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Published on : February 20, 2022 11:51

Key Costs Involved With Moving Home

Buying a home is a costly process. Whilst it can be an exciting start to the next chapter of your life, you need to realistically factor in these costs before starting to move on the property ladder. In this article, we want to take a look at the key costs involved with moving home. 

Numerous studies over the years have collectively reported that moving home is one of the most stressful events in a person’s life.

There are a number of factors to consider when moving home, including a looming deadline for the actual move itself, ensuring you have all your furniture, belongings and personal items, and any emotional attachments you have with your current property.

Having a plan in place prior to moving, in addition to knowing the costs involved upfront are key factors to minimising the stress when looking to buy your next property.

Moving home is typically more expensive than buying your first home, especially if you are looking to upsize to a larger (and therefore usually more expensive) property.

There are a number of costs repeated from the process of buying your first home, through to additional costs that are exclusive to moving up the property ladder.

As with your first property, the costs of each stage of buying a new home and moving need to be factored in before making any financial input. This is to ensure you can both afford to buy a new home, and also continue to maintain your lifestyle whilst being a homeowner in a new property.

The costs of moving home can be split into three distinct categories:

  • Upfront costs.
  • Mortgage costs.
  • Ongoing costs.

Upfront Costs

Estate Agent Fees

Should you be selling your current property in order to take the next step on the property ladder, you will likely require the services of an estate agent. Property portals such as Rightmove charge agents a considerable fee to list properties, which also requires agents’ time and attention to detail in order to market your home. The fee will usually be a small percentage of your sale price, which could either be a percentage of a fixed flat fee. You should always check the fine print, as some agents promote “free” listings, which are then layered with additional fees and work out more expensive than an agent with transparent fees.


The deposit will be one of the largest sums of money you have to part ways with to move up the property ladder. Depending on the type of mortgage you are looking for, you could be required to put down anywhere between five to 20 per cent of the full purchase price.

Stamp Duty Land Tax

If your next property costs over £300,000, then you will have to pay Stamp Duty Land Tax (SDLT). The amount you pay does depend on the value of your property as it is worked out on a percentage of the purchase price.

Mortgage Valuation Fee

This fee is payable to the mortgage lender to assess the value of the property. This will allow them to determine how much they are prepared to lend you. The cost will usually vary depending on the lender, but there are some mortgage types where you may not have to pay a fee.

Surveyor Costs

It is important to have a full inspection of the property in order to identify any possible issues, and consequentially any prospective maintenance costs to rectify them. The cost of a surveyor will depend on the size of the property, but you can get deals by tying the mortgage valuation fee in with a surveyor visit.

Legal Fees

You will need a solicitor or licenced conveyancer to carry out all the legal work involved in buying a property. They will also do local searches and liaise with the seller’s solicitors on your behalf. Legal fees tend to range from the mid hundred figures to the mid-thousand-pound mark, depending on how much work and time is involved from the solicitor’s perspective.

Electronic Transfer Fee

This fee covers the lender’s cost of transferring the mortgage funds from the lender to the solicitor. Usually, this figure is around the £40 – £50 mark; one of the more inexpensive fees throughout the whole process.

Mortgage Costs


Mortgage lenders will require your property to be insured before you can complete on it. Every lender will have different rates available, and you aren’t required to take out insurance with your mortgage lender. This means in order to get the best rate, much like your mortgage, you will need to shop around for the best deal. You can get apply for building insurance by itself, or get it paired with contents insurance as well.

Ongoing Costs

Council Tax

Your council tax will depend on the type of band your property is situated within. This can be found online prior to buying the property and will be paid monthly.


Water, gas and electricity are the three main utilities you will be paying for in your property. It is worth identifying the costs already paid by the current homeowner to build an idea of how much you will be looking to pay, as well as shopping around for deals. There are other utility costs to factor in as well, such as landlines, TV, and broadband.


Our homes require tender love and care to avoid any undesired maintenance issues. Your initial survey should highlight any issues you may need to address straight away, but you should always put aside funds on a monthly basis to counter any sudden maintenance issues that arise.

In addition to these costs, you will also need to factor in the price of moving home itself. Gathering all your belongings and preparing them for the transition takes time and preparation, which should be done in the weeks prior to moving day. You could opt to do the moving with the help of friends and family, or hire a van and carry it out yourself.

The cost of hiring a van varies on the size of the vehicle and the length of time you intend to utilise it. Moving on a weekend also tends to be more expensive for van hire.

Checkatrade reports that for one man with a transit van can cost from as little as £35 per hour, whilst three men and a van can cost up to £120 per hour. You should always seek multiple quotes from removal companies and look for favourable references to get the best value for money.

It is important to budget and pre-plan costs when moving on the property ladder. The entire process requires a significant financial commitment, in addition to the ongoing payments you will make once you get the next set of keys.

When it comes to finding the financial rates that meet your circumstances, we want to make sure you get the best rates tailored to you. Buying your next home is a significant step, and we would love to be a part of it.

Why not book a free consultation with one of our mortgage advisors by clicking below, or calling us on 0161 826 2998?

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