Having thoughts about moving home? With pans, pots, plates, cups and glasses to pack. Also thinking about what furniture to shift or even take to your new home, moving house can be not just a painful experience it can be a very expensive one. Our House Removal Costs UK guide will help you along the way.
There are many reasons why we move, it could be because of an increase in family members or even a time to retire and downscale. Either way moving house is an exciting time but all too often people lose sight of the costs which can quickly escalate adding more strain to your move.
On top of the costs of buying your new home there are also the costs for the following:
- Legal fees
- Stamp Duty (If Required)
- Homebuyer’s reports
- Estate Agent Fees
- Building and Contents Insurance
- Actual Removal costs
According to research by UK Banks to date, the total average cost of selling your current home and moving to your new dream home is now in excess of £11,000 (these costs can vary depending on your location within the UK that you currently live and the area you are moving to). The house removal costs UK article discusses this further.
Lets investigate some of these costs:
Legal Fees
To complete both the sale and purchase of your new home you will require recruiting the professional services of a solicitor or licensed conveyor. Legal fees do vary widely around the UK but are typically between £750-£1,900. Additional to your legal fees the Land Registry will also charge a fee for registering your new property in your name. This fee does vary and it does depend on the value of your new house, in general the fee is between £100 – £140.
Stamp Duty
By law all residential properties in England and Northern Ireland that cost more than £125,000 are subject to (SDLT) Stamp Duty Land Tax.
The cost of your stamp duty will pay will depend on the rate band your new home purchase price falls into.
As an example, if you buy a house worth £250,000 you will pay nothing on the first £125,000, but 2% on the next £125,000. So your total stamp duty would cost £2,500.
Great news for first time buyers, you will pay no stamp duty on the first £300,000 of your new house purchase
Homebuyer’s Report Cost
A full homebuyer’s report usually starts at around £400/£500.
So what do we get for our money? The report will assess the full details of your potential new home and identifies any defects or problems, which could affect the value of the property. While you may think a Hombuyer’s report (HBR) is an additional expense the peace of mind that it gives about the condition of your new home will also in the long run potential save you money.
It is not uncommon that after the results of a HBR the purchaser has used the report to negotiate the price down on their intended new property.
The Royal Institute of Chartered Surveyors (RICS) reports that only one in five homebuyers receives a homebuyers report. As a result, many are hit with unexpected repair bills after moving the completion of their new property.
Estate Agent Fees
If you are a first time buyers do not worry about this additional cost because you will be exempt from Estate Agent Fees. If however you are not a first time buyer and you are selling a house you will likely pay estate agent fees.
Building and Contents Insurance
During the mortgage application stage and before qualifying for a mortgage your bank/lender will ask you if you have arranged or found quotes for building and contents insurance. This typically currently costs around £160 a year. (Will vary if you have specific household items that are classed more than ‘Household’ e.g. expensive watches, jewellery and electronic goods etc.)
This insurance cover will protect your home against damage from fire, floods, sinking and other events, which could affect your property’s value.
Removal Costs on Move Date
At Green4Logiscs we pride ourselves on trying to save you money on this segment of your ‘New Home Purchase Project’.
We offer two options for you move. Firstly we offer an ‘hourly rate’ service, whereby we charge £50 per hour for a two man and van service. Great option for small house moves and also first time buyers who have no time restrictions on key exchange of new property etc. For these types of house removals they normally take between 4-5 hours to complete which would cost between £200-£250 in total.
Take a look at Hazel Maria Wood’s video from Youtube, she talks about her own personal experiences when she bought her house. Must see!
We hope our ‘house removal costs uk’ guide will help you to plan ahead with you next home removal and budget for your future costs.
Have you any further information that you think we have missed? Or would like to ask a question? Please comment below, thanks.
