Picture the scene. You’ve saved as much money as you can, and now you have enough to put down a deposit for your dream home in Bolton & Bury, based on the property price.
Then suddenly, you realise that moving house costs much more than you first thought.
The upfront costs can be incredibly demotivating when they hit you from out of the blue. But you can avoid this nasty shock by understanding what costs you will have to pay beforehand.
Here, Cardwells Estate Agents will provide you with an insight into all the moving costs that you need to be aware of.
House Moving Costs
The Legal Costs
First off, the legal stuff.
Aside from the actual cost of the house and the mortgage repayments, one of the first things to do is think about the legal fees, as they can have a significant impact on the cost of moving house.
Conveyancing companies and solicitors are the ones who focus on property. Many have almost instant conveyancing quotes on their website. You will need to key in basic financial figures, and they’ll tell you roughly how much it will cost in legal fees. We can help you find a solicitor. Simply complete the form here.
They will also look at searches that will be needed, such as local authority searches, existing planning permissions and specific things such as mining reports and building regulations.
Your legal people should also highlight other costs, such as the Land Registry fee, which comes in when the property is registered in your name.
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 the importance of accurate pricing. The cheapest fee doesn’t necessarily mean the best service! Call us on 01204 381281 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.
House Removal Costs
If you’re lugging a lot of furniture from your old house to your new one, chances are that you will need a removal company to help you, even if you already live in the Bolton & Bury area.
The cost of this will vary because removal companies will calculate such things as how many bedrooms, the distance between houses, and whether specialist services are required.
It could be as little as £400 to well over £1,000. We advise that you decide precisely what you need and then shop around to get quotes and see what the customer service is like. Have a look at online review sites, too, as these could give you a good indication of how good a company is.
At Cardwells Estate Agents we are well-respected and experienced estate agents in Bolton & Bury, and we can also help our customers find the ideal removal company.
And don’t forget about pesky storage costs if there is a gap between moving out of your current home and moving into your new house.
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’.
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.
At Cardwells we can help by introducing you to our independent financial advisers who will:
- Find the mortgage that best suits your circumstances by searching the whole of the market.
- Help you budget by reviewing your current and future costs making sure that your purchase is affordable.
- Help you choose the right level of protection for your mortgage and lifestyle.
- Be one point of contact through the entire mortgage process.
Home Insurance
When you’ve completed, you’ll quickly 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 the 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. Each purchase has a different property value, possessions, and other factors. The key is to do your research and get everything in place before the day! Then it should be a case of pressing the button.
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 a home in Bolton & Bury please contact our expert property team. Email [email protected] or call us on 01204 381281.
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?
Downsizing 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 belongings during the relocation.
Are there hidden costs associated with moving?
Some potential hidden costs include packing materials and additional fees for bulky items. There may also be 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 ground rent when purchasing a flat.
