The cost of moving home: Have you budgeted properly?

The cost of moving home

When you’re selling a house and moving to a new property, there are certain expenses that will be pretty obvious, such as estate agent and lawyer fees, and of course the cost of hiring a removal van to take you to your new home. But what is the cost of moving home?

However, according to a new survey revealed this week by Lloyds TSB, the cost of moving home can actually be more substantial than you might have thought. It said that for some 71 per cent of buyers, there are £2,500 on average in additional costs to factor in, and most of these are things you might not have thought of in advance.

So what should you be budgeting for? Quick Move Now takes a look at some of the most common expenses that can arise in the first few weeks after your move-in date.

Decorating
When you move into a new house, you might want to make changes that will make the home more you. However, while these are normally going to be budgeted for, there are other jobs that you might not have considered that are essential and lead to an unexpected payment.

For 31 per cent of people, the main changes that will need to be made will be wallpaper and paint. It can be difficult to spot any unsightly stains or marks on a wall when you’re visiting a property, but once you move in, there might well be some updates you’ll want to make, and this can leave you with a dent in your budget. It’s important to always consider this as a possibility.
In addition to these simple updates, there are also more substantial alterations that can rear their heads when you come to move in. Some 15 per cent of all people said they have had to change their carpets when they move in, while six per cent have even had to replace or renovate the kitchen, which can be a pricey issue.

There are, of course, ways to avoid these costs in the first place. When you’re viewing a home you want to buy, the best tactic is to take your time, and make sure to look at the paint jobs and wallpaper, as well as other areas, to consider what might need to be done after you move in, allowing you to better budget.
In addition, it can be good to arrange a second viewing after you’ve decided you would like to purchase a home. On the second visit, you’ll be able to pay closer attention to the interior of the home, which will allow you to compile a list, and in turn a budget, for what will need to be done.

Efficiency
While it can be something relatively easy to see if changes to the interior of the property need to be made, one thing that might not become obvious until after you’ve moved in is the energy efficiency of the home.

For five per cent of people, the central heating needs to be totally replaced in their new home, which can cost thousands of pounds, while another five per cent said that it will cost them to replace the windows. Double glazing is not cheap after all.
Because these are costs that are perhaps not easy to spot off the bat, it can be best to consider the possibility when you’re moving home. Budgeting a little more than you might have considered it would cost you to purchase a new property can mean you don’t get left with a shock bill not long after you’ve moved home, leaving you out of pocket.

This content was written by Quick Move Now
Published on 15th October 2014
Last updated on 19th April 2017

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