Regardless of whether you’re a first-time buyer or seasoned mover, it’s essential to understand the costs involved with moving house.
According to the Homeowners Alliance, the average cost to moving house in the UK in 2024 is £10,255. This is based on buying and selling an average priced house of £292,000.
Our cost of moving house guide has been created to help you understand the main costs of buying a home, so they can be considered when budgeting.
Stamp Duty Land Tax is paid on any residential property over £250,000. However, first time buyers pay no stamp duty on properties costing up to £425,000. These rates will be in place until March 2025.
Costs for non-first-time buyers are:
|
Property Price |
Stamp Duty Rate |
|---|---|
|
Up to £250,000 |
0% |
|
£250,001 to £925,000 |
5% |
|
£925,001 to £1.5 million |
10% |
|
Over £1.5 million |
12% |
There are a range of stamp duty calculators available on the market to help you get an idea of how much you’ll have to pay.
One of the biggest costs when moving house is your house deposit. Typically, this ranges from 5%-15% of the property value. However, the actual amount is decided with a lender based on your circumstances and what you can afford.
If you already own a property and are thinking of moving, you may have built enough equity in your old property to use as a deposit. Consult with a mortgage professional for tailored advice.
Engaging with a solicitor or conveyancer is essential when buying a house. A solicitor or conveyancer will handle contracts, the fine print, and much more, making the home buying process much smoother.
Costs for legal fees will vary, often ranging from £500 to £2,000, depending on the complexity of the case.
Arranging a mortgage incurs fees, typically around £1,000 or more. You can choose to pay these up front or add it your mortgage.
While not necessary, a mortgage broker or adviser can be used to help you find the best mortgage deal. They’ll then charge you a fee for their services; this is usually a percentage of the loan amount.
A house survey is conducted by a qualified surveyor and can cost anywhere from £250 to £1500+. It’s a detailed inspection that identifies any issues with your new property, both internally and externally.
And while a survey is not legally required, it can potentially save you thousands of pounds in the long run if a serious issue with the property is found.
Sellers pay estate agent fees once a home is sold; this can range from 0.75% to 3.5% of the property value. The percentage will depend on several factors such as the estate agent you use, property type, and how well you can negotiate.
The easiest way for most people to transport their belongings is by hiring a removal company.
According to Compare My Move, for a three-bedroom house in 2024, the average cost of a removal company is £1,181 (travelling within 50 miles).
According to Compare My Move, the average three-bedroom house in 2024 can expect to pay £806 in removal fees (travelling within 50 miles). For those concerned about the expense though, hiring a van and loading it yourself could save you hundreds.
There are some other potential costs to consider when moving. These include:
As well as your monthly mortgage payments, there are many other recurring costs involved when buying a house. Some of the main costs include: