Cost of Moving House


Everyone recognises that houses are expensive and a large investment, but there are a huge number of other costs involved in moving home that you need to be aware of while you are still planning. From stamp duty to estate agents and surveyor fees to the cost of removal services, it can all add up. But how much does it cost to move house? Research in 2015 estimated the average total cost to be around £12,000 if you’re buying a new home and selling your old one.

Aside from the actual cost of the house, and the deposit that you have been saving up for, there are a lot of additional costs.

The largest of the costs is likely to be Stamp Duty (there is a similar tax in Scotland called Land and Buildings Transaction Tax). You will usually pay around £2,000 for this, though it will depend on the price of your property.

Next largest are your mortgage fees. With booking fees of £100-£250, an arrangement fee of around £1,000, and a mortgage valuation fee of around £150 this can be an expense that many people forget to plan for.

Legal fees can also be pretty expensive, and you can expect to pay around £1,200 for conveyancing along with local searches and land registry fees.

In addition to these you will have surveyor’s fee of £250 to £600 (in Scotland the seller provides this), a transfer fee of £50 for paying the amount through your solicitor, and home insurance that your mortgage will likely require.

This all means that you might need to budget nearly £5,000 on top of the house price depending on size and price of your purchase.

The largest cost of selling your house is generally the estate agents fees. They charge between 1-3% of the sale price plus VAT which is paid by the seller. Of course, this means that they are motivated to get a high price – though this price does cause some people to advertise online and show their homes themselves.

Depending on how long you’ve owned your house, the next largest cost could be Capital Gains Tax. This is a tax on any profit you’ve made from your home if that profit is over £11,000. This can be 18%-28% depending on the area and the profit is based on the price of the property when you bought it.

Another big cost involved is conveyancing costs, which is the cost involved in transferring the legal title of the property from one person to another. This can range between £525-£910 depending on your property

If you live in Scotland then you will have to pay for a Home Report before you put your home on the market. This can cost between £500-700 plus VAT and gives you a good valuation as well as highlighting any issues that might reduce the price. It also includes an Energy Performance Certificate for the property.

All properties now need an Energy Performance Certificate before you can sell them, these generally cost around £60-£120 depending on local assessor.

This means that the cost of selling your house can easily reach £6000, again depending on size and value, so you should definitely budget for these costs when planning your move.

The main cost for the actual move is always going to be in hiring a removals service. Generally, this can cost between £300-£1000 and for moving out of a three-bedroom house you can expect to pay around £600.

The average repair bill for new homeowners is £5,750 though any repairs needed should have been highlighted on the survey or home report so this cost shouldn’t come as a surprise after you’ve bought the property.

Another small cost that you should watch out for is leaseholder’s costs. If you bought leasehold then you will have to pay £50-£100 per year in ground rent from the freeholder.

With all these costs involved it’s easy to see how the cost of moving could reach £12,000 or over. To properly budget for your new home then you should definitely factor these costs in when picking out your dream home.

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