Moving to a new home is a really stressful experience and can end up being quite expensive; in fact, around 40 per cent of homebuyers are overspending on the associated costs. It is important to organise your money so that you have enough put aside to move, so let’s take a look at six of the most commonly overlooked home moving costs.
When you purchase a property, you will have to pay stamp duty land tax. The amount of stamp duty you pay will be based on the price of the property, with fixed government rates.
A property survey is important when buying a new home. A survey will check the quality of the home, including everything from the foundations to the wiring, to make sure your investment is worth it. It will highlight any areas that will need to be fixed before or after you move in.
A removals team can give you a quote dependent on the size of the property and how many possessions you have. Issues such as parking and access may affect the amount of the quote.
A conveyancer will help you to deal with the admin when it comes to buying your home, such as paying the fees and transferring the deeds. Conveyancing fees include the time that the conveyancer takes to finalise everything for you. For reliable conveyancing services that can save you money, take a look at professionals such as https://www.samconveyancing.co.uk/news/conveyancing/no-sale-no-fee-conveyancing-153.
If you are not moving straight into your new home, a hidden cost you may not have thought about is putting your belongings into storage. A removals company may be able to offer you a storage service as part of its package. Storage will become more expensive depending on how accessible and flexible you need it to be.
Buildings insurance is required when obtaining a mortgage. You will also need to invest in a new home contents policy or transfer your existing policy to your new property.
Planning for all these costs can make moving run a lot more smoothly. Do your research ahead of time so that your bank balance does not take an unexpected hit and you avoid any extra hidden costs.