Are you planning on moving property? Moving property is great fun but can be stressful at the same time. The fun part is choosing a property, going for viewings and deciding on anything new that you want to purchase – a new sofa, a new tv for example. The not-so-fun part is working out the costs of your move.
When moving, there are many costs which you need to consider before committing to a new property. You want to take into account the selling costs of your current property, stamp duty on your new property, removal costs, insurance costs and the costs to clean your new property before moving in https://highlandparkhousekeeping.com/ can give you more information on this.
In order to calculate the costs of moving, we recommend putting a google spreadsheet together. This way you can tally up what everything is costing you and check that you aren’t being overcharged for anything. If you can, speak to your friends and family members about the costs they faced when moving and ask them to go over your document to make sure they think it’s accurate and fair. This will also help take some of the stress out of moving.
To help prepare you for buying a property, below are our tips on the costs to consider before moving.
To start with, get some estimate of the removal costs. Whether you are moving from a rented property or moving from a home you own, you will still need to build these costs into your spreadsheet. Removal costs vary depending on what you require them to do. Hiring a man with a van is cheaper than if you need them to come into your property and box everything up – although this can save you the time and hassle of having to do it yourself.
You’ll almost certainly need to have insurance when you move property. Depending on what property you move to will depend on the type of insurance you will need to take out. To start with, content insurance is a must. This covers all your items in your home should anything bad happen such as a fire or burglary. If you have a family, life insurance might be worth taking out as this ensures you have money coming in should anything awful and unfortunate happen to yourself or your partner. Other insurance to consider is building insurance or critical illness insurance.
Stamp Duty Costs
Stampy duty is often one of the biggest costs you will face when buying a property. You have to pay it unless you are a first-time buyer – this changes from country to country and depends on the value of the property – talking about value, the amount you will pay on stamp duty will vary depending on the cost of the property you are buying. If you are unsure of how much you will be paying, speak to your mortgage broker or the estate agent as they should be able to assist with this.
This is an absolute must whether you are buying your first property or moving from the one you own. The surveyor’s fees will vary depending on the type of search you want them to perform and the company you choose. Make sure you get a few quotes before deciding on which one to go for as the prices can vary from company to company. What surveyors do is inspect the property and make sure it’s in good condition. They will give you a report on any future costs that may occur and any current damages you should be aware of. They are very in-depth and can save you a lot of money in the long run. If you are selling your own home, you can almost guarantee that the buyers will have someone over to survey your property before they buy.
Mortgage broker fees
If you are getting your mortgage through a mortgage broker, it may be that they have a selection of fees that you will have to pay in order to go through them. Some will build this into the costs of your mortgage, meaning you won’t feel the costs however some may charge this upfront when you complete the move. Speak to your mortgage advisor about their fees in order to get an estimation of how much it will cost you to use them.
What costs have you had to pay that you think will benefit our readers from knowing? Which of the above costs did you find the most expensive? Is there anything we are missing that you think should be included? Let us know in the comment box below.