Ready to buy your next home? Here are the costs of moving house you'll need to factor in, including moving day payments and other important considerations.
What are the main home moving costs?
The main costs of moving home include the following:
- Stamp Duty Land Tax
- Solicitor/conveyancer fees
- Survey costs
- Mortgage fees
- Deposit fees
- Valuation fees
- Estate agent fees
- One-off costs
1. Stamp Duty Land Tax
You must legally pay Stamp Duty if you buy a property or land in England unless it costs less than £250,000. If you're a first-time buyer, the limit is £425,000. How much Stamp Duty you pay depends on your circumstances, the property price and location. This applies to freehold and leasehold properties bought outright or with a mortgage.
Learn more about Stamp Duty, how the rates are calculated and how it works in Scotland and Wales in our handy guide.
2. Solicitor or conveyancer fees
Solicitors and conveyancers handle the legal side of the property purchase, from drafting contracts and checking the paperwork to finalising the sale.
If you hire a solicitor or conveyancer, ensure you obtain a quote upfront. They may charge a fixed fee (usually a percentage of the sale price) or charge you by the hour. Costs vary but are typically between £500 and £1,500 (including 20% VAT).
Your solicitor or conveyancer can also conduct local searches to check for plans or potential issues (this can cost an additional £250 to £300).
3. Survey costs
We recommend surveying your new home before moving to ensure no significant issues. There are three types of surveys available:
• Condition Survey (Level 1). This straightforward survey overviews the house's general condition and typically costs between £300 and £900.
• Homebuyer Survey (Level 2). This is ideal for properties under 50 years old and includes the surveyor's advice on repairs and maintenance; a Level 2 survey can cost between £400 and £1,000.
• Building Survey (Level 3). The Building Survey (Full Structural Survey) provides an in-depth inspection, costing between £600 and £1,500.
4. Mortgage fees
If you take out a mortgage to buy your new home, you'll need to factor in these extra costs:
• Booking fee. This upfront payment confirms you've secured your mortgage and can cost between £100 and £200; it's non-refundable if the purchase falls through.
• Arrangement fee. This is the fee your bank or building society charges you to set up your mortgage, costing between £1,000 and £2,000.
5. Deposit fees
The deposit is the amount you put towards the cost of your new home. Usually, the more considerable the amount, the better your mortgage options and the lower your interest rate. You typically need 5% to 10% of the purchase price for a mortgage deposit.
6. Valuation fees
When applying for a mortgage, the lender will evaluate your home to ensure it's worth what you pay. It's not an in-depth structural inspection but a general overview. Valuation fees can cost between £150 and £800 (although not all lenders charge them).
7. Estate agent's fees
The seller pays estate agent fees, typically 1% to 3% of the sale price (plus 20% VAT). Online estate agents usually charge a flat fee.
8. One-off costs
One-off costs may include new carpets or furniture for your new home. If you have pets, you may need to pay someone to look after them while you move.
Moving day payments
On moving-in day, you may still need to cover a few payments, like removal costs and mail redirection.
Removal costs
You could rent a van and take care of the heavy lifting yourself or hire a removal company to do this for you. If you choose the help of a removal company, ensure you get quotes beforehand. Removal costs can range between £300 and £600.
Mail redirection
Royal Mail makes redirecting your mail easy. A breakdown of costs can be found online.
Other considerations
Other considerations include storage, packing materials, cleaning and building management fees.
Storage
Need a place to store your belongings while you wait for your new property to be ready? The storage cost depends on the space you need, typically starting at around £25 for a 50 ft² unit per week.
Packing materials
Factor in the costs for boxes, bubble wrap, tape and labels you'll need for packing.
Cleaning
Hiring a cleaner to clean your property can cost between £100 and £350; you might want a cleaner for your old home, to freshen up your new place or both.
Building management fees
If you're buying a flat, you may need to pay a fee for maintaining communal areas like hallways and gardens.
Browse our collection of new build homes across the UK. They're energy-efficient, sustainable and equipped with contemporary features. They also have a 10-year warranty and a 2-year fixtures and fittings warranty. If you buy your new home with us, you'll access fantastic home buying offers to help you move.
Start your journey today with David Wilson Homes.
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