This “cost of moving calculator” is designed to make it quicker and easier to determine the price of relocating. If you’re planning to move home soon, you’ll probably want a reliable way to calculate the costs of moving your house. Unfortunately, moving house isn’t cheap and there are many different factors to bear in mind when it comes to working out how much you can expect to pay.
Cost Of Moving House In The UK
The first thing to bear in mind when moving to a new home is the deposit you’re going to have to pay. To get a mortgage, you’ll probably have to have at least a 5% deposit, but if you’re able to increase that amount you’ll gain access to more providers and also better rates. The amount of deposit you’ll require depends on how much your new home costs.
The government’s stamp duty tax is charged on any home sold for £125,001 or more in Northern Ireland, Wales or England. The amount you’ll pay is determined by the price of the property and increases when specific thresholds have been exceeded. Use this cost of moving calculator on the .gov website when trying to work out your stamp duty: https://www.gov.uk/stamp-duty-land-tax/residential-property-rates.
The Valuation Fee
Mortgage providers won’t be able to lend you any money if they don’t value your property. The fee will vary, but could be anything between £150 – £1,500. Sometimes, this amount is incorporated in the mortgage’s overall cost and therefore won’t be listed separately as a fee.
The Surveyor’s Fee
Having a survey carried out is often a key element in the home-purchasing process since it helps to identify any possible problems with the property before you make a commitment. A comprehensive survey will cost you more – while a basic one will cost around £250 a complete structural survey may cost more than £1000.
Your Legal Fees
When you’re buying and selling property it’s essential to make sure that the legal side is all in proper order. For this, you’ll require a licensed conveyancer or solicitor on board. They will carry out searches checking for issues regarding the purchase of your property, and this will cost around £250 – £300. On top of this amount, there are more legal fees to consider. The cost of those fees depend on the property itself as well as the conveyancer or solicitor’s own charges, however you can expect to pay between £500 – £1500.
Electronic Transfer Fees
You can expect to pay around £40 – £50 to your mortgage lender to cover the costs of transferring the money for the mortgage to the solicitor for the seller.
The Estate Agent’s Fees
If you’re a first time buyer, you won’t need to worry about paying an estate agent’s fee since it is only payable by people selling a home. The amount you’ll pay will be determined by the estate agent however the typical cost is around 1% – 3% of the selling price with another 20% VAT on top.
Hiring A Removal Company
You’ll probably need to hire a removal company to transport all your furniture and possessions to your new home, and the cost of this will depend on the company you choose and the amount of items you need to be moved. While it’s possible that removal costs could be as low as £300, in some cases these costs could be considerably higher depending on the distance that you’ll be moving and the amount of belongings you’ll be transporting. Between 2-5 bedroom houses it can cost in the region of £1500-£4000 plus vat. If you’re moving at the end of a month and at the weekend, you will probably pay an extra fee too. Find out about how we do House Removals.
Sometimes, you need to store some possessions before you can move into your new home. This occurs if you have too many items to fit into a new property, or if there is a gap between the completion dates. Because of the house sizes in London, this is often needed when working out the cost of moving calculator. If you require temporary storage, you will need to hire a storage unit and this will come at a price. Prices vary, and you can shop around to get different quotes, however, you can expect to pay around £140 per month for this service.
This cost of moving calculator UK will give you a better idea of how much you can expect to pay for the vital elements involved in your relocation. Bearing these expenses in mind, you should be well-prepared to move home. FIND OUT ABOUT OUR STORAGE RATES HERE