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Upfront moving home costs over £30,000? We don’t think so!

  1. 24 August 2018
  2. By Andi Michael

It does not cost over £30,000 to move home in the UK, especially not if you've done your research. Here we breakdown how the costs have changed and what you can expect.

This week TotallyMoney released a breakdown of the upfront costs of buying a property, and suggested that the UK average upfront cost was £38,777.

We were a little surprised by this, as we did a breakdown of the cost of buying a house in 2017, and even though it’s increased, over £30,000 is quite a jump! Our research shows that the average cost in 2017 was £7356.

The issue with the huge number from TotallyMoney is that they have said they want to warn first time buyers of unexpected upfront costs. However, some of the costs cited won’t be paid by a first time buyer.

First time buyers won’t have estate agent fees, often they choose not to use a removals company and if buying under the threshold, will not have to pay Stamp Duty.

Similarly, the article suggests a HomeBuyer’s Report on average costs £786 – they’re obviously not used to comparing through reallymoving. Found through us, the price starts from £300, and the average price of a HomeBuyer’s Report on a property worth £225,000 would be £339.

We agree with the article that buying in different parts of the country can be extremely expensive, with the cost of moving in London around £23,913 according to our data.

However, it’s important to be clear that there are lots of ways to cut down on costs and be aware of the fees. It’s also another reason to get a quality survey by a Chartered Surveyor – so you don’t need to pay out to fix elements or deal with rewiring.

Getting a survey is one of the best money saving things you can do when buying a new home and comparing all your services is just as important.

Don’t be put off moving home by the cost - compare, discuss estate agent fees and look for great deals. Moving home doesn’t have to be expensive, as long as you do your research.

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