How much does it cost to move home?

• Redrow customers benefit from access to a number of schemes - like Help to Sell and Prime Position - to help make moving home as simple and efficient as possible .
• The sales team at your chosen development will be able to walk you through all the costs and steps in the process so you have full visibility.
• You can use our team of recommended, independent, new build mortgage specialists to help get you the best mortgage deal.

According to Halifax, "in the UK, the average cost of moving home is around £10,000 to £12,000". Obviously, this will vary depending on a range of factors, including:

• The area you're moving to.
• The type of property.
• What's going on in the housing market.
• Whether you're selling an existing home.
• Costs like Stamp Duty and legal fees.
• How much you can afford to pay as a deposit.
• How much you have to move, and your timeframe.

Here's a brief overview of some of the potential fees to sell a house and the charges you may have to pay upfront or before you move in, as part of purchasing a new home.

Stamp Duty

Stamp Duty is a Land Transaction Tax on the purchase of a property in England and in Wales it's the Land Transaction Tax (LTT). How much you pay (and if you have to pay at all) will depend on your circumstances and the cost of the home.

House deposit

Usually, buying and moving into a new home involves paying some form of deposit. This can be as little as 5% of the purchase price of the house - although the lower the initial deposit, the more difficult it can be to secure the best mortgage deal. If you can afford to, it's often advisable to put down a deposit of at least 10% towards a new home.

If you're moving from an existing property into a new home, you can use any equity left to go towards your deposit. If the house or flat you're moving into is more expensive, you may have to pay a bit more to make up the difference. In some cases, especially if you’re downsizing, the cost of your new home will be less than what you sell your existing home for, meaning you don’t need to pay a deposit or have a mortgage.

Mortgage fees

You'll usually have to pay a cost to get your mortgage all set up for the move. These can be paid upfront, though you can also choose to add the fees onto your total mortgage amount.

Property surveys

When buying a second hand home, paying to have a survey done on the house you're moving into can save you plenty of money in the long run. Although they're optional,you can get a structural survey done on a property you're thinking of buying. It will help you understand the quality and characteristics of the home you're going to move into, and highlight any issues or areas that might need repair.

A basic survey can cost around £600, though more extensive checks will cost more. Surveys also go up in cost for bigger homes or older or more complex properties. You'll also need a valuation for your mortgage, though this cost varies from lender to lender - some waive the valuation fee, while others can cost anywhere from £100 up to £1,000+.

You can rest assured that during the building of your new home, the team at Redrow will go above and beyond to ensure everything is correct. Our inspection process goes way beyond what’s required, with over ten different inspections carried out by a range of different professionals.

Depending upon the build stage of your home when you reserve it, you may get the exciting chance to inspect it yourself during one of ‘Hard Hat’ tours. And, unlike a second hand property, your new Redrow home is covered by a 10-year warranty.

Conveyancing fees

Even if you're moving from an existing property you own, you'll still need a qualified conveyancer to handle all the legal affairs and checks. At Redrow, we have a preferred panel of trusted, independent solicitors that we can recommend to any potential homebuyers.

Your conveyancer or conveyancing solicitor will handle all the contracts, checks and processes it takes to move house. Conveyancing fees can cost around £1,500, and it's worth comparing a few offers to make sure you get the best deal. There may be additional legal fees or costs depending on the work involved in securing the sale of the property.

Insurance

Having proper insurance in place before you move into a new home is crucial. You need to make sure you're properly protected as soon as you're responsible for the property.

Buildings cover is essential - this protects your new home against things like fire, weather damage or floods. Buildings insurance usually covers permanent fixtures (such as plumbing in bathrooms) too. You'll need to make sure you've got enough cover to rebuild the property should it be destroyed, and you must make sure the policy starts from the day you actually exchange contracts on the new home.

While you don't necessarily need to start a contents insurance policy before you move in, it's a good thing to consider. If you're moving from an existing home you may be able to transfer a policy, or if this is your first home you may need to take out a new one.

Estate agent fees

If you're selling a home to move, you may also need to consider the estate agent fees for that sale. This cost might be a portion (for example 1-3%) of the overall sale price, or there may be an agent flat fee.

Either way, make sure to know in advance whether the estate agent fees include VAT.

Redrow's Help to Sell scheme is just one of the ways we can help to sell your property in order to purchase one of our new homes. Once you've chosen your dream home at a Redrow development near you, we'll work to agree on a valuation and marketing plan for your home and in some cases contribute to your fees.

Once the legal costs and official paperwork are out of the way, there are still additional costs to be considered for the actual move itself.

Removal and transport

You'll need to factor in the cost of physically moving into your new home. Whether you use a professional moving company or do lots of the haulage yourself, you're going to incur some costs. You'll likely have to pay these costs before moving day.

Storage

If there's a gap between the day you must vacate your old home and the move-in day for the new one, you may need to think about where you'll store your furniture. The cost for a storage unit varies depending on location, company, size and duration, but a minimum rule of thumb will be around £30-£40 per week.

Cleaning

Particularly if you're moving from a rented home, cleaning before you leave for the last time is very important. There may even be something written into your lease that obliges you to do a deep clean upon vacating. Of course, you may opt to do the cleaning yourself, though opting for a professional service might save you time and hassle.

Other miscellaneous moving costs

Things like making sure all your post is forwarded to your new address can sometimes slip through the cracks. An easy way to get all mail sent on to you at your new home is to pay for a redirection or forwarding service - Royal Mail's service costs from £36 for a three-month redirection.

Then once you're in, you'll need to remember to set up or transfer utilities, broadband, TV services, banking, TV licence and other admin agreements.

After you've exchanged contracts and completed on your new home, you'll be starting to pay things like your home insurance, council tax and mortgage. While you'll have undergone affordability checks when you applied for your mortgage, it's worth planning out a full budget and knowing all the costs ahead of time before you move in.

Our team at your chosen Redrow development will be on hand to answer any questions or to help point you in the right direction ahead of your move.

Check out our Ultimate Guide to Moving House to make sure you’ve got everything you need.

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