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As well as the price of the house, when moving you also have to consider other costs associated. From stamp duty and legal fees, to surveyor costs and removal charges, we’ve got everything you need to know. Conveyancing is the process of hiring a solicitor to act for you when you are buying or selling a property and will usually cost between £500 and £1500, including VAT. Often, you may be able to negotiate a package with your solicitor if you’re buying and selling at the same time so it’s worth asking. It’s important to choose the right solicitor so do your research and compare services. Stamp duty can add thousands of pounds to the cost of selling your home and is the tax payable to the government for changing the documents that specify who own a specific property. In England, Wales and Northern Ireland, you must pay stamp duty if you buy a house over a certain price. As well as monthly repayments, there are also other costs when it comes to your mortgage. Depending on the mortgage you choose, you may have to pay a valuation fee to the bank for them to assess how much they are prepared to lend you. Typically this varies from £150 to £1500. Before your property sale goes through, you will need to have your property checked by a surveyor and you guessed it, this will cost. You can pay for a cheaper, basic survey but it is advised that you pay for a good survey as it can save you money in the future if the basic survey misses something serious. A survey usually costs between £250 to £600. As well as this, have you considered removal costs? The size of van required, distance travelling and labour will all affect the final price. Whilst a van and a few mates work sometimes, when it’s a big job, it’s best to get the professionals in. Removal quotes are based on volume of belongings so why not de-clutter and sell some unwanted items? Some companies charge more at the weekend so think about moving mid-week to save some pennies. Finally, have you considered redecorating costs? Whilst you may be moving into a home that is perfect for you, it is likely that you will want to carry out some DIY projects. This doesn’t need to break your bank balance but can easily add up if you’re not careful. Home insurance is also a good idea when it comes to renting or buying a house and again, is one of those hidden costs that tends to be forgotten about when moving. Moving home is an expensive and stressful process but compare quotes, take your time and try to enjoy it! n Image credit: Syda Productions/Shutterstock.com Image credit: mubus7/Shutterstock.com THE REAL PRICE OF MOVING


14_12_June_2017online
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