There’s more to moving house than boxing up your belongings and changing your address of record; it’s actually a massive undertaking, full of daunting details and treacherous territory. What if the loan doesn’t go through? Will the kids like their new school? How much is the whole mess going to cost, when all is said and done?
Questions such as these weigh heavily on moving families, making the process one of life’s most worrisome events. If you’re eager to ease into life at your new location, without spending too much moving house, advanced research and financial planning can help you answer questions and work things out, without turning your move into an expensive, stressful experience. A list recently shared online identifies some of the common costs buyers and sellers can expect when moving house.
Moving House? Part Two picks up where Part One left off, continuing to account for the high cost of moving house, while providing reasonable suggestions for an affordable move.
The valuation fee paid depends upon the mortgage you select. The fee covers the cost of valuation conducted by the bank, so lenders know how much of the purchase price they’ll offer to finance on the home. Valuation charges can range from as little as £150, to a hefty price of £1,500, based upon the type of financing required for the purchase.
Like other aspects of a home sale, it’s important to be thorough about the condition of the property. Contracting a surveyor to check out the house, before consummating the transfer of ownership, points out structural problems with the house and ensures you know what you’re getting into.
Surveyor’s fees range from £250-£600, depending upon the size of the house and the type of survey you select. A basic home condition survey falls near the lower end of the pricing scale, but doesn’t provide the same level of assurance as a more thorough, costlier survey. Although you don’t want to overpay for any aspect of your move, paying for an exhaustive survey could prevent you from making an unwise property investment.
Electronic Transfer Fees
It costs money to move funds electronically, so you may run into transfer fees for your property transaction. Electronic transfer charges typically arise to cover the cost of moving mortgage money from the lender to the solicitor handling your affairs. Fees vary, but you can expect to pay less than £100 for electronic transfers from your bank.
When hiring a removal company, the size of your house and the distance of your move are key factors influencing the overall cost of moving. The amount of stuff you need moved, as well as special handling requirements, packaging materials, and access issues all play into the price, with upcharges in place for anything out of the ordinary.
One recent analysis suggests the average cost of moving in the UK is more than £1,700. Several available loans can help cover moving expenses. Your paycheck serves as a repayment guarantee, so the loans are well-suited for paying short-term moving costs, when you need money quickly.
Lower Moving Costs
You can’t move house without spending some money, but you shouldn’t pay more than you have to for a smooth moving experience. If you’re serious about saving cash on your next location change, start planning well ahead of your target date. If it’s possible to lighten your load, shedding some of your extra belongings reduces removal expense. And booking early can help you lock-in preferred pricing. Shopping around and negotiating deals are additional strategies you can use to keep costs down, as well as working out your packing materials in advance, so you’re not forced to pay high prices at the last minute.
Moving house isn’t life’s greatest challenge, but pulling off a worry-free move does require a substantial effort. Advanced planning and attention to detail not only keep your move on track, but making early arrangement can also help you save money on some of the common moving costs highlighted in Moving House? Parts One and Two.