How Do I Move House on a Budget?

A Home Buyers Guide

We know moving house can get stressful, but it doesn’t have to be. At eastbrooke homes, we want your move to be as smooth and stress-free as possible. We have created a cost guide for moving homes so you have one less thing to concern yourself with, keeping organised will make make a world of difference so read below for more information.

Stamp Duty Land Tax

When purchasing a home in England, Wales, or Scotland, it’s essential to factor in the Stamp Duty Land Tax (SDLT), which is the biggest single cost of moving home. The amount you pay depends on the property value and whether you are a first-time buyer.

Solicitors

While you have the option to handle the legal process yourself, hiring a solicitor is advisable to ensure a smooth and legally sound transaction. Obtain a quote before any work is carried out, as solicitors may charge a fixed fee or by the hour, including costs like Land Registry and Local Authority Search Fees.

Mortgages

Getting a mortgage is necessary if you’re considering a new home purchase. Consider consulting independent mortgage advisors to explore your options and understand green mortgages. Additionally, choosing a recommended solicitor can ensure smooth service.

Surveyors

Your mortgage lender will usually require a survey. Survey costs vary, and options include a Valuation Survey, a Homebuyer’s Report, and a Structural Survey, with associated costs ranging from £150 to over £1,000 plus VAT.

Removals

If you need assistance with moving, it is recommended that you request quotes from multiple removal firms, as prices can differ. Alternatively, consider van hire costs, fuel, and insurance if you opt for a self-removal.

Living in Your Home

When budgeting for your new home, factor in ongoing living costs like energy bills, council tax, and insurance. Ensure all monthly outgoings, including non-essential expenses, are considered when managing your monthly mortgage repayments.

One-Off Costs

Anticipate additional one-off costs associated with relocating. Consider expenses like new carpets or furniture; if you have pets, plan for potential accommodation costs during the move. Having a contingency fund is a wise approach.

Interested?

If you want new homes across Eastleigh Borough, you can start your search today here