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How Much Does it Cost to Move House?

Written by E.F. Posted On Wednesday, 16 August 2017 20:46

Even if you’ve made a handsome property on your investment, moving home can be costly. Here’s a rough guide to how much you can expect to pay to move home, along with a few tips for keeping costs to a minimum.


When you move, you can expect to pay a combination of upfront fees and ongoing expenses. The first and most obvious is the purchase price of the house itself- a particularly hot topic for first time buyers.  The average price of a UK property in early 2017 is £216,000- that’s an 8% increase from this time last year. As Belgravia estate agent, Best Gapp says “The biggest expense for most property buyers is the mortgage- obviously, this is a long term cost so you’ll need to carefully think about whether you can afford it before making a commitment.” Whilst there are still some 100% mortgages out there if you’re prepared to do some digging, the vast majority of lenders are looking for a deposit of between five and twenty percent. “That means that if you’re buying an average priced property at 15%, you’ll need to find £32,500 deposit- probably the biggest investment you’ll ever make” advises Lawsons & Daughters, estate agent in Fulham


Once the mortgage is agreed, there are other costs to consider. A valuation fee is something people often forget, but the average lender will charge between £150 and £1500 depending on the value of the property.  As Pimlico estate agent, Kubie Gold Associates recommends, “It’s always a good idea to shop around before signing on the dotted line because some lenders don’t charge for a valuation at all- do your homework and you might get a pleasant surprise!”


A good survey is essential, especially if you’re buying an older property. You can expect a survey to set you back anything between £200 and £600 depending on the type of report your home needs- it may seem like just another big expense but it’s a precaution that can save you dearly in the long term.  Legal fees will cost you around £1,000 and then there’s other up-front costs like estate agent fees (about 1%-3% of the property’s value plus VAT), electronic transfer fees (about £50) and removal fees (between £300 and £600 on average unless you choose to do it yourself).


As if the upfront costs weren’t enough, there are plenty of ongoing expenses you’ll need to think about too. We’ve already mentioned the mortgage itself, but also consider home insurance,  maintenance, utility bills and council tax too. The average homeowner in the UK currently shells out hundreds of pounds every month just on keeping the house up and running, so the importance of good budgeting can’t be stressed strongly enough.


Even though buying a house is costly, it’s not all doom and gloom. For many moving from rented accommodation to their own home, the sense of security gained from locking your own front door is priceless.  

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