Budgeting for moving houseDecember 22, 2014
Deciding to relocate to a different city, placing your first foot on the property ladder or simply just moving to a different area is undoubtedly a nerve racking and exciting time for anybody. More often than not, a person will imagine their dream home or apartment in its fully furnished and purchased state, but it also important to bear in mind how much a change of property can cost. Aside from the nice round ‘final’ figures we are shown in the estate agent windows, there are a number of ‘hidden’ costs that make up the process of moving house. Here are a handful of important things to remember whilst budgeting for a new residence:
Save for a Deposit
A deposit is the first vital step for securing your future in a new home and the earlier you begin to save up money, the less uncomfortable it will feel when the time comes to hand it over. A potential buyer who is able to pay their deposit immediately appears to be serious and in control of the situation, and you will be surprised by just how much you are able to save when you set your mind to a goal or cause.
A cost that perhaps not every home buyer is aware of is that houses which breach certain thresholds with regard to cost and value are required to pay Stamp Duty Land Tax (also known as SDLT). This tax is charged at different percentages depending on the price of your home or of the land that you have bought, and according to the 2014 Budget statement, the rules have just changed. Using a SDLT calculator helps you budget for moving house.
Multiple Service Fees
It is the nature of business that when you are in the process of moving home, every service of which you require help will be given with its own individual fee attached. A prospective home buyer must be prepared to budget for surveyors fee, legal fees, mortgages fees and estate agent fees, all imperative services that cannot be overlooked or ignored and can range anything from £100 to £1,000. Much like the advice given with regards to saving up for a deposit, having a constant mind for the cost of all these services will help you in the long run; always remember to keep a record of services used so you are not confronted by a forgotten charge later on.
The Cost of Removal
So you have finally secured your new home, the bulk of service fees have been paid and you are now ready to move in and begin your new journey. The only task left to arrange is the removal of all your belongings from the old residence to the new. Depending on the size of your old home and the amount of belongings you need to transport, a good quality removal service can cost anywhere from £500 to £2000, and it is vital to enlist the services of a highly reputable firm such as United Removers for the task. Transporting your possessions from A to B safely and efficiently is the final step in the process, and will allow you to begin to enjoy life in your home. Simply contact our experts at United Removers for further information about the removals services we provide