As a new year begins, some people may be looking for a fresh start and fresh surroundings, while others might be embarking on the journey of buying their first home.
Mortgage costs spiralled in autumn of last year and while prices have settled a little, they remain a world away from the once rock bottom rates once enjoyed by many.
According to Barclays, the average sum that moving house could set you back is around £11,000 on average.
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With so much to carefully consider when moving house, Donna Lewis, Liverpool property partner for estate agency Purplebricks, has shared some of her tips for keeping costs down during the process.
Get quotes
Donna said: "Moving costs can vary, so it’s always good to get quotes from different companies and get them to come and visit your property to ensure you get a more precise quote."
She added that you shouldn't be shy when it comes to looking into a number of companies, including solicitors and businesses that provide moving services. She added: "Look to get at least three different quotes, but remember the cheapest doesn’t always mean the best. You could use the cheapest quote to negotiate with the middle or higher priced companies to see if you can get a better deal."
Be realistic about fees
There is a lot to remember when it comes to moving, and a lot of elements that add up. Donna said: "Legal fees can be high, as you will be paying for the sale of your home and the purchase of your new one.
"One of the biggest expenses though can be estate agent commission. You may get the same service no matter the value of your property, but the higher the value the more you pay to your estate agent."
Stamp duty can also differ wildly. First time buyers don't have to pay stamp duty on properties up to the value of £425,000. If you are moving, you'll have to pay 5% of the value of the house over £250,000 and up to £675,000.
Donna added: "Your legal fees will also increase compared to buying your first home. When you buy your first home you are only paying for legal fees for the purchase of the property, but when you sell you have legal fees for the sale of your old property and the purchase of the new one. During the time you’ve lived in your current home you have most likely accumulated more furniture and items, that and the fuel price increases will have increased the cost of moving fees, so you can’t assume that the moving cost will be the same as it was when you moved into your first home, even if you use the same company."
Do what you can
Donna said: "You can save money on moving costs by doing as much as you can yourself. Packing and unpacking everything yourself, as well as dismantling items can save you hundreds of pounds.
"If you aren’t moving too far away, you could hire a self drive van and move everything yourself, or hire a man and a van and help them with the loading and unloading. Although you may not have the insurance most moving companies have to protect your items in transit."
Declutter
Reselling sites such as Vinted are a hot topic right now and buying pre-loved items is en vogue. Getting rid of unwanted items could raise some extra cash for your new home fund and could also have a hidden bonus.
Donna said: "You could declutter your home and sell some items before you move to make extra money. This will also help with selling your property, as too much clutter can be off putting for buyers."
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