The cost of moving house

The cost of moving house is significantly higher than many people expect. 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 £8,895.99, based on the UK’s average property price of £281,913.

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 the UK, you can expect the cost of moving house to rise to an average of £18,436.99. 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 £10,053 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)	£1,595
Property survey cost	£500
Conveyancing cost	£1,000
Valuation fee	£227
Total buying cost for average UK property	£3,322

Cost of selling a house

(based on UK average property price)

Estate agent fees	£3,327
Conveyancing cost	£1,000
EPC	£80
Total selling cost for average UK property	£4,407

Other moving costs

Removal costs	£1,110
Post redirection for 6 months for 2 people	£56.99
Total other moving costs	£1,166.99

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 £281,913, you’d be looking at estate agency fees of around £3,327.

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 have 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 you can an EPC 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 your mortgage lender charges 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. Sometimes you can add mortgage fees to your mortgage borrowing, if this is something you would prefer.
• Valuation fees – As part of their decision-making process, your mortgage lender will want to value your property. They will usually charge a fee for this valuation, though some lenders will include a free valuation to incentivise potential customers. This valuation will ensure the lender can make their money back if they need to repossess the property. If you need 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 need 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 need 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 transporting 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. According to Compare My Move, you can expect to pay an average of £1,110.

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 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 may also want to redecorate or renovate your new property. You should factor these costs into your moving budget.

The cost of moving house can vary significantly. The biggest factor in calculating the cost of moving house will be the price of the properties you are buying and selling. 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. Remember that you can also negotiate with estate agents to ensure 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:

• What is gazundering?
• Should I get a property survey when I buy a house?
• What is a structural survey?
• When was my house built?
• What is a memorandum of sale?
• What are title deeds?
• What is a property bridging loan?
• Can I sell my house with an ongoing neighbour dispute?
• My house is not selling – what can I do?
• A guide to property indemnity insurance