Enter our cost of moving calculator, which we have designed to help you calculate the amount you will need to spend on your next home move and how to reduce costs as much as possible.
Tip 1 You can reduce your estate agent fee by up to £2,000 by listing with Yopa.
Tip 2 Sunday is the cheapest day to move, at least when it comes to removal costs.
Tip 3 Rather than pay for postal redirection, be proactive in updating contacts with your new address.
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Stamp Duty Land Tax (SDLT) is a tax on property purchases in England and Northern Ireland. If you are buying a property in Scotland you would pay Land and Buildings Transaction Tax and in Wales, Land Transaction Tax if the sale was completed on or after 1 April 2018.
Generally, the most expensive aspect of selling your home will be the fee you pay to an estate agent to market and sell the property on your behalf. This will generally cost around 1.5% of the total property price, although fees can range from 0.75-3% depending on the agent and the type of contract you sign with them. It is also important to note that unless you have a ‘no sale, no fee’ agreement in place you may end up having to pay an agent who isn’t able to sell your property.
Alternatively, the option of an online or hybrid estate agent like Yopa is a popular middle ground. They take a fixed fee approach to the sale and this includes all the services you would expect from an estate agent such as in person valuations, photographs, creation of listings, hosted viewings and support with buyer negotiations.
When you are in the process of buying a new home, you should always arrange for an inspection of the property by a qualified surveyor even if the property appears to be in a good condition. This is particularly important if you are buying at the top end of your budget and will not have a lot of money left over for expensive repairs.
A solicitor or conveyancer is required for the legal transfer of property ownership from you to your buyer. Depending on the size and value of the property you are selling and the complexity of the sale, their fee will vary. Some solicitors and conveyancers will charge a fixed fee whilst others will charge a percentage of the total property value.
Before they loan you any money to purchase a property, your mortgage lender will assess the property to determine its value. Some lenders do not charge a fee for this valuation, some will charge anywhere between £150-£1,500 depending on the value of the property. The mortgage valuation is different to the survey and will not highlight structural issues and maintenance issues.
The mortgage arrangement fee is the fee charged by lenders to set up your mortgage and covers their administration costs. Fees vary hugely and can be in the region of £1,000 – 2,000. It is possible to add this amount to the mortgage loan you have taken out, but of course this will add to the time it takes to pay back the loan and incur more interest.
This is the fee charged to cover the lender’s cost of moving the money they are loaning you across to the solicitor ready to be paid to the vendor. Costs will generally be in the region of £40-£50.
Unless you have a spare heavy goods vehicle and plenty of strong arms to spare, you are likely to need the help of a removals company when you move home, or a ‘man and a van’ at the very least so always remember to factor in the cost and allow plenty of notice to get the date you need.
Costs can vary hugely depending on the type, amount and value of the goods you need to move plus the location and distance moved. It would generally cost about £1,200 for removals from a typical three-bedroom property to a new home within 50 miles. However, removals costs can vary from around £250-£4,000 so make sure you get plenty of quotes and budget accordingly.