Add Property Value With A Simple Step

This is the perfect time of year to take care of your radiators and make sure your home is well set up for what comes next this autumn and winter. At Williams of Petersfield, we are advocates of caring for your radiators, as this brings short and long-term benefits to your home.

If you need guidance on selling your home, or any other aspect of the housing market, we are here to help you.

Think about property value at all times

Property Energy Professionals Association (PEPA) has spoken about the importance of Energy Performance Certificate (EPC) ratings on property prices. The organisation has examined research carried out by Nationwide and said that properties holding an A or B rating carry a value that is around 5.2% greater than properties with an F or G rating.

With PEPE stating the average value of property stands at £280,000; this could see an additional £14,500 added to the house price.

Andrew Parkin, PEPA Chairman, says: “With property and energy prices continuing to rise and with increased global focus on energy efficiency and carbon emission reductions, the value of improving energy efficiency in properties is only likely to increase. It makes sense for homeowners to invest in an EPC now to find out what opportunities there may be to enhance the value of their property and reduce energy bills without waiting for the time when they may wish to sell.”

You can add value to your home

Andrew Harvey, senior economist at Nationwide, said: “Decarbonising and adapting the UK’s housing stock is critical if the UK is to meet its 2050 emissions targets, especially given that the housing stock accounts for around 15% of the UK’s total carbon emissions. With this in mind, we used our house price data to explore the extent to which owner occupiers pay a premium or discount for a home due to its energy performance rating. To do this, we included energy efficiency ratings from [EPCs] alongside the usual property characteristics data we use in our House Price Index.”

Andrew Harvey continued by saying; “This allowed us to control for other factors that can influence the value of a house or flat and isolate the impact of energy efficiency ratings alone. Government analysis based on the latest English Housing Survey suggests that if all eligible energy improvement measures defined in the EPC methodology were to be installed in the current stock of dwellings, 98% would be rated A to C, with just 2% in band D or lower. Installing all the recommended energy improvement measures in homes currently rated F or G would result in an average saving of around £1,780 per year.”

Andrew Harvey concluded by saying; “However, the installation cost for such measures is also high at an estimated £25,800, meaning a payback period of around 14 years. The government’s current aspiration is to upgrade as many homes as possible to band C by 2035. The average cost to improve a property to an energy efficiency of band C is c£8,100, though the cost is considerably higher for properties rated F or G. However, the pace of energy efficiency improvements is relatively slow given the scale of the challenge. For example, insulation installation is well below the 2012 peak, the last year of the Carbon Emissions Reduction Target and Community Energy Savings Programme. This suggests a need for further incentives to help decarbonise homes.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Will Feng Shui Help You Sell Your Home?

When it comes to selling your home, it is natural to do whatever it takes to connect with buyers. At Williams of Petersfield, we are pleased to say we help homeowners present their house in a way that enhances its look, and makes it easier for buyers to connect with the property.

In recent times, there has been a focus on ways for homeowners to steal an edge in the market, and for some, Feng Shui has been mentioned!

What is Feng Shui?

1. Feng Shui is the ancient Chinese practice of arranging your home to promote good luck and abundance

2. It was originally used in homes, but can be applied to other places like offices or even cars

3. The goal of Feng Shui is to create a space that promotes happiness, health, and prosperity for its inhabitants

4. There are 3 main principles behind Feng Shui – Chi (energy), Yin Yang (opposites) and Ba gua (8 trigrams)

5. The way you arrange furniture in your living room should take into account these three principles so it’s balanced with the outside world

6. For example, a couch on one side of the room against a wall will block chi from flowing freely through the front door

Are you ready to change the look and layout of your home?

Research carried out by Manor Interiors suggest that 86% of property buyers said the initial layout and design of a property is important to them. Other findings include:

  • 70% of respondents said this influenced their most recent property purchase.
  • 38% of respondents said they made further changes to their new home as soon as they moved in.
  • 72% of respondents said they paid more for their home because they liked the design and layout.
  • On current market values, Manor Interiors believes a Feng Shui premium could add as much as £19,743 to a property value, based on the current average value being £256,405.
  • They also believe a negative Feng Shui state could reduce the property value by as much as £25,641
  • Manor Interiors state the difference between good Feng Shui and bad Feng Shui in a home as being as much as £45,384

Separate analysis from the International Journal of Housing Market and Analysis states positive Feng Shui could add as much as 7.7% value to a home, while poor Feng Shui could lower property value by 10%.

