Moving house with large cardboard packing boxes can be a very costly experience. The cost of your new home itself is one thing, but all the additional fees and costs can certainly add up to a lot. It is important to calculate all of the potential costs involved before making the decision to move house and ensuring that you have the money to do so, without any hidden surprises. So what exactly are the costs of moving house?
The cost of moving house removals
• Firstly you have stamp duty to take care of. This is a percentage of the new property price over £250,000. Currently in 2023 it is 5% between £250,000 and £925,000 and then 10% up to 1.5m. This can be a huge cost for most households and this alone can be enough to put people off moving.
• Solicitors fees are the next big cost of moving. This can vary quite dramatically and usually costs a few thousand pounds. They will take care of the legal side of moving and you cannot buy or sell a house without them, unfortunately, because they certainly take a long time.
• The mortgage itself can have a small setup fee, if you are re mortgaging or setting up for the first time. The mortgage advisor won’t charge you their fees, as they are usually paid by the bank themselves, so you don’t have to worry about that one.
• The packaging materials you are going to use for the move are the next cost. This will involve a variety of different large cardboard boxes, as well as protective packaging such as bubble wrap and tissue paper, along with some strong packing tape to secure the boxes and a marker pen to write on the boxes to say what is inside. The lowest cost for packaging is bought online, and will typically cost anywhere from £100 to £250 depending on the size of your move.
• If you use a professional removal company, they will usually charge anywhere from £1000 to £3000 to help you move large cardboard storage boxes with lids, depending on the size of your house and how cluttered it is, along with how many lorries they are going to need. If you choose a cheaper man and van service locally, they can be cheaper at up to half the price, but beware they can be very unreliable. In some cases, they don’t even turn up, which could be a nightmare scenario so only use people that you know and trust.
• If you decide to move on your own, you will need to hire a removal lorry or van. Usually a Luton is the best option and the ideal size for an average household, as they have a useful tail lift too. The cost of hiring a Luton for a day is £150 plus fuel which you buy separately. Sometimes you may need it for more than one day, or you might need more than one van. Remember you’ll have to get help from friends and family if you move yourself.
• So in total you will be looking at around £18,500 in total to move into a £500,000 home in the UK in 2023. This cost and the decision should not be taken lightly. Is it really worth moving when house prices are predicted to drop over the next year, along with these costs? Is it really worth moving when mortgage rates are as high as they’ve been for over 10 years? It will depend on your individual circumstance as to your decision of course, but we certainly wouldn’t recommend it. Hang on in there for another year. Buy cardboard storage boxes for moving online.