Money and Moving House: The Costs Nobody Lists
Moving costs are usually budgeted around the obvious items and then exceeded by a long list of smaller ones that are entirely predictable.
Transaction costs
Legal fees for conveyancing on both the sale and the purchase, plus disbursements — searches, registration, transfer fees and bank charges — which are separate from the headline quote.
Any property transfer tax, which varies enormously by jurisdiction, price and whether it is an additional property.
Estate agent commission on the sale, usually a percentage plus tax.
Mortgage arrangement fees, valuation fees, and any early repayment charge on the existing mortgage.
A survey, which is optional and worth having, at a cost varying with the level of detail.
Moving day
Removal firm or van hire, which prices by volume, distance and access. Quotes vary considerably and should be obtained from three firms.
Packing materials, or the packing service, which is charged separately by most firms.
Storage if the chain does not align, charged by volume and duration.
Cleaning of the property being left, which many tenancy agreements require and which sellers frequently choose to arrange.
The list that surprises people
Redirecting post for a period, which is charged and worth doing.
New locks on arrival, which is basic security since you do not know who holds keys.
Connection and installation fees for broadband and utilities, plus any early exit charge on an existing contract.
Appliance disconnection and reconnection, particularly gas appliances which require a qualified engineer.
Curtains, blinds and light fittings, which the seller frequently takes.
Carpets and flooring if the existing ones are unusable.
Furniture that does not fit or does not suit, which is a larger cost than most people anticipate.
Time off work, which is a real cost for anyone not on salaried leave.
Ongoing changes
Council tax or local property tax at the new band, which may be considerably higher.
Insurance repriced for the new address, which can move substantially with postcode.
Commuting costs if the journey changes, calculated annually rather than daily.
Utility costs in a property of a different size, age and construction, which is worth estimating from the property's energy assessment rather than assuming parity.
Budgeting for it
Total the transaction costs from actual quotes rather than estimates, then add a contingency of at least ten percent.
Keep the moving budget separate from the deposit, since spending part of a deposit on moving costs affects the mortgage.
Sequence the spending: some costs fall before completion, which matters if funds are tied up in the sale.
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