Farhan Malik, CEO of Manor Interiors, commented: “While you may or may not be completely convinced by Feng Shui, there’s no doubt that many of us will relate to the core principle of perfecting the design and layout of our home if only to suit our own personal tastes. Doing so can transform how we think and feel about our home and so it can certainly make for a happier home life and a greater appreciation for our property. It’s also understandable that this plays a role when looking to buy, both in terms of the homes we opt for and the price we’re willing to pay and research shows that positive Feng Shui really can have a substantial impact on property market values.”

Farhan Malik also said; “Whether you buy into it or not, it’s a particular focus of many housebuilders who market new build developments to foreign buyers where Feng Shui is deep-rooted within the culture of their native country. When furnishing these developments, we often have to consider how the furniture and layout of an apartment or house will not only impact the Feng Shui but also how we can maximise positive energy to increase appeal once it does go up for sale or let.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Why Are People Moving?

At Williams of Petersfield, we are pleased to say we speak with many people engaging the housing market. We like to help people, and it is easier to help people when we know what they are looking for.

This is why we are always keen to speak with people and find out why they are moving. This information is invaluable, and it provides us with a great deal of help in assisting buyers and vendors.

We also pay attention to the latest studies in the industry. A lot of people have moved home recently, and there have been many influencing factors. If you want to be informed as to why people are moving home, contact Williams of Petersfield and we will be happy to help.

The pandemic has changed life for many people

GHD, a professional services company, carried out a survey and the findings shine a light on how many people are looking to move, related to the pandemic.

Some of the key findings include:

  • Up to 40% of respondents, in the UK, are at the very least considering moving home to a different location
  • Of respondents currently living in an urban area, 51% said they were looking to move
  • Of respondents currently living in a city centre location, 48% said they were keen to move
  • Of the respondents living in a suburban area, 34% have highlighted a desire to move
  • Of the respondents living in a rural area, 28% expressed a desire to move
  • 34% of respondents expect more remote working following the pandemic
  • Of this group, over half didn’t work from home before the pandemic started

The most commonly cited reasons to move include:

  • To have more space to allow easier remote working
  • To live in an aera which had cleaner air
  • To have better local access to nature

The survey showed people from the UK were more intent on moving than people living in Singapore, New Zealand, Australia, Canada and the United States of America.

The survey spoke more than 8,000 people in these countries, and over 1,000 respondents were based in the UK.

We are here to help you

GHD executive director Tim Mawhood spoke about the findings, saying; “At the beginning of 2021, some large cities experienced dips in population, demonstrating the extent to which changing work practices, and the prevalence of online shopping, are increasingly making location a choice for some, since proximity to workplaces and physical shops is now less of a consideration. Early signs already suggest that peri-urban areas are growing in popularity, as some turn their back on living in densely populated city centres in favour of local living. What is certain is that town and city leaders must ensure their regions have a long-term vision for living and operating sustainably in order to attract both businesses and residents.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

 

Will Downsizing Impact All Buyers And Vendors?

When it comes to looking at the housing market, it is natural people only pay attention to the issues that they think impact them.

Property news about locations where they don’t wish to live or buy a home carries no relevance to them. Similarly, property news regarding property types or sizes that don’t interest will be unimportant to them.

However, the way the property market is connected might mean these matters have a bigger influence on your attempts to move than you think.

You might not think downsizing is relevant for your next move. It could be you think downsizing is only for elderly people looking to buy a more manageable home, or people looking to move to a more affordable property.

These circumstances are common, but there is also connectivity to other buyers and vendors.

If you are looking to buy a larger home, your ideal house might be one placed onto the market by a downsizing household.

If you are looking to sell your home as you move to a larger property, the ideal buyer for your current property might be someone who is downsizing to your current size.

Therefore, downsizing is a key issue in the housing market, and at Williams of Petersfield, we will keep you informed with what is happening right now.

A study by Audley Group indicates a growing number of older homeowners are considering downsizing sooner than they intended to. Admittedly, this research has been carried out by a retirement homes developer, so there is a likely bias to their findings.

