How much does it actually cost to move?

(13 Posts)
mareseatoatsanddoeseatoats Thu 04-Feb-16 21:47:50

Am sure this has been done many times before, but i couldn't see anything recent.

I just wondered realistically how much money do we need to move house?

So far I have assumed:
Estate agent fees (do you pay if you sell and buy, or just if you are selling?)
Some sort of survey
Moving company
Solicitors
Stamp duty

how do i work out the costs, are they all dependant on house price?

namechangedtoday15 Thu 04-Feb-16 21:55:30

You only pay estate agents fees if you are selling.

You usually have to pay a fee for your mortgage (although sometimes this can be added to the mortgage).

Some mortgages have a "free" survey (if you're having the basic survey).

Stamp duty is paid by the buyer - and yes is dependant on the cost of the house.

Best way to get an idea of solicitor and moving costs is just to do a ring around.

wowfudge Thu 04-Feb-16 23:07:45

There was an application processing fee with our mortgage then we're adding the the main fees to the mortgage.

If you are buying and selling there will be two sets of fees the solicitor charges - selling is usually cheaper than buying.

Don't forget things like mail redirection. Your car insurance may go up or down and there will usually be an admin fee, even if nothing changes apart from your address.

SchnitzelVonKrumm Thu 04-Feb-16 23:18:54

Survey depends on how detailed you want it to be and size of house. Solicitors fees generally fixed in bands related to value of sale. Movers depends on how much stuff you have but get several quotes as there are can be big differences (we got three, the most expensive was twice as much as the cheapest. All reputable companies).

BasinHaircut Fri 05-Feb-16 07:29:31

Estate agents usually between 1&2% of the price of the house (selling only)

Stamp duty is a killer nowadays if you live anywhere remotely expensive

Solicitors to buy and sell about £1-1.5k combined

Survey (I'd never just have a free valuation unless a new build) £500

Removals incredibly variable but I'd say average probably £1k and pay for packing it's not v expensive in the grand scheme of moving and totally worth it.

I've just totted up how much it would cost us to move and it would be somewhere in the region of £22k.

Fucking hell.

wowfudge Fri 05-Feb-16 07:47:55

It is expensive to move - we got our mortgage redemption figure and DP was delighted it was less than we had budgeted!

lavendersun Fri 05-Feb-16 07:55:17

We are selling and renting.

Selling - solicitor £850, Agent 1.5%, moving a lot of stuff 200 miles £2000 - all plus vat.

Renting - referencing £280, drawing up lease £350, two months rent as deposit.

Our mortgage was less than we thought too wow, not a fortune but enough to pay for all of the above.

I bought my first house in 1991 and remember my solicitors fees being £250 to buy!

BasinHaircut Fri 05-Feb-16 08:36:34

We only moved last April but because of rising house prices and what we would move to in terms of next price bracket of housing etc, the stamp duty would be AT LEAST £12.5k. It was £5k to buy this one.

We are now considering whether to do a loft extension or move again in the future. Assuming we would have to borrow £50k for a lift extension, when you think that it would cost £22k just to move, we would have to move to a house which increased our mortgage loan by only £28k to make it cost effective. For £28k extra we couldn't even buy our current house in this market.

Figgygal Fri 05-Feb-16 08:38:11

We are looking at around £12k to move (6k) stamp duty alone

mareseatoatsanddoeseatoats Fri 05-Feb-16 14:36:01

Thank you will have to get the calculator out tonight and go through everything. It is all just so much money. We could extend here but I don't think we would make the money back on this house when we sell it.

Wuffleflump Fri 05-Feb-16 15:20:22

MSE has a list of fees involved in moving, with estimates of what they will be www.moneysavingexpert.com/mortgages/mortgage-fees-stamp-duty

wowfudge Fri 05-Feb-16 21:38:02

That's really useful Wuffle. When I bought my first place, the mortgage company paid my legal fees. Mind you, interest rates were about 7%.

BasinHaircut Sat 06-Feb-16 07:03:57

I don't think you have to make all of your money back, you have to make it all back minus moving costs.

For example if we went ahead and did a loft conversion it would cost £50k. It would cost us £22k to move so actually only need to make £28k to break even IYSWIM.

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