cost of moving - have I forgotten anything?

[anita64]

Selling @£250k and buying @£325k. Have about £190k equity.Not on the market yet.

From memory we have to cough up for estate agents, surveys, solicitor, stamp duty and removals. Anything else??

Would £15k-£20k cover it?

Also, looking at £150k mortgage - is this realistic on £3k take home AND still be able to live comfortably. I do not like penny pinching and I don't want to work full time.

Any advice appreciated, especially if this sounds like your situation. Thanks.

don't forget the HIP

affordability depends entirely on the monthly repayments (ie dependent on interest rate and term of mortgage) - get some quotes. Try Moneysupermarket

but £3k net pa sounds way too low for a £150k mortgage - did you mean £30k?

Or did you mean £3k a month?

Sorry, I didn't make salary clear.

Annual salaries = £55k(joint). We take home about £3k per month but have just remembered that we are both paid 4-weekly so that is more like £3250 in the bank every month.

Yes I did forget the HIP but they don't cost that much do they? £500, I'm guessing.

What do you think Mrs Badger?

We're taking out a £150k mortgage on an almost identical take-home to yours, and we've budgeted that after mortgage and all bills/petrol we should still have £900 a month left (we have no kids though). I think that makes is more than doable (we could cut down some of the bills if we had to, as well - Sky etc).

still depends on the repayments - lenders will be happy to give you £150k but it's how you budget that'll make the difference.

We're looking at moving and have set in stone that we can increase our repayments by £200pcm but no more while still maintaining current lifestyle etc.

Do the tedious going through bank statements thing - tis a pain but is the only way to know.

DP would rather live in a cave than give up Sky.

We have DS age 7 and I have 2 older children (19 and 21) from 1st marriage but they are almost independent so don't really count in the finacial equation.

Does my estimate of £15-20k moving costs sound right?

Sounds generous to me.

Don't forget about what might need doing in the new house. Need to chuck out their manky carpets & get new ones? Buy new appliances? Our house was a refurbished old place & needed carpets, tiles in kitchen, blinds & curtain poles & curtains, right down to doormats, bathroom mirrors & hooks! It's exciting though.

hijack.......well sort of....we are moving soon and with new higher mortgage and bills/petrol/childcare we will have about 500/month left for the both of us, is this crazy?

a few estimates here. You have EA fees (maybe 1.5-2%) so around 3.5-5k and Stamp Duty c.9 in addition to solicitors, removals, surveys, mortgage fees etc. so 20k is fine. You're probably looing at £800/900 pm on 150k mortgage plus any life insurance and potentially increased council tax and bills.

Thanks everyone! Will probably arrange a couple of viewings to get a better idea of what's out there for our money.

Must check council tax but other bills might go down as the house we buy will be smaller.

When is this property crash going to happen? I could do with it right now!

my mortgage is 150k and our earnings (when we were still together)were £1800 per month!!!!
So you will be fine.
Maybe i should mention that one of the reasons we split up was money problems...