The survey of people aged 55 or older found:

  • 34% of respondents wished to live in a better area
  • 29% of respondents wanted to live closer to their family and friends

There is growing demand for retirement property

According to the Associated Retirement Community Operators, again a body who have a vested interest in the market, suggests 85% of retirement property providers experienced an increase in sales and lettings in autumn 2020 compared to the previous year.

The same study also provided the following returns:

  • Higher sales and lettings in 2020 compared to 2019 were stated by 30% of respondents
  • 25% of respondents said they saw sales and lettings at least 50% higher in this field

Rightmove information also suggests a movement in this manner

While there has been considerable focus on larger homes, Rightmove information suggests bungalows have been in significant demand. Their findings suggest:

  • The number of properties sold in 2020 was 7% higher than for 2019
  • There was a shortage of bungalows listed for sale, falling 10% on the 2019 figures
  • By comparison, the drop for houses was only 3% in this time period
  • The average asking price for property rose by 4% to £317,583

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Are You In Your Forever Home?

If you are settled in your current property, there is probably a high chance you have no intention of moving. When you think of the number of people who have moved home in the last six months, there will be many people feeling settled.

The stamp duty holiday has driven demand, and moves. It has been a challenging time, and it is easy to see why many homeowners have no intention of moving home again. You might be in this situation, and if so, you probably don’t need our services.

Then again, if you are reading this blog, you probably aren’t planning to stay in your home forever.

We are here to help buyers and vendors

Circumstances change, and there might be reasons why you need to move home.

A recent study suggests many people feel settled, and in no rush to move. Which is fine, but if circumstances change, we can help.

Property Platform WiggyWam has spoken to buyers about the moving process.

  • 45% of homebuyers in the UK found the property buying process to be so frustrating they vow to never go through it again
  • 24% say that although they would prefer to not move again, they expect to do so because of personal or lifestyle circumstances
  • 21% say they will never move again

There is an average of one million property transactions in the UK each year. 45% would account for 450,000 potential buyers looking to avoid the housing market. 210,000 buyers would be lost to the market.

However, not all is lost:

  • 47% of buyers said the buying and moving process was as they expected it to be
  • 20% of property buyers said the experience was better than they expected
  • 33% of buyers said it was explicitly worse

What was frustrating?

  • 33% of respondents said the time taken to complete the move was frustrating
  • 22% said dealing with conveyancers and solicitors was frustrating
  • 10% said being unable to find suitable property was most frustrating
  • 8% said additional costs was an off-putting element

Silas J. Lees MRICS, WiggyWam CEO, says: “Anyone involved in the house-moving process knows it’s a highly stressful event in a person’s life. I think the industry can grow immune to the real-life impact this has. When the entire process is drawn out, convoluted and rife with delay, as so much of it historically is, people’s lives are negatively affected. We should no longer accept a sales process that is akin to putting clients through a mangle and then charging them for the privilege. This is why we lose 1-in-5 potential buyers every year.”

Silas continued by saying; “And this goes hand-in-glove with the clear fact that movers care little for the taxes, duties, and fees attached to the moving process; something which we in the industry spend so much time fretting over. Buyers and sellers are willing to pay for premium service, to remove stress and tribulation.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

 

Know What House Buyers Need In 2021

If you are looking to sell your home, it is always helpful to know what buyers are looking for. With this knowledge, you can position your home in the most effective manner, boosting the chances of selling your home.

At Williams of Petersfield, we are pleased to say we have helped many local vendors connect with buyers. We know the local market well, and we look to bring people together.

Through our knowledge of the local market, and our studies of what is happening across the market, we are here to help you know what house buyers need in 2021.

White Goods and Existing Heating Systems

The boiler and heating system is one of the most important factors that buyers consider. You can improve your chances of connecting with buyers by:

  • Having your boiler reviewed by an expert to determine its condition before listing your home
  • If it is in your budget, upgrade the boiler or at least carry out improvements
  • Make sure you have sufficient boiler insurance coverage in place

David Holmes is the founder of the Boiler Guide, and he believes people aren’t doing the right sort of searches when looking for a new or better boiler. Digital searches have given people more options, but this might not be the best way to find the ideal solution.

