The cost of moving house

The cost of moving house is significantly higher than expected for many people. In fact, research suggests that around 85% of people underestimate how much it will cost them to move.

There are many things to consider when calculating the cost of moving house. From estate agent’s fees to removal fees, surveyor’s costs to stamp duty. This guide will help you to calculate how much it will cost you to move house, and our handy checklist will ensure you’re in complete control of your move.

What is the average cost of moving house?

The average cost of moving house is currently £10,349.14, based on the UK’s average property price of £295,903.

However, many of the services that contribute to this overall cost are based on the price of the properties you are buying and selling. The more expensive the properties, the higher the costs. If you are buying and selling detached properties in England, based on the current average cost of a detached property, you can expect the cost of moving house to almost double to £21,263.79. If the property you’re buying is a second home or an investment property you will also need to factor in an additional 3% stamp duty, which would increase your stamp duty costs from £2,295.15 to £11,172.24 for the average UK home.

Cost of buying a house

(based on UK average property price)

Stamp duty (assuming this is not a second home or investment property)	£2,295.15
Property survey cost	£500
Conveyancing cost	£1,000
Valuation fee	£227
Total buying cost for average UK property	£4,022.15

Cost of selling a house

(based on UK average property price)

Estate agent fees	£4,190
Conveyancing cost	£1,000
EPC	£80
Total selling cost for average UK property	£5,270

Other moving costs

Removal costs	£1,000
Post redirection for 6 months for 2 people	£56.99
Total other moving costs	£1,056.99

How much are estate agent fees?

Estate agency fees are likely to be your biggest cost when you sell a property. High street estate agents are likely to have the best local knowledge, which will help when finding a buyer for your property. A high street estate agent is likely to charge a fee of between 1% and 3% of your agreed sale price.

It is reported that the average estate agent fee is currently 1.18% plus VAT, so if you sell for the UK average property price of £295,903, you’d be looking at estate agency fees of around £4,190.

Some estate agencies, especially internet-based companies, have started to offer fixed-fee services that are likely to be significantly cheaper than commission-based fees. However, it’s important to note that often a fixed-fee will need to be paid upfront and may be payable whether or not you secure a buyer for the property. You may also be required to pay an additional fee for services such as photography, floorplans and accompanied viewings. If you choose to use a national fixed-fee estate agent, you should also ensure they have a good knowledge of the local property market and are able to show you examples of similar homes they have sold in the area.

Before you can advertise your property, you will need to get an Energy Performance Certificate (EPC). Most estate agencies will offer this as part of their service, but an EPC can also be arranged independently if required. You can expect to pay around £80 for an EPC.

How much will my mortgage cost me?

When considering the costs associated with a mortgage, many people will only consider the affordability of their monthly repayments. There are also upfront costs associated with securing a mortgage that should be taken into account. These may include:

• Mortgage arrangement fees – These are fees charged by your mortgage lender to cover their administrative costs. They may also be referred to as product fees or application fees. You can expect to pay anything up to £2,500 for this fee, but around £1,000 is average for a mortgage with an attractive interest rate. It may be possible for this fee to be added to your mortgage borrowing, if you would rather.
• Valuation fees – As part of their decision-making process, your mortgage lender will arrange for the property to be valued. They will usually charge a fee for this valuation, though some lenders will include a free valuation to incentivise potential customers. The purpose of the valuation is to ensure the lender will be able to make their money back on the property should it need to be repossessed. If you’re required to pay for the valuation, you can expect a fee of £200-400. This fee will usually be payable upfront.
• Mortgage broker/financial advisor fees – If you’re using a mortgage broker or an independent financial advisor to secure a mortgage, you may be required to pay a broker’s fee. If a broker’s fee is payable, it will usually be around £500 and will be payable upon completion of the purchase.

How much will I have to pay a solicitor when I move?

When buying or selling a property, you will need to pay a solicitor to handle the legal process of transferring property ownership. This process is known as conveyancing. You can expect to pay around £1,000 in legal fees for each transaction, so if you’re buying and selling simultaneously you can expect legal fees of around £2,000.

How much stamp duty will I have to pay?

Stamp duty is the tax you pay to the government when you buy a house. You will be expected to pay it to your solicitor ready for completion. Your solicitor will then pay the stamp duty owed to HM Revenue & Customs. Stamp duty is calculated as a percentage of the property purchase price. The more expensive the property is, the higher the percentage payable. You can use the table below to help you calculate how much you will need to pay.

Property purchase price	Stamp duty rate for main residence	Stamp duty rate for second home or investment property
Up to £250,000	0%	3%
The next £675,000 (the portion that takes you from £250,001 to £925,000)	5%	8%
The next £575,000 (the portion that takes you from £925,001 to £1.5 million)	10%	13%
The remaining amount (the portion that takes you above £1.5 million)	12%	15%

How much does a house survey cost?

More in-depth than the simple property valuation required by a mortgage lender, a property survey will alert you to any areas of the property that require attention. A surveyor will look for issues such as damp, roofing concerns and structural problems. You can choose from several different levels of property survey and can expect to pay between £400 and £1,000.

How much does a removal service cost when moving house?

It’s surprising how many people forget to add removals into the budget when considering the cost of moving house. Some people will choose a DIY approach, hiring a van and moving the contents of their home themselves. However, for other, the convenience of leaving the packing up and moving aspect to trained professionals is something they wouldn’t contemplate doing without.

Packing and removal costs will vary depending on the size of your home and the level of service you choose, but you can expect to pay somewhere between £300 and £1,000.

What other costs will I need to think about when I move house?

You’ll also need to consider costs associated with the new property after you move. If, for example, you plan to move to a larger property, you can expect higher council tax payment, more costly utility bills and higher home insurance premiums. You should also consider any redecoration or renovation work you plan to do in your new home, as this will also need to be budgeted for.

The cost of moving house can vary significantly. The biggest factor in calculating the cost of moving house will be the price of the property you are selling and the price of the home you are buying. Outside of that, it will depend on the level of services you choose. You can shop around for things like removal services, insurance and utility bills, and negotiate with estate agents to make sure their fees are competitive. You should research service providers thoroughly and read independent reviews to ensure you only engage with trusted companies.

Find out more about:

• How to speed up the sale of your house
• Private house sale – no estate agent
• How to stop house repossession
• Selling a house at auction
• What is probate? – A step by step guide
• Do you need an Energy Performance Certificate to sell a house?
• What is a property chain?
• A guide to downsizing your house
• What to do if your house sale falls through
• House part exchange – how does it work?