What Are the Costs Associated With Moving House?

Moving into a new home can be very exciting - but what are the associated costs you need to budget for, and what life admin do you need to add to your to-do list before you kick back and enjoy your property?

Most home movers spend an average of £8,000 - £9,000 ( Stamp Duty can vary!).

Today the moving specialists at Goodfellows Removals run through some of the key elements to remember and those less apparent house move costs you don't want to forget!

Taxes, Legal Fees and Stamp Duty

The obvious costs of buying a new home are the mortgage and deposit. Still, you'll also need to consider the related charges involved with signing over legal ownership of the property.

Stamp Duty applies throughout the UK (although it's called Land and Buildings Transaction Tax in Scotland and Land Transaction Tax in Wales).

Your exact cost will depend on the value of the home and whether you're a first-time buyer; in England, it works like this:

• Stamp Duty applies to purchases over £125,000 unless you're a first-time buyer, in which case you're exempt up to £500,000.
• Above that, the levy is charged at 2% up to £250,000, 5% up to £925,000, 10% up to £1.5 million and 12% on the remaining amount.
• The duty is charged per band. If your new home is worth, say, £300,000, you pay 2% on the value between £125,000 and £250,000, and then 5% on the cost from £250,001 up to £300,000.

Conveyancing or solicitors costs tend to be around £1,500 on average and cover the legal side of the transaction, including registering the change of ownership and preparing the title deeds.

You may have had a survey carried out already to apply for a mortgage. If not, it's worth organising, in any case, to ensure you've got a clear idea of any structural issues or defects that impact the amount you're willing to pay.

A survey costs from £100 to £1,500. That depends on the size and age of the property, location, and how detailed you'd like the report to be.

Organising Removals

The next step is to think about relocating all of your belongings.

Most movers used a professional removals company since handling heavy furniture, appliances, and valuable possessions often commands a large moving truck and protective equipment.

It's often more cost-effective to manage removals in one go, with a commercial vehicle and all the tools you'll need such as strapping, banding, cushioning wraps and trollies.

If you decide to move by yourself, you should think about:

• Hiring the largest vehicle, you're permitted to drive.
• Refuelling costs for the number of trips it will take.
• Purchasing packing and safety supplies.
• A permit to park the removals van outside (depending on the local council).
• Insurance coverage to protect against damage or breakages.
• Realistically how many pairs of hands you'll need to handle heavy items - fridges, washing machines, pianos, beds, sofas, and wardrobes can be very difficult to manoeuvre.

Our advice, of course, is to use an experienced removals team that covers all of the costs within one quotation, inclusive of insurance coverage and the equipment you'll need to transport everything you own safely to the destination.

Insurances

Some mortgage lenders like to see insurance details before the financing completes. You can end up overpaying for insurance if you're in a rush - so it's important to sit down and consider which policies are the best value for money.

The basics include:

• Buildings insurance - covering the new home's structure against fire, storms or flooding, plus permanent fixtures such as a fitted kitchen.
• Contents insurance - depending on the nature of your belongings, but normally required for furniture, technological appliances and personal valuables.
• Life insurance is not always necessary but is sometimes recommended by mortgage lenders to cover your income if you cannot repay the loan.

Timing your insurance just right is essential, and it should cover you from the date you exchange contracts, not the day you intend to move in.

That's because any gap in the insurance can be disastrous - such as a fire breaking out when you technically own the property but don't have insurance to deal with the repair costs.

Moving Home Admin

If you've lived at your previous address for any time, there are likely quite a few tasks you'll need to deal with before getting settled in!

Redirecting Mail

Royal Mail offers a redirection service for up to a year (or from a couple of weeks) which can be very helpful if you're not 100% confident that every supplier, company, friend or business you deal with has your updated address details.

Storage

Many people hire a storage unit or self-storage space during a house move. For example, you might want some time to clean the new home before your furniture arrives.

This option tends to cost from £25 to £100 a week, depending on the volume required.

Packing Materials

Moving by yourself means you'll need a lot of packaging - and probably much more than you imagine!

Boxes, bubble wrap, tape, and labels are all important to keep your belongings safe and easy to sort through once you've finished.

Property Cleaning

It's good etiquette to give your old home a thorough clean before leaving. Before putting all your furniture in the right spaces in the new house, you'll also probably want to book a deep clean (including shampooing the carpets and disinfecting bathrooms).

A deep clean from a professional cleaner costs between £100 and £350, depending on where you live, the size of the home, and which tasks you'd like them to carry out.

Childcare and Kennels

An often-overlooked cost is childcare and pet care, especially if you're moving a significant distance!

Having kids and pets under feet can make the chaos of moving even more challenging, and we'd always recommend booking a childminder or a local kennel or cattery near your new home for the moving day.

You're looking around £10-£20 a day for pet care, and £40 to £70 as a rough estimate for childcare.

Changes of Address

We'd suggest taking final meter readings for every utility on the day you move out and before handing the keys over. You should do the same at your new home and send the readings (with a photo) to the supplier.

Next, you'll have to register the change of address with the local council - in both areas - to ensure you are up to date with your council tax obligations.

Finally, you will need to change your address with the DVLA on your driving licence. This service is free of charge but costs £14 if you apply online and want to change your photo simultaneously.

Passports don't include home addresses, so they won't need to be updated.

We appreciate that moving home can be a big project, and we hope this checklist helps give you a great idea of all the unexpected costs that are important to build into your budget!

For any further advice or support with organising your removals or getting ready for the big moving day, please contact the house move experts at Goodfellows Removals for advice.