Moving house – A must-read guide for managing your money
Buying a new home involves many cost s and charges – solicitor fees, stamp duty, surveys… the list goes on. Being financially prepared for a move is every bit as important as planning for the logistics and practicalities of a move. Here’s how you can be prepared for the many costs that a move demands, as well as how you can save money here and there.
List all the costs that you face
Here’s a rundown of the costs associated with moving:
Mortgage arrangement fee
Ranges from £0 – £2,000 (so choose your mortgage provider carefully)
- A Valuation Report – £200
- A Homebuyer’s Report – £250
- Full Structural Survey – £700 (Optional)
- Electrical inspection of wiring – £100 (Optional)
- Ranges from between £500 – £1,500
- Up to £125,000 0%
- £125,001 – £250,000 1%
- £250,001 – £500,000 3%
- £500,001 – £1,000,000 4%
- £1,000,001 + 5%
De-clutter and top up your piggy bank
De-cluttering can make move day a whole lot easier, and you can even make money whilst doing it (check out our blog on this very subject: Moving? Do yourself a favour and declutter).
Don’t spend a bomb on packing materials – get them for free
Packing materials can rack up quite the bill, after all, you’re going to need boxes, tape, bubble wrap and polystyrene, and that’s just for starters. This can all add up – but you can save yourself a pretty penny or two by asking local businesses and shops for boxes, and switching bubble wrap and polystyrene with towels and cloths.
Book your removal service early
Booking your man and van ahead of time can save you a serious amount of money as compared to booking at the very last minute – so try to get in touch as soon as you have a set date from your estate agent.
Compare your energy bills
Given that you’re moving, now may be the time to review your energy suppliers. On average, an energy switch can save you as much as £200 per year (Gov.UK).
Seriously consider having a full survey undertaken
Whilst your mortgage provider will undertake a survey to ensure the property is fit to lend on, basic surveys are exactly that – basic. To avoid any unexpected and expensive repair bills, it’s advisable that you opt for a comprehensive survey undertaken by a Chartered Surveyor.
Work through the contents of your fridge, freezer and cupboards
In the run up to move day make sure that you work through the food items that currently line your cupboards and that are packed into your fridge and freezer.
Finally – our top tip for saving on a removal service – use Van Man York Removals
Now that you’re all set to save a good few pounds on moving, it’s time to discover a van and man York company that is incredibly competitively priced.