How much does it cost to move house?

pennyfarthing1971

We curently have a mortgage on our property but are now looking to move up the property ladder. We have lived in this property for almost 10 years now and i am wondering how much we will need to save up to move house - I kow that we will need money for Solicitors Fees, Surveys etc... But i am wondering how much we are going to need?

Also we are looking to buy a run-down property that we can renovate - any tips on how to get our hands on these types of properties without getting pushed out of the way by property developers?

Thank you in advance:o

uropachild

Oooh, you might like to chat on my support thread i just started.

http://forums.moneysavingexpert.com/showthread.html?t=2077639

I would say that you can expect to pay £5,000 in fees easily. Of course it depends on the cost of what you're buying because stamp duty is a large chunk of that.

If your house sold for £150K that's a 1% fee to the estate agent (at cheapest) = £1500
If you bought a house for £200K that's a stamp duty fee of £2000
Solicitors can cost about £800 i think
Removals i'm not sure about... maybe £300?
Then on your mortgage i think the fees are about £1500 in total for arrangement, valuation etc.

What's that? Um... £6100. Bleak.

reallymadscot

Just bought a house for 220k - costs so far - solicitor alomost 5K (incl stamp duty), financial advisor £250, administration fee for mortgage set up - £1000. We are moving our own stuff - can't afford a removal company!!
We sold last year but you do have to remember that share to the estate agents - sell privately if your house can be easily seen then you avoid all that.
Approach farmers, etc for run-down property. I couldn't believe when we moved here how many houses/properties were sold just because of a word here and a word there. They weren't advertised. So it's worth popping letters through people's doors and chatting to folk.
Good luck!

nic_santorini

HIP £300-400
Solicitors Buy and Sell about £1,000
Searches etc £300
Removals £500
Stamp duty 1% over £175k (at the mo)
any early redemption fees?
Any mortgage setting up fees that are not added to your mortgage?
I just moved from a 155k up to a 215k and it cost me £8K!! OUCH
Oh and the rip off estate agents, although you can barter, or do it yourself

property.advert

Lawyers - 0.5%
Estate Agents - 1.5 to 3%
Removals - 0.5%
Mortgage booking etc - 0.5%
Surveys - 0.5%
Other - 0.5%
Stamp duty - 1% to 4%

So probably an average of about 6% which will fall as you get up to 250k and then rise due to the increase in stamp duty, falling as a percentage again until the next rise at 500k.

PasturesNew

A lot of the costs are settled from the sale of your house.

The solicitor will need you to pay money on account for the searches they carry out for you, but they'll take their fees from the sale of your house.
Estate agents are paid by the solicitor from the money from the sale of your house.
Stamp duty is paid by your solicitor from the money from the sale of your house.
Removals money will be needed at the time of the move.

All you'll need up front would be:
- searches
- surveys
- any mortgage fees

michael1983l

6 Months ago it cost me roughly £5000 to move all in all and I was a FTB I expected £3k.

natman

Hi,

I moved in Feb this year -
Cost can get very high and also cost you dont really expect.

Solicitor - £1100
Searches - 120
Land Registry - £220
Stamp Duty - £2060
Mortgage set up £500
Valuation Fee - £200
Removals - £500
Estage Agents - £2000

Total - £6700

I then Had cost I didn really consider I would pay -

SKY TV RECONECT - £60
GET NEW WHEELIE BINS - £60
CHANGE HOUSE INSURANCE - £25 ADMIN CHARGE
BT TO RECONNECT - £125
CHANGE AA CAR COVER - £10 ADMIN CHARGE
LOTS OF NEW CURTAIN POLES - £250
THERE WHERE MORE BUT I CANT REMEMBER

It must be the most expensive thing you do in your life.......... Its just shocking!!!!

janey_uk

Easily £6000 -7000. More if you need to do any work at all.

Stamp Duty - 2% over 175k (I think!) and 3% over 250k
Estate agents - 1%-2% of sale price
HIP - £300-500
Survey - £300-1000
Removals - we moved a couple of hundred miles and it was £1000+ from every quote we had
Solicitors - £500-1000
Redirections and reconnections £500
Plus you inevitably need new stuff/tidying up decor. If you have fitted white goods you may need to replace, furniture may not always fit (we found divan beds didn't fit in the last place - it never even dawned on us as there were beds in when we looked and the vendors didn't mention it of course).

Even if yu do it 'on a budget' costs can just crop up...