Saturday, 21 October 2017

How to cut the cost of moving house

Written by Posted On Wednesday, 06 September 2017 17:00

Smart savings for one of the most expensive times of life.

Alongside divorce and the death of a loved one, moving house is said to be one of life’s biggest upheavals with some serious amounts of stress and emotion involved. Uprooting yourself – and your family, pets and possessions – to another location also presents some pretty steep logistical challenges and costs can soon spiral out of control. However, if you’ve got to move house to a strict budget then there are ways to help cut the costs if you're willing to shop around and do some negotiating.

Fees

Buyers, sellers and renters should examine whether the real estate agent's or realtor's fees are flexible. These fees can make up a substantial part of the overall cost of moving house so, if you think you might have found that perfect new home then try negotiating – not just on the price of the home but also on the fees you would need to pay the realtor. If you are a serious buyer with the cash or home loan already in place for the purchase then this will put you in a great bargaining position. If you are not sure whether to buy or rent a home then compare the fees and use your comparison to get the best deal on fees

Removals

If you want to absolutely slash the cost of your removals one of the best ways to do it is to hire a van and manage the entire operation yourself, perhaps with the help of friends and family. Depending on your possessions and where you’re moving to this may not be possible. If it is – just be prepared for some serious hard work on the day. If you’re bringing in the professionals then shop around before agreeing to any price. The range of quotes you’ll receive is likely to be vast so it’s worth the effort to find the cheapest. Don’t be afraid to negotiate and if you find a cheaper quote elsewhere then ask other companies to match it.

The cost of your home loan

Mortgage fees have more than trebled over the last decade amongst some lenders so make sure you check the small print from your preferred lender, because this can be just as important as the actual interest rate you will be paying to borrow the money.

This extra expense can add substantially to your moving costs and rarely feels like value for money. If you want to reduce your mortgage fee again - you've guessed it – try negotiating. Or consider avoiding the fee altogether – di you know you can opt for a fee-free home loan? The trade-off is that your interest rate will rise slightly. However, if you’d rather bear the cost via the regular monthly repayments, rather than in a lump sum on moving day, it can be a more attractive choice for some people on a strict moving budget.

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