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Essential Costs To Include In Your Moving Budget

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Relocating to a new home is a common occurrence many people will go through at some point in life. According to the Lloyds Bank Home Mover Review, about 370,300 people relocated in the UK in 2017. Moving home comes with its unique costs that homeowners must be prepared for to avoid any surprises. If you want to know more about what to include in your moving budget, please consider these points.

Removals

Many experts agree that removal costs should be a top priority when preparing your budget, so keep this in mind. A removals company is necessary to convey your belongings to your new location without much hassle and at a decent fee. Generally, factors like your property’s accessibility, the size of the removals van you are hiring, and the time and day of your move will influence your moving costs. Additionally, your destination city, additional services like packing and storage, the move’s length, and handling specialist items also affect how much your move will cost. Luckily, many removals brands offer free quotes for their services, so you can reach out to multiple movers to discover who provides the best value for money.

Estate Agent Fees

Estate agent fees are amounts paid to your agent based on your home’s resale value. It is usually between 1% and 3% of your home’s selling price, including 20% VAT. As such, your fees may end up being a lot more than expected depending on how much you sell your property for, so you should always over budget slightly to include any unforeseen costs. Additionally, choose your real estate agents based on the services they offer and not their price alone. Alternatively, you can sell your home to a property buying company if you prefer working without estate agents. Many cash buyers for houses exist in the real estate market, allowing you to sell your property in as little as seven days.

Energy Performance Certificate (EPC) Rating

Energy efficiency is a top consideration in the real estate market, so getting an EPC energy rating carried out on your home is necessary before selling. Your EPC provides information on your house’s energy use and energy savings costs, as well as recommendations on conserving energy and saving on utilities based on the local area and property type. This survey will consider everything from your windows to insulation to determine your home’s energy efficiency. Some experts even believe a high EPC rating of A can increase your property price by up to 14%, so it might be a good idea to improve your home’s energy efficiency before carrying out this survey.

Change Of Address

Many documents and services will require modifications to reflect your new address, so it would be best to budget for the costs of upgrading all these paperwork and services. Your TV license, utilities, credit card, banks, insurance companies, council tax, driving license, and V5C vehicle registration certificate are some of the essential paperwork that will require a change of address when you move.  Therefore, by adding up all these costs, you can have a fair idea of how much to pay, ensuring that you can afford to move to your new home.

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