How much does moving house cost?
Guide to selling your home
There are many reasons why you might be considering moving house; downsizing, getting a bigger home, relocating due to a new job or looking to release some funds. Whatever your reasons, once you’ve decided to sell, this guide will help you navigate through the main aspects of selling your home.
1. How much is your house worth?
The first port of call for most homeowners is finding out what your property is worth. This is essential to start looking for a new home as a valuation will help you understand how much capital you will have to play with. Estate agents know the local housing market and are best-placed to tell you what your house is likely to sell for and you shouldn’t have to pay for this. Get three agencies to come and provide you with free valuations so you can ensure they’re on the right track.
2. Budget for your sale
Make sure you know how much selling your property is going to cost you. Costs can vary but the following will give you a basic idea.
There is a charge for estate agency services and costs vary, with some charging a percentage of the sale and others offering fixed fees. You will need to agree this before you sign a contract.
Before you can put your property on the market you must get an EPC. This contains information about a property’s energy use and gives it a rating from A (most efficient) to G (least efficient) and is valid for 10 years. Some estate agents will include the price of your EPC into the fees that we've mentioned above and some will charge it on top and they usually start from around £40 but can cost over £100 according to USwitch.
- Energy Performance Certificate (EPC)
You will need the services of a solicitor to help with the legal aspects of selling your property, this is called conveyancing. Conveyancing costs can vary. You may want to obtain a written quote from different solicitor firms to make sure you are not overpaying. If you’re selling and buying a property you may be able to negotiate a discounted price.
- Conveyancing and legal fees
You may need to hire the services of a removal company or hire a van. Costs will vary depending on how far you need to move and the amount of items you need to move. Shop around to get the best quote.
Always check to see if you have any early repayment charges or administration fees when paying off or moving (porting) your mortgage. If you do, it could be worth speaking to Mortgage Advice Bureau as, in addition to helping you with your new mortgage requirements, their expert advisers may also be able to help you reduce any early exit or administration fees you have.
Guide to planning your move
We understand that it can be hard to know where to start when buying your new home. Once you have found your dream property, an offer has been accepted, your survey has been carried out and the buying process is underway, we have some hints and tips to consider when planning your move.
When the estate agency and solicitor you are using inform you of the proposed exchange and completion dates, you will be able to start to consider:
- Getting a home insurance quote from our trusted partner RSA. Remember, buildings insurance is compulsory when applying for a mortgage
- If you have children, look at registering them in a new school or nursery in the area
- Ordering any new furniture you require
- Considering if self-storage will be required. If so, get more than one quote to ensure that you're getting the best price. Depending on the amount of belongings you have, you could ask friends or family to use some of their garage space to save some money
- Deciding if you want to hire a van to move yourself, or use a removal firm, get quotes and then book
- Arranging for your post to be redirected
- Informing friends and family that you are moving and forward your new address
- Sorting through belongings to streamline ready for the move (recycling centres, charity shops, selling)
- Gathering packing materials, and start packing
- Informing your gas/electricity, phone, council tax, TV licence, satellite and internet providers that you're moving home and if you can transfer over details to your new home and receive any discount. Or research and arrange contracts with new providers
- Informing companies that hold your home address that you are moving and provide your new address. For example, mobile phone, credit cards, bank/building society, pensions/investments and Government funded benefits.
Once you have moved:
- Take meter readings and grab photographs whilst you're at it as proof and then inform your utility suppliers
- Update car details (driving licence, vehicle registration document and insurance)
- Register with a local doctor
- If you have any pets, register with a local vet
- Update your details on the electoral register.
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