Moving house costs to consider:
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How much does it cost to move house?
We all know that buying a house can be expensive – but sometimes we forget that moving home comes at a cost too.
Solicitors, stamp duty and estate agents all have their own price tags. While it varies depending on where you live in the UK, the average cost of moving house is around £10,000.
In this guide, we’ll talk through the real cost of moving home so you can be budget ready and steer clear of any unexpected surprises.
Mortgage costs
Some of the different fees you can expect when taking out a mortgage are:
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Cost estimates sourced from MoneyHelper.
Early repayment charges
Currently in a fixed rate or tracker mortgage deal? If you decide to get a new mortgage when you move home, you may have to pay an early repayment charge (ERC). The ERC is typically between 1% to 5% of your remaining mortgage balance.
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Valuation fee
Lenders will usually assess the value of the property you’re asking to borrow against. Sometimes there will be a fee associated for this, usually for higher-value or more unusual properties. The cost of this can range from £250-£1,500.
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Conveyancing
Getting the legal side of buying and selling property right is crucial. You’ll need to instruct a solicitor or specialist conveyancer to handle your purchase and/or sale.
Their responsibility is to manage the contracts between the two parties in each transaction. They’ll also need to register purchases with the Land Registry. They can also offer advice, for example, relating to issues identified by the survey, and liaise with estate agents.
Your solicitor or conveyancer should be able to give a guide at the outset of what overall costs are likely to be. This is provided nothing out of the ordinary happens.
As a rough idea, expect to pay around £850-£1,500 in conveyancing fees when buying a home. Selling fees may be less as there are not as many checks to carry out. They may also carry out checks on any plans or issues in the area that might affect your property – typically for £250-£300.
Your legal professional will usually bill you once the transaction has completed.
If you're buying and selling in Scotland, it's possible to use either a solicitor or a specialist conveyancer for this process.
Removal costs
Finally, you are likely to have to pay to move your belongings into your new home. Average costs will depend on where you live, how far you’re moving and the size of your home. For a three-bedroom house, you can expect to pay around £800 if you’re packing your stuff yourself.
It’s good to get quotes from different removal companies to find the best value option, though be careful to read details around insurance of your goods during transport. The cheapest option may not always be the best.
Of course, you can also move all your items by yourself. But you may need to factor in the cost of hiring a van or appropriate transport to move larger items like sofas. You should also check that you have someone who is licensed and insured to drive the size of vehicle you need to hire.
Your guide to the big move
For a step-by-step on everything you need to know about securing a mortgage for moving house, our home movers guide can help. It covers how to find out how much you could borrow, what mortgage could be right for you, and things to think about before you apply.