In the age of house prices rising at a dramatic rate and inflation causing expense in every aspect of society, what is the real cost when it comes to moving home? It is now a lot more difficult to actually own your own home now due to more hoops to jump through, and trying to raise the finances in these times is proving to be an impossible task. So, what does it take now to get onto the property ladder and are there ways around it without having to spend so much money? Let’s try and examine this.
The Costs
The amount of hidden costs in moving home is enough to put in the back of a removals truck! We all think that we need to go down the estate agents route if we need to sell our home, but the truth is, you don’t actually need to, and there are plenty of property websites. But of course, the estate agents will try and warn you away from these. They will argue that there are dangers of going online to sell your property, but they do have a point! As the online agents will not bother with so-called “time wasters” and as well as this, the security issues that come with dealing with a faceless online company are a cause for concern.
When buying a home, the single biggest cost is likely to be stamp duty, which varies depending on what part of the world you live in. For example, you live in the UK, stamp duty on a £275,000 home would be £8,250! But there are exemptions, but that usually depends on the cost of your home. However, by going through an estate agent, they will tell you if you are exempt from stamp duty.
Moving House
After all the stresses that come with buying a home, the last one is normally the most physically demanding. You can choose to try and move the items yourself, but this can prove to be a logistical nightmare, and so you are better off hiring professional movers to transport everything over the space of one day. They can do the work for you for a flat rate instead of you having to pay for the van and the fuel, as well as accounting for unexpected stress and hassle. All you have to do is figure out where to put everything when it arrives! The cost varies depending on the amount of stuff you have to move, but if you are trying to cut back on cost, statistically the beginning of the week is quieter for removal firms, so they may be prepared to offer you a cheaper deal.
The last costs in moving home are the insurance, which is essential, but try and shop around for a good deal as insurance companies can change their rates. But there are different factors which affect the cost of insurance, such as the location that you live in, or if it is a high crime area, etc.
Moving house is one of the most stressful things you can go through and with the amounts of issues that come with finding a home, paying for the home, and moving there, make sure it’s a nice home!