David Holmes said; “Like many other services, it really is worth putting in the time and effort to explore your options for such an important investment and in many cases, you could save hundreds of pounds simply by spending another five minutes on the phone.”

He also said; “We expect the residential heating market to become even more competitive in the next few years as both existing and emerging brands are investing in renewable alternatives such as air source heat pumps and hydrogen-ready gas boilers.”

White goods are also important if you are including them in the sale.

Some steps you can take include:

  • Investing in new kitchen appliances
  • Making sure you know which sort of appliance is best for the most likely buyer in your home
  • Have all existing appliances reviewed and if repairs must be carried out, do so
  • Consider the energy efficiency of your appliances

The Energy Efficiency Rating is crucial when selling a home

You will likely know the importance of energy efficiency, and how vital it is for vendors and buyers.

Money Super Market provides the following tips on improving the energy efficiency rating of your home:

  • Insulate your loft – This could save between £120 and £225 a year according to the Energy Saving Trust
  • Poorly insulated roofs and walls can be a major cause of energy wastage. But with decent loft insulation, you could save between £120 and £225 a year, depending on the type of property you have and where you live, according to the Energy Saving Trust.
  • Hang thick curtains and insulate your doors
  • Install an energy monitor to review your energy consumption
  • Use a water-saving showerhead
  • Install double glazing
  • Consider solar panels
  • Insulate your cavity walls – According to the Energy Savings Trust, this could save between £70 and £255 a year

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Annexe Applications Rise As Homeowners Need Space

It shouldn’t come a surprise to learn that thousands of homeowners across the UK have taken steps to improve their home. A lot of people have moved home or looked to move property but with information provided by Churchill Home Insurance, planning applications for garden annexes were considerably high.

Close to 9,000 planning applications were made, and a lot of this is down to the first lockdown period.

People need space at home

The insurance company suggests that this amounts to 25 applications per day.

It is likely that remote working and home-schooling influences people, and the same source found that 6% of property owners intend to add a garden annexe to their home this year.

While the average cost of an annexe is around £7,000; the value of a property can be increased by as much as £91,000 depending on the size and standard of the extension.

The main three reasons people want to add an annexe to their property were as follows:

  • Allowing other family members to move in to assist with childcare – said by 17% of respondents
  • Home schooling requirements – said by 16% of people
  • Moving a family member in to be part of the same household – said by 16% of respondents

How would you utilise additional space at home?

Other reasons why people use existing or plan to use a new annexe include:

  • A breakout space, listed by 28% of respondents
  • A living area for children, cited by 16% of people
  • A space for parents, listed by 15%
  • A leisure space, named by 13% of people, with a bar a fantastic example
  • A living area for elderly relatives, named by 10% of people

Pritpal Powar, Head of Churchill home insurance, said: “We expect more from our homes now than ever before. As well as places to relax, they are offices, businesses, schools and gyms. These structures are often relatively cost-effective and can quickly add both space and value to a property, so it is no wonder so many of us are looking at how we can create more space without spending huge amounts of money on building extensions or moving.”

Pritpal continued by saying; “Anyone considering constructing or converting a garden annexe needs to inform their insurer that work is taking place and consider the additional building and contents that they may need on their policy once the work is complete.”

Over the last year, it looks as though planning applications for new garden annexes achieved a greater level of success than applications for converted annexes. 75% of applications for new annexes were approved by local councils, while the success rate for conversion applications was just 67%.

79% of all planning applications in 2019/20 were for new constructions, with the remainder (21%) being for conversions.

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

Moving Home Quickly And Safely

The stamp duty holiday has encouraged many people to enter the housing market. There is significant demand for homes. Also, with the stamp duty holiday in place, many people are looking to move sooner rather than later.

At Williams of Petersfield, we are here to assist you. We want to ensure you make an informed decision, and that you receive the best standard of support you need from start to end of the sales process. If we can be of any help, please get in touch.

There is growing buyer demand for property

GetAgent, which monitors homebuyer demand across the UK on a quarterly basis based on market data from the major property portals, indicated there was an 8.5% rise in buyer demand in the third quarter of this year compared with the second-quarter.

