At Stones Residential, we aim to help you make an informed decision for every aspect of a property move. Selling your home can be an emotional activity, but it is also one with a lot of tough decisions. You also need to consider the financial aspect of selling your home.
You will find that there are many costs associated with selling a home. A lot of these fees are well-known, but you’ll also find that some costs aren’t as immediate as you would hope for.
If you want to better manage the costs of moving home, make sure you choose Stones Residential in Belsize Park, and we will make sure you make informed decisions.
How much does the average house mover spend?
A study undertaken by MoneySuperMarket highlighted the following issues:
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The average house mover in Britain spends £748 each time they move, and this is above stamp duty charges, legal fees and agency fees
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The average person in Great Britain moves 5.5 times in their lifetime
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This is an average cost of £4,116 in additional fees when moving
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This represents a rise of 12% on the 2020 figures, which stood at £3,688
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There was an 8% rise in 2020, where the cost rose from £3,417 to the £3,688 level
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In the past two years, overall costs have risen by 20%, moving from £3,417 to £4,116
What are people spending money on when moving house?
The five most common extra costs incurred when moving home are as follows:
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Buying new furniture for your home was cited by 55% of respondents
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Purchasing new household items with kitchen utensils and bedding as examples, said by 53% of respondents
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Paying for your mail to be re-directed was cited by 42% of respondents
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36% of respondents listed changing utility bill providers
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Paying for removal services was said by 24%
Why do people want to move?
The most common reasons for moving home in 2021 were as follows:
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Moving in with a partner was said by 29%
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Buying your own place, was said by 28%
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Needing to move to a larger home, said by 27%
The average amount of deposit which was lost when moving house was £329.
Jo Thornhill, money expert at MoneySuperMarket, commented: “The cost of moving house is a well-known challenge for Brits. It’s an issue that has come into sharp focus over the past 18 months with the housing market booming in response to government incentives like the stamp duty holiday. What is less well known are those additional costs of moving that can add a significant amount to your bill, over and above items like stamp duty, legal and estate agency fees.”
Jo also said; “If you are considering moving, factor in things like cleaning, new household items, temporary storage space and professional movers to make sure your treasured possessions get from A to B safely and, crucially, to make sure you aren’t surprised with any unexpected bills.”
Jo Thornhill from MoneySuperMarket concluded by saying; “It’s also important that you have contents insurance before transporting your items to their new home – most policies will provide cover for your belongings against damage or loss while they’re in transit from one property to the next. But make sure you use a professional removals firm – many of which have their own insurance – to guarantee you benefit from this protection.”
If you would like to arrange an appointment to help you negotiate the local housing market, please contact Stones Residential today by calling us on 020 7483 0685 or emailing belsizepark@stonesresidential.co.uk.
