , and the Government website www.gov.uk will tell you what it's all about. If you need help, we can help you work out how much to 'set aside'. First time buyers are currently exempt on property purchases up to £425,000.
Mortgage Costs
Most people will have to obtain a mortgage to buy a house. Rates and payments will vary depending on the lender, but there are a number of typical costs associated with a mortgage.
There will be booking fees and arrangement fees, and because the lender will need to know the value of a property, you'll need to arrange for an independent valuation, too.
Booking fees can be between £150 and £300, arrangement fees might be around £2,000, and a mortgage valuation fee could be anywhere between £150 and £1,500, depending on the lender and the property. It's worth noting that low rates might not mean low fees, so be careful to look at the details.
We can help you with this too! The Mortgage Experts have access to over 12,000 mortgage products from 90+ lenders, so we can help find the right deal for you.
Whether you are looking to buy a property or remortgage your existing home, The Mortgage Experts are here to help. Your first step on this journey is to understand your options, what you can borrow and what the costs are likely to be. Speak to a broker today to start your journey! Call 0333 1883 480.
Home Insurance
On completion day, you'll finally get the keys. It's an exciting time, and you'll have packed everything, the removal van will be ready, and you probably can't wait to get into your new home.
Something you need to do straight away, though, is sort out home insurance. Once the property is yours, it needs to be insured.
You'll need building insurance to cover the bricks and mortar and contents insurance, too, as this will cover your belongings and possessions.
The cost of this will vary because no two properties are the same, and each purchase has a different property value, possessions, and other factors. The key is to do your research and get everything in place ready for exchange of contracts, and then you'll be set to go on moving day.
Final Thoughts on Estate Agents Fees and Other House Moving Costs
As you can see, even when you get a great deal on your property compared to the average UK house price, there are still many other costs to consider, depending on your circumstances.
The good news is that we can help! For no-obligation advice on buying or selling your home please contact our expert property team via email at hello@thepropertyexperts.co.uk or call us on 0330 179 8180.
In the meantime, we've answered your common questions about moving home costs.
Frequently Asked Questions About House Moving Costs
What factors influence house moving costs?
The distance of the move, the volume of belongings, and additional services like packing contribute to the overall cost.
Are there ways to reduce moving expenses?
Decluttering your possessions, scheduling a mid-week move, and obtaining multiple quotes from moving companies can help cut costs.
Do moving companies provide insurance for belongings?
Yes, reputable moving companies typically offer various insurance options to protect your belongings during the relocation.
Are there any other costs associated with moving?
Some potential other costs include packing materials, additional fees for bulky items, and charges for delays or changes in the moving schedule. It is also worth checking whether your council tax band will change or if you need to pay a ground rent when purchasing a flat.
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