The process of moving house can be backbreaking. However, knowing the cost of moving house in advance can help you avoid surprises and make things a bit easier, according to Macro Removals in Bristol.
Different factors determine the cost of moving home in 2022. Let’s see what these factors are and how they affect the total cost…
Selling or Buying a Home
The average cost of moving house depends on whether you are selling your home or buying one.
If you are buying a home, the average cost will be around £3,838, according to HireaHelper. This includes average stamp duty, valuation fee, estate agent fee, the housing survey fee, solicitor fee, and moving costs.
The cost will be more if you are selling a home. It will be around £8,755, which includes the cost of hiring a solicitor, conveyancer and estate agent, and moving to another home.
Stamp duty (see here) is the tax people pay when buying a home. It is used to support different government programs and initiatives.
If you are buying a property for the first time, you will have to pay stamp duty only if your property’s value is over £300,000. If you are purchasing an additional building, you will pay stamp duty for properties whose values are over £125,000. The amount of stamp duty depends on how expensive your property is.
Housing Survey Fee
You need to take out a housing survey if you are buying a property and want to make sure it is worth the investment. This survey is used to evaluate the true condition of a property. Its cost varies based on the size or value of the property. In the UK, the average housing survey fee is £800.
The valuation report is required before selling or buying a property. This report tells whether your home is worth the money or not. The fee you pay to get the report is called the valuation fee. Its cost can vary based on your property’s size. Its average cost in 2022 is £250.
Solicitor fee varies based on the value of the property, leasehold, gifted deposits and a few other factors. It is generally around £1,040 when you are buying a home. It will be around £950 if you are selling your home.
Estate Agent Fee
On average, the estate agent fee is around 1.42% of your property. But you can find many online estate agencies that offer their services either for free or at low rates. Their operating process differs from the operating process of traditional estate agencies.
The cost of moving house can fluctuate greatly depending on which estate agency you select. Choosing a low-cost agency may seem appealing but know that a more expensive estate agency has a higher chance of adding £10,000 onto your home’s sale price
Removal Company Cost
Whether you are selling or buying a home, you may need to hire a removal company to move your items securely and skillfully. The cost of a removal company will depend on your house’s size. The average removal company cost of moving a 3 bedroom house is around £480.
The process of moving house can be backbreaking. However, knowing the cost of moving house in advance can help you avoid surprises and make things a bit easier.