By Frances Traynor
19th January 2018
Sun 05 Nov 2017 by Ellie Pierpoint
Everybody knows that moving home is a big expense, but no one seems to know exactly how much it’s meant to cost. We’ve outlined all the expenses you can expect to pay when moving home, so you can budget in advance and avoid any pricey surprises.
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Conveyancing varies in price depending on the location, value and type of house you are buying or selling. In general, you will pay about £500 - £1,200 for your conveyancing and this includes any property searches and Land Registry fees. If you book your conveyancing through Homeward Legal, your conveyancing will come with: • Fixed Fees - which will ensure that you only pay what you were quoted, with no extra charges added on throughout the conveyancing process. • A ‘No Completion No Fee’ guarantee – this means that should your sale or purchase fall through, we will give you your next conveyancing package for free, so you’ll only pay to move once. • To see how much your conveyancing would cost, why not get a quick quote now – there’s no obligation to buy, so you can use it to get an idea of your moving costs.
For your peace of mind, you’ll want to pay for a survey on your new property before you buy it. This will ensure that there are no major problems like damp, rot or subsidence that will end up costing you in repairs down the line. A standard HomeBuyers Report from a reputable company like Surveyor Local can cost anything from £300 to over £1,500 depending on the location, size and value of your home. This cost is small, however, when compared with how much undiscovered subsidence could cost you later!
Stamp Duty is going to be your biggest expense and this is worked out on a sliding scale: • 0% on properties up to £125,000 • 2% on properties from £125,001 to £250,000 • 5% on properties from 250,001 to £925,000 • 10% on properties from £925,001 to £1.5 million • 12% on properties from above £1.5 million So, a £250,000 house would set you back £5,000 in Stamp Duty, for example. Stamp Duty is a compulsory tax and is paid on Completion day, when you pay the value of your new home. The money goes straight to the government in return for official ownership of your property.
According to the nation’s leading removals company, Pickfords, the average price of removals stands at £1,200. This includes a packing service on either end. Of course, with any average, this number can vary, and according to a study carried out by The Telegraph, the most expensive place to move house is London, and the cheapest is Northern Ireland. Homeward Legal has recently teamed up with Pickfords to offer all our customers a £50 voucher towards their removal costs. All you have to do is book your conveyancing through Homeward Legal and we’ll give you the voucher as well as entering you into our prize draw to win your entire removals package for free!
If you decide you want to redecorate your new home, you’ll need to factor in these extra costs, though figures will vary hugely depending on your specific property. Recent figures from painter.co.uk show that for the average 3-bedroom house, you would expect to pay around £1,050. Of course, this price all depends on what paint or wallpaper you choose, where your new home is based (for example, London is usually more expensive) and what condition your property is in to begin with. If you want a different quote, use this handy decorating costs calculator to find out roughly how much you could pay on redecorating.
In addition, you might have to pay extra fees like getting your locks changed (average £125-250 depending on lock type), plus reconnections of services like internet and utilities (£0 to £200), and other miscellaneous costs.
So the big question you’re all sure to be asking is – how much does it cost to move house in total? Well we’ve done the maths for you (you lucky thing!). At the very minimum, with no Stamp Duty, no decorating and no extra costs, you could expect to pay £2,650 (and that’s including your £50 discount from Pickfords!) It’s more likely that this figure will be higher, especially if your property is worth over £125,000 (Stamp Duty!), so to give you an idea, we’ve worked out the total price for an average 3 bedroom, £250,000 house based in the south-east:
|Conveyancing (Homeward Legal)||£600|
|Survey (Surveyor Local)||£550|
|Removals (Pickfords)||£1,150 (with £50 discount)|
So, there you have it! Moving house is going to cost you a few thousand pounds in the least, but if you’re worried about the value of your moving services, be sure to check out the links to reputable companies that we’ve shared here, and of course, get your conveyancing from Homeward Legal – or at least try our <a href"http:="" www.homewardlegal.co.uk="" quotebuilder?product="0"">free, no obligation quote generator to see our high value for yourself. Good luck with the move!
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