Hence, if you are looking to move houses, one of the first things you should take into consideration is your budget. Not having enough money to fund a house move, after all, can end in total disaster.
However, before you can determine if you have the right amount for your big house move, it would be vital for you to know what exactly you will be spending your money on, in relation to your house relocation.
To help you out, we’ve come up with a list of the most common, as well as some of the most unexpected moving expenses you may encounter.
What Makes Up The Cost Of Moving House?
When you say “moving expenses,” most people think only of the expenses you incur during the task of physically moving your belongings from one location to another. However, the truth is, the cost of moving a house is made up of several different expenses that one may encounter before, during, and after relocating their things into a new place.
Here are some of the things that a person who is moving house would typically have to pay for:
Whether you are selling or purchasing the property, a real estate transaction will almost always have taxes involved. Such taxes will be computed based on the cost of the property you are selling or purchasing, among many other things.
You may also be given tax privileges if you are purchasing a house priced below a standard amount, or buying a home for the first time.
Estate Agent/Conveyancer/Solicitor Fees
Essentially, you will also be paying for the services of a middleman who will handle the negotiations, mediation, and coordination of your real estate transaction. You may also rely on them to help you with other errands connected to the transaction and provide you with the necessary legal advice.
A solicitor will charge you for the services you need from them, while an estate agent will require you to pay a percentage of your property price for their services.
If you are preparing to sell your house, here are some tips you may find useful.
Before you can sell or purchase a home, you will want to know if it is in good condition and if it is in the market for a reasonable price. By hiring a surveyor, you can determine just exactly how much the property in question costs.
Such services will cost anywhere between £350 or $455 to £700 or $910, depending on the type of service you avail.
Property Costs (Building, Purchase, or Deposit)
When you are purchasing a house, you may either pay for the property outright or set a small deposit which signifies your commitment to buying the property down the line. A deposit may cost anywhere between 5% to 50% of the property price, depending on what you and the seller agree upon.
Meanwhile, if you are building your own house, construction costs will cost you an average of £348,000 or $451,990. This amount may either go up or go down, depending on the requirements of your home construction.
Lastly, if you are renting a house, you will also be required to make security, tenancy, and holding deposits to express your commitment to leasing a property.
If you are purchasing or renting out a property that needs a bit of work, then you will have to to pay for renovation or painting services as well.
Additionally, you may want to avail of professional cleaning services. A deep clean is ideal, whether you are moving in or moving out of a home.
Moving Company Fees
Although this is not a requirement for every move, the services of a moving company are almost always essential in making the task moving easy and hassle-free. They can help you pack, move, unpack, and arrange your belongings at your new home.
For such moving services, you may either hire a removals company or a man and van, depending on the size of your move. Furthermore, the fees for such moving services are often broken down based on the following factors:
Distance between the point of origin and destination
The volume of items you plan on moving
The length of the job
The complexity of the move
The services you choose to acquire (i.e., packing, transportation, arrangement, etc.)
The schedule of your move
Change of Address and Postal Redirection
When you move houses, it will be essential for you to to make sure your mail and other subscriptions have been redirected. Changing your address on company databases will not cost you, but redirecting your mail and having your address changed on legal documents will cost you some money.
Here is an excellent list for who to let know your address changed.
Utility Connection or Re-connection
You will also want to ensure that utilities like power, gas, and water, among many others, are already up and running before you move into your new home. This is especially crucial if the previous tenant failed to pay the bills or had the utilities disconnected.
Connection and re-connection of these utilities may cost you some money.
If you have an existing renter’s insurance, home insurance, or contents insurance policy, your insurance provider may allow you to transfer it over to your new house. However, if you may not, you will have to cancel your existing one and apply for a new one for your new place. Whichever you end up doing, though, this may cost you some money.
Aside from this, you will also want to purchase transit or moving insurance to keep you and your belongings safe from any damages that may occur during the move.
Miscellaneous Moving Fees
Aside from the expenses mentioned above, there are also miscellaneous and surprise moving fees you may have to spend some money on.
First on the list would be the packing materials. If you are not paying for a removals company, you will still need to pay for moving boxes, tape, plastic wrap, bubble wrap, wrapping paper, and many more!
On moving day, you may need to spend on food, temporary lodging, parking fees, toll fees, and petrol. Additionally, you may also need to spend on admin fees like the photocopying of documents and key cutting.
If you are planning on renting a self-storage unit, that will also fall under this category. Read about self-storage units and find out if you need them in this helpful resource.
Final Thoughts on Moving Costs
Moving is a stressful event that costs a significant amount of money. It makes sense to do what you can to save wherever possible. You would also be wise to do the things necessary to make for a more smooth moving experience. Hopefully, you have found this guide on moving costs to be helpful.
About the author: The above article on moving costs was written by Marvin Margusara. Marvin is a moving expert that works for WhatStorage.