Cost of moving house rises by over £3,000 in the past decade
New research shows that the average cost of moving house has risen to approximately £10,000, an increase of over £3,000 since 2008.
Jenna McLaughlin of Oracle Law commented:
“The costs are partly attributable to the rise in house prices in the past decade with an average of £5,076 being spent on estate agency fees. Financial obligations such as Land and Buildings Transactions Tax (Stamp Duty) costs an average of £2,012 and other costs such as legal fees and removal companies all make moving home an expensive business.
“As with anything you buy these days, it could save you a substantial amount of money if you do a little bit of homework and shop around for quotes. One client was recently quoted over £1200 from a removal firm and after making a few calls, they managed to secure the same service for £500.”
“It really is to your benefit to obtain quotes from your estate agent, solicitor and removal company when you decide to move home. This means that you know what you have to budget for when the time comes to sell and/or buy.”
For advice and assistance when selling your home or buying a new one, please contact Stephen Mullan or Jenna McLaughlan at Oracle Law.