There is no doubt about it, selling your property and moving into a new one is not an easy chore. When making a list of all the things you need to do, it can seem a very daunting task. From puttin your property on the market all the way to moving into your new home.
It can all seem impossible, especially when trying to work out all the costs that come with a move.
The Costs involved with Buying a Home
If you are just buying a property, then these can be different costs to buying and moving. Compare My Move believe that the average costs are:
- Stamp Duty – £2,021
- Valuation Fee – £227
- Conveyancing – £580
- Property Surveyors – £400
This would make the average property buying total £3,228.
The Costs involved with Selling a Home
There aren’t as many areas to cover when selling your home, but there are more expensive fees. Estate Agents can be expensive, especially getting the correct one that will help you get moving quickly. Compare My Move believe the average cost for an estate agent is £3,391, an EPC costs £80 and conveyancing is around £950. This therefore makes the total selling cost £4,421.
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What other costs may I have to pay when moving?
Inevitably, you will have to pay to have your post redirected. This is usually £43.99.
Removal companies aren’t always cheap. You can either do it yourself (which is the cheaper option) or hire a company to help you move in. The average cost for a removal company is usually £1,192.67
What are the different things I would need to cover to sell my home?
To sell your property you will need to make sure you cover the following:
- Stamp Duty Costs
- Deposit on the property
- Valuation fees
- Estate Agent Fees
- Capital Gains Tax (if applicable)
- Removal Company
- Mail Redirection
What is the average cost?
According to Compare My Move, the overall average cost of buying selling and moving home in 2019 is £8,885.66.
This figure includes fixed costs (for example postal redirection) and estate agents fees with house removals.
Obviously, depending on how you sell, how far you are moving and other variables, will depend upon how much it will cost you to move.
Compare My Move
The website Compare My Move is a great tool you can use to help you understand how much your next move will be. To work out all the fees correctly for you, it asks you thirteen questions. The questions cover the topics of information about your current property, how far you are moving and conveyancing questions.
How can I save money when moving home?
Whilst a lot of the costs are nonnegotiable, there are some things you don’t have to pay for or can negotiate.
Before selling or buying, start by researching and comparing different providers for estate agents, surveyors, solicitors, etc. Try to get at least three or four quotes to help you find the best price.
Make sure you don’t just look at price. Check company ratings and testimonials before signing any contracts. A great place to look is TrustPilot.
I started writing for PPO back in August 2019. I particularly enjoy writing about new housing developments and upcoming property events.