How much to move?

threeeyedraven

Good morning all,

My partner and I are keen to move from our house soon. We bought the house for £130k in 2014 as first time buyers and similar properties in the street are now selling at approx £180k so we would have a fair amount of equity.

The house itself is in good condition, 2 x bed property, 1 x bathroom, decorated neutrally throughout, new boiler last year, re done the garden last year, new carpets, worktops in kitchen & flooring, windows replaced etc so it is in a good "saleable" condition and in an area for first time buyers or buy to let landlords would be looking at.

We are quite keen to move now due to some disruptive neighbours (no police involvement but we feel we dont want to continue living here now) we would like to move as soon as possible before the area deteriorates further and also to a nicer area with better parking and possibly a garage. We have had a mortgage agreed in principle up to £250k.

My question is - how much funds do we need to move? We dont have a lot of savings (less than £1000) due to the work we have done on the house, are we able to pay the majority of fee's (solicitors, estate agents, stamp duty) out of the proceeds of the sale of the house upon completion or do we need ready funds? How much would an estimate for removal be? We could use a professional company or do the majority ourselves with large van hire.

Any advice is gratefully recieved & appreciated, when we bought this house we were first time buyers living at home so we had our deposit saved and did not have to pay estate agents fee's etc so this is new to us.

Thank you in advance.

TER

GoingOn30

You will need at least a chunk of the money up front, for solicitors, survey, any mortgage arrangement fee.
Another big spend will be stamp duty but you could use sale proceeds for that probably.
You probably need to save another grand then get yours on the market.

KL0001

Our costs up front have been
£300 solicitors deposit
£350 mortgage valuation
£1000 movers (to be paid on day of moving)
£100 approx for packing stuff
£250 skip hire (massive pre-move clear out)

In addition to that there is Stamp duty, solicitors fees, estate agent fees etc. We!!!8217;ve budgeted £15000 total cost for the move, but should come in slightly under.

quantumlobster

EA will be ~1.5% - so £1500ish
To do the conveyancing for our purchase and sale was ~£1000ish
Moving was £1300 (with packing service inc all boxes and packaging)
And then the survey fees etc. SDLT will be about £1100 for you.

I reckon for just the bare essentials, notwithstanding any work you have to get done to present the house for sale (e.g. decoration, clearing out, fixing things), you want £6K in your pocket. And another £5K on top of that for the stuff you didn't see coming.

quantumlobster

Also don't bank on that £180K - similar does not mean "the same" - are the houses that sold similar in terms of beds/baths/drive/garden/reception rooms? Do they have any benefits yours does not, e.g. aspect or lack of proximity to something unpleasant or noisy?


e: make with the rightmove links, pronto

SG27

KL0001 wrote: »

Our costs up front have been
£300 solicitors deposit
£350 mortgage valuation
£1000 movers (to be paid on day of moving)
£100 approx for packing stuff
£250 skip hire (massive pre-move clear out)

In addition to that there is Stamp duty, solicitors fees, estate agent fees etc. We!!!8217;ve budgeted £15000 total cost for the move, but should come in slightly under.

Same as us, we have a total budget of £15000 moving costs, but most of this will come from sale proceeds.

Up front costs for us are £350 solicitor and around £500 for a survey on the new house. We plan on moving ourselves so no removals to pay.

s_glover

Besides the actual costs of moving, I wouldn't be comfortable with such a small amount of savings moving into a property. There are bound to be some unexpected costs.