How can you cut costs during your house move?
Moving house is expensive – it’s one of the reasons why many people find the experience so stressful. According to research by Lloyds Bank, the average cost of moving home in 2018 has gone up to £12,110, an increase of nearly £500 on the year before. However, if you’re planning to move home over the next 12 months there are ways that you can bring this cost down.
Make sure you understand the costs involved
Unplanned for costs can generate secondary expenses when you’re moving so it’s always a good idea to start by working out all of the potential outlay involved. In addition to the cost of moving vans, packing materials and any interior design you want to do when you want to move in, you’ll also need to consider the basic move costs including:
1. Fees for a solicitor or conveyancer – these average £1,326 in 2018
2. Stamp duty – this will depend on the property you want to purchase and its value. The average cost of stamp duty this year was £3,262. Most first time buyers will pay less.
3. Surveyors fees. The average cost for surveyors in 2018 was £565.
4. Estate agency fees if you’re selling your home. These will vary depending on your area and choice of agent.
5. Mortgage fees. Depending on the mortgage you’re offered, as well as factors such as your credit history, you may need to add a mortgage fee into your list of moving costs.
How to cut the costs during a house move
Shop around for an estate agent
You’re looking for the right balance of fees and service: an affordable fee that will ensure a smooth service that helps to avoid incurring additional costs.
Opt for a conveyancer, as opposed to a solicitor
If your move is going to be pretty straightforward then it’s easily handled by a conveyancer who will normally charge less.
Improve your credit score
For example, if you’re planning a move in 2019, start working on factors, such as reducing debt or making sure all your details are up to date, now so that your credit history will be in good condition when it’s time to apply for a mortgage. The better your score, the less you should pay in terms of interest and fees.
Choose the right kind of house survey
For example, if you’re buying a new build property then you won’t need to pay for the most in-depth (and expensive) type of survey. The RICS Condition Report is the most basic survey option – if you’re buying an older property, the building or full structural survey (the most comprehensive option) may be required.
Get organised when it comes to your possessions
Makes sure you’re boxed up and ready to go so that you don’t delay the movers and incur extra costs. Be accurate in your estimates in terms of the size of van you will need so you don’t pay for one that’s too large. And when it comes to the new property, make sure you go through the floor plan – will your existing furniture fit?
The right choice of agent can make your move smooth and simple – contact our team to discuss your plans for 2019.