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.

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