Moving home is a notoriously stressful process to have to take care of. There are so many aspects that need to be thought about, from navigating a horrible housing market to saying goodbye to your old neighbours, that it can quickly all get a bit much.
On top of that, there’s the cost. Here, we take a look at some of the main factors that can influence how much it costs to move home in London, from the size of the properties to the services you choose to use.
One factor that will have a big impact on how much it costs to move home is the size of the house. This will have an impact on everything from the home-related fees you have to pay, to how much a removals service will cost.
Moving between studio flats, where you have limited furniture and no overlapping rents or purchase-related fees, could cost just a few hundred. Moving between 5-bedroom houses, on the other hand, can cost much, much more than that.
In most cases, there will also be a range of fees related to moving home. If you’re renting, you may have to pay two rents at once, and if you’re buying, you’ll have everything from stamp duty to conveyancing fees to take care of.
How much these end up costing you in London can vary dramatically. In some cases, it’ll be in the low hundreds – in others, such as when buying a larger property, it can push up into the tens of thousands.
Another factor that will have an impact on how much the move costs you is the services you choose to use. For example, you may spend a bit more if you use a storage service and a removals firm like Bright Movers, compared to hiring a van and storing everything at your friend’s place.
That being said, in some cases, you won’t actually save that much. When you factor in the increased chances that you break things, the relatively high van rental costs in London at the moment, and the extra time you might have to take off work, using professional services is often worth it.
If you’re moving between studio flats that are relatively close together, and you have no property-related fees or overlapping rents, then with just a removals service, you could be looking at around £300 for the move.
If, on the other hand, you’re moving between 5-bedroom houses that you’re purchasing, you could be looking at £2,000 in conveyancing fees, stamp duty of £93,000 (based on £1.5m property value) and £3,000 or so in removal service fees.
Clearly, the cost of moving home in London can vary dramatically, depending on the exact circumstances of the move. It’s imperative that you calculate how much it’ll all cost in advance, so that you’re able to cover the costs without too much financial stress.
Moving can be quite expensive. Last time we did most of it ourselves and saved a lot of money that way.
Scary how house prices have gone up! Our area is so expensive, I wonder how the youngsters will cope. Jacqui x
The size of the house is one of the biggest factors anx also area. My area the Landlord just increased our rent to a 105.8%. Imagine!
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