What is Needed to Move Home and How Much Will it Cost in 2024?

Moving home is exciting, but sometimes seems to be a daunting process, filled with various tasks and expenses. Whether you're selling your current property, buying a new one, or both, understanding the costs involved is crucial. In this comprehensive guide, we'll explore the essential steps and associated costs of moving home, drawing on a wealth of industry knowledge, including insights from leading London-based real estate agents. Our goal at Resides Swindon is to empower you with the knowledge you need for a smooth transition to your next home, establishing us as your trusted property expert in Swindon, UK.

Selling Your Home

Estate Agent Fees

The first cost you'll encounter when selling your home is the estate agent fee, which typically ranges from 1% to 3% of the sale price, plus VAT. This fee covers the cost of marketing your property, conducting viewings, and negotiating offers.

Energy Performance Certificate (EPC)

An Energy Performance Certificate (EPC) is legally required to sell your home in the UK. The cost for an EPC can vary between £60 to £120, depending on your property's size and

location.

For information and help with your EPC please see our guide here:

EPC Survey Guide

Buying and/or Selling a Home

Conveyancing Fees

Conveyancing fees cover the legal aspects of selling your property. These fees can range from £600 upwards depending on the complexity of the sale and the average fees as recorded by the UK Government for buying a house in England and Wales is £2,048 as of January 2024. For selling a house the England and Wales average is currently £1,407. 

For non-complicated transactions on freehold properties, we typically see our clients paying costs of around:

·       For selling a house £700 - £900

·       For buying a house £600 – £1,100

for information on Conveyancing please see our guide here:

Conveyancing Guide

Selling Your Home

Estate Agency Fees

Estate Agency Fees in Swindon range from around 1.2% up to 3.6% of the amount that the property is sold for. At Resides Swindon we are proud to provide the lowest Estate Agency cost and the highest levels of Customer Service and Property Marketing through RightMove and Zoopla.

For more information on how we can save you money and enhance your home moving journey, please contact us for free no obligation valuation of your property

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Stamp Duty

For residential properties in England and Northern Ireland, no SDLT is payable on purchases up to £250,000. For properties costing more than this amount, the SDLT rates are tiered as follows:

• For the portion of the purchase price up to £250,000: 0%

• For the portion between £250,001 and £925,000: 5%

• For the portion between £925,001 and £1.5 million: 10%

• For the portion above £1.5 million: 12%

First-time buyers receive special relief, paying no SDLT on purchases up to £425,000. For properties costing between £425,001 and £625,000, first-time buyers pay 5% on the portion of the purchase price within that range. If the purchase price is over £625,000, the standard rates apply without any relief.

For those purchasing additional properties, such as second homes or buy-to-let properties, there is a 3% surcharge on top of the standard rates for each tier. This means the rates for additional properties start at 3% for the portion up to £250,000, and so on.

For the most accurate and up-to-date information, it's recommended to use the SDLT calculator provided on the UK Government's website

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#!/intro

or consult directly with a tax professional or conveyance.

Valuation and Survey Fees

Before buying a home, getting a property valuation and survey is wise to identify any potential issues. Costs can vary significantly, from £150 for a basic valuation to over £1,000 for a full structural survey.

Mortgage Arrangement and Valuation Fees

Mortgage lenders typically charge an arrangement fee for setting up your mortgage, which can range from £0 to over £2,000. Additionally, a mortgage valuation fee, required by the lender to assess the property's value, can cost between £150 and £1,500.

Removal Services

The cost of moving your belongings can vary widely depending on the distance of the move and the amount of stuff you have. Expect to pay between £300 and £600 for a local move, and potentially more for longer distances.

Additional Costs

Don't forget to account for other potential costs, such as mail redirection, which the Post Office offers, and deep cleaning services for your new home, which can vary in price.

Summary

While moving home involves several significant costs, planning and budgeting can make the process much smoother. At Resides Swindon, our expert team is dedicated to providing you with personalized advice and support, whether you're selling, buying, or both. Trust us to guide you through every step of your property journey, ensuring a successful and stress-free move.

For more information and advice on moving home, contact us at Resides Swindon, your local property experts dedicated to making your next move as seamless as possible.

For help understanding the home moving process, please contact us

Contact Us