Wednesday, 23 October 2019

How to Fund a House Move

You've bought your very first house, laid down a sizeable deposit, paid stamp duty, the surveyor’s cost and conveyancers fees. It has been a costly process, but you’re certain that it will have been so worthwhile once you are able to settle down in your brand-new home. But wait. There's one more aspect of the process that you’ve forgotten about: the big move itself! So, what is moving house going to cost you? How can you finance it, and what exactly do you need to know? Find out below.

How much is a move likely to cost?

Many Britons are shocked to discover that the total cost of moving house can set them back £1,192.67, on 
average. In other words, it is safe to say that the entire process definitely isn’t cheap.

How to finance your move

Obviously, the best possible way to finance your move is to save up for it well in advance of looking for the perfect house to buy. Unfortunately, when you factor in having to save up for a 10% deposit as well, you may only be financially ‘ready’ to buy a property by the time you're 50! As a result, many people rely on the ‘Bank of Mum and Dad’ for help. Your parents may be willing to lend you a certain amount of money at little to no interest, which is much more viable and affordable than having to apply for an additional loan from the bank to settle your moving costs.

One of the best ways to finance your move, or at least keep the associated costs to a minimum is to make use of an online moving costs calculator. This will give you a good general idea of what you can expect to pay and will help you to evaluate any quotes that you receive from moving companies properly. Much like you can use websites like The Money Hub to compare different mortgage deals in an effort to find the best one, it is essential that you compare moving company quotes before accepting the right one. Just remember that when it comes to moving companies, the cheapest isn’t always the best. Look closely at the details of what the company is offering (do they offer to pack for you? Do they specialise in transporting fragile or sentimental items?) and speak to friends and family members for advice in terms of which companies they recommend before making a final choice.

If you find yourself strapped for cash after paying all the other fees associated with investing in a property, remember that it is indeed possible to rent a van and tackle the move yourself (hopefully with a bit of help from your loved ones!). It will take a lot of work, time and planning, but it will undoubtedly save you hundreds of pounds in the long run.

However you choose to finance your move, keep your eye on the prize. You will soon be all moved into the brand-new place that you will call ‘home' for many years to come.

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