Colby Short, founder of CEO of GetAgent, said: “The meteoric uplift in UK homebuyer demand in the third quarter of this year demonstrates a market that has well and truly bounced back from pandemic paralysis. More affordable areas were the strongest performing in terms of buyer demand in Q3, with plenty of room for further growth in some parts of the country.”

Colby continued: “It’s fair to say that the current stamp duty holiday in its various forms across England, Wales and Scotland has played a huge part in this revival and should continue to do so over the final quarter of 2020 at the very least. This is great news for home sellers who may have seen the value of their property plateau or even fall during the prolonged period of Brexit uncertainty that plagued the market over the last few years. With buyer demand now seeing a healthy increase, sold prices are likely to follow suit.”

Follow these tips to move home safely

The specialists at Space Station, who offer self-storage solutions and who are highly experienced in the removal sector, have shared leading tips that will help you move:

  1. Get help from the experts
  2. Plan your move well in advance
  3. Clean your items before the moving process
  4. Stay alert and continue to follow COVID-19 guidelines
  5. Use materials from around the home to lower costs and speed up the process
  6. Ensure all removal boxes are secure before you move
  7. Try to avoid using plastic bags and bin liners as best you can
  8. If you can, use vacuum storage bags
  9. If you are moving precious items, a wheeled suitcase is a great solution
  10. Protect the corners of your important items

Vlatka Lake is a Marketing Manager at Space Station, and she said; “Preparation and planning are the most important things movers can do when packing up their belongings ready for a move and this has become even more prominent with the tightening restrictions around the country, which can be a great source of stress and anxiety.”

Vlatka also said; “By planning ahead, you can make sure that this process remains exciting, as well as maintaining the safety of yourself and everyone involved. These simple tips can help you transition from one house to another with minimal stress and costs, whilst also making sure you are adhering to the protocols in place due to the pandemic.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

 

Connect With Buyers And Sell Your Home

At Williams of Petersfield, we know the clock is ticking with respect to the stamp duty holiday. If you are looking for guidance and assistance in making the right move, get in touch, and we will be more than happy to help you.

There is increased buyer demand for homes, and if you are thinking about selling your home, now is the ideal time to make your move.

Tim Bannister, Rightmove’s director of Property Data, said: “Increased competition for second-stepper homes has pushed prices to a record this month for those looking to take the next step up the ladder. Needing more space has always been the most popular reason for moving house, but now there’s a new urgency for extra space to be able to work from home, which means that there are different sets of buyers competing for the same type of property.”

Tim continued by saying; “At the start of the year a fourth bedroom was very much a luxury for buyers trading up, but it’s now emerging as a must-have for those who are able to take that step. With overall asking prices just a few hundred pounds shy of July’s record, and buyer demand at an all-time high, those currently looking for their next home are likely to find that only offers close to the asking price will be considered, especially for larger homes.”

Do you know what buyers are looking for?

If you want to connect with willing buyers, you need to give them what they are looking for. If you aren’t sure what buyers look at during the viewing process, help is at hand.

An innovative study carried out by comparethemarket.com offers insight into what prospective buyers look at, and test, when viewing a prospective property. These might not be the factors which make or break a buyer’s resolve to make an offer, but if problems arise, a buyer might not be inclined to follow up their initial interest in the property.

Some of the most commonly considered points include:

  • The quality and condition of radiators
  • Access to a garden space
  • The level of water pressure
  • Cupboard doors
  • The comfort of beds
  • How well the oven works
  • How light switches work
  • The accessories which add a touch of personality to the property

Mark Gordon, head of mortgages at comparethemarket.com, said: “UK house prices are currently on the up and with the stamp duty holiday prompting more buyers to get on the property market, it’s a competitive time for homeowners looking to sell their home. We conducted this experiment to determine the areas of the home buyers look at most to help sellers maximise their chances of a sale. Some sellers may not have considered these factors when preparing their homes for viewings, so we hope our insight will help them focus on the areas they should check and freshen up.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

 

RICS Confirm Larger Homes In Demand

At Williams of Petersfield, we are more than happy to keep you up to date with what is happening in the local housing market.

We have helped many buyers and vendors in Petersfield, and if we can be of assistance to you, we will. However, we know many people are looking to remain informed as to what is happening in the housing market across the country.

This is an area where we can also assist you.

