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Plan For Additional Costs When Moving Home

The chance to save money on stamp duty fees has encouraged a considerable level of activity in the housing market. With the chance to save up to £15,000 on the cost of moving home, it is no surprise to see so much activity in the current market.

However, there are many costs associated with moving home. If you are not prepared for additional costs when moving home, you might struggle to meet the costs.

At Lock & Key, we are pleased to say we have assisted many vendors in Melksham. We know the local market well, and we have helped many buyers and connect. We also stay in touch with market findings, ensuring you receive up to date guidance.

Moving home can be costly

Research carried out by MoneySuperMarket suggests the average household spends close to £700 in hidden fees when they move home. With the same source finding 19% of British people move a minimum of nine times in their life; the potential lifetime expenditure on hidden fees is over £6,000.

The top six most common additional fees for British home