Is £20,000 enough money to move house (as in buy next home)?

[Sugarspiceallthingsnice2]

I mean excluding the deposit.

We want to up size, and budget that our next property will cost about 300k.

We have 20,000 saved. Is 20,000 enough to cover all the fees related to moving? Stamp duty, legal fees, estate agent fees, surveys, moving van etc....

Thanks!

You can calculate stamp duty based on the purchase price of your new property, there's loads of online calculators.

Estate agents fees you can estimate at about 2% of the sale price of your property, plus VAT

Removal fees are expensive, and entirely depend on whether you want them to box up and move, or just literally move stuff you've already boxed.

Solicitors costs depend on who you use, where you are located etc.

On the information that you've given, no one can tell you how much it'll cost 🤷‍♀️
And it would be way more useful for you to google the costs of these things based on your sale price/purchase price/local area

I would certainly hope so, that should be plenty! Stamp duty on 300k is £2500

It should be plenty. We moved 4 months ago into a new build & didn’t spend that amount even though we had to put flooring down throughout the house and order new blinds & curtains. Our house was £360k so was more in stamp duty too.

Based on those figures yes, there is a stamp duty calculator on GOV.co.uk that can help.

Yes that should be enough. If the purchase price is 300k then you should also a bit leftover.

We’ve just moved into a house also about 300k. It’s cost near 10k for solicitors, stamp duty, mortgage broker, solicitor, EA fees etc.

Moved from a £300k to a £400k one last year and our costs all in, solicitor, stamp duty, estate agents, moving costs came to about £14k. So yes, I’d say with a fair bit of change.

Thanks everyone!

All in including removals my costs were £20k. More than 75% was in stamp duty.

Should have enough there to cover those costs as well as any refurb costs too!