Stay in touch with what is happening in the housing market

It is always worthwhile to consider findings from the Royal Institution of Chartered Surveyors review of the market.

63% of respondents said there has been an increase in buyer interest in the most recent month.

Agreed sales increased for the third month in a row, and there was a net balance of 61% of contributors experiencing an increase in activity.

Sales expectations remain positive, although in the longer-term, 12-month sales projections are more modest.

The RICS findings confirms the shift in buyer demand when it comes to desirable characteristics. Over 80% of respondents expect the demand for properties with a garden to continue rising in the next two years.

A similar rise for properties which are located near to open spaces is also expected.

House prices are expected to rise

The RICS survey also indicates there is an expectation house prices will rise. Expanding on this matter, the RICS website news release states; “The August survey feedback points to a sharp acceleration in house price inflation. At the national level, a net balance of +44% of respondents reported an increase in prices, the strongest reading since 2016. This is up from a net balance of +13% in July and marks a dramatic turnaround compared to the reading of -33% registered back in May. What’s more, virtually all parts of the UK are now seeing prices increase.”

Key takeaways from the August RICS report are as follows:

  • National house price growth indicator hits a four-year high
  • Enquiries, sales and new instructions all continue to rise
  • 83% of respondents foresee demand increasing for homes with gardens / outside space over the next two years while 79% predict rising demand for those properties near green space

Simon Rubinsohn is RICS chief economist, and he said; “The latest RICS survey provides firm evidence of a strong uplift in activity in the housing market which should help support the wider economy gain traction over the coming months. More of a concern is the pick-up in prices which could intensify issues around affordability in some parts of the country. Disaggregated data shows demand generally to run ahead of supply.”

Simon continued by saying; “Meanwhile the results provide a further pointer to more substantive changes taking place in household behaviour in the wake of the pandemic. Increased demand for properties with garden and near green spaces has if anything increased since we tested the water in May.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.

 

Prepare Yourself For Cost Of Moving House

The stamp duty holiday has encouraged many people to enter the housing market. If you are looking to make a move, we are here to assist you.

At Williams of Petersfield, we are more than happy to provide you with a property valuation. This allows you to enter the market with confidence. It also provides you with more confidence in making your next housing move.

Moving home is an expensive exercise. Agency fees, legal fees and stamp duty all play their part in ramping up the cost of relocating.

We help you prepare for your next move

Research carried out by MoneySuperMarket suggests the average household spends close to £700 in hidden fees when they move home. With the same source finding 19% of British people move a minimum of nine times in their life; the potential lifetime expenditure on hidden fees is over £6,000.

The same study also found 63% of people were unaware that moving home regularly can have a negative impact on their credit score. -impact-

According to the study, the most expensive city for hidden costs when moving was Coventry, with fees of £841. The most affordable city for hidden fees when moving home was Gloucester, with unexpected fees of £360.

What matters to you when moving?

The top six most common additional fees for British home movers are:

  • Bedding and kitchen utensils, cited by 53% of respondents
  • New furniture, also cited by 53% of respondents
  • The cost of having mail re-directed, listed by 39% of respondents
  • The cost of having Wi-Fi installed, said by 36% of respondents
  • Having to change bill providers, named by 34% of respondents
  • 24% of respondents listed the cost of removal services

The study also uncovered the three most common reasons for moving:

  1. 31% of respondents saying they want to own their own place
  2. 29% cited moving in with a partner
  3. 28% saying moving to a larger home

Kate Devine is the Home Insurance spokesperson at MoneySuperMarket, and she said; “With the housing market boosted by the Chancellor’s stamp duty holiday, many of us are considering moving home. Whether you’re buying or renting, make sure you’ve factored in all the potential costs you expect to incur.”

Kate continued by saying; “If you’re buying a home, our research shows that it’s not just stamp duty, legal and estate agency fees that should be on your checklist, but also things like cleaning, new household products, temporary storage space and professional movers to make sure your treasured possessions get from A to B safely.”

Kate Devine concluded by saying; “To protect you in case things go wrong when you move, we would recommend you have contents insurance before transporting your items to their new home – most policies will provide cover for your belongings against damage or loss while they’re in transit from one property to the next. But make sure you use a professional removals firm – many of which have their own insurance – to guarantee you benefit from this protection.”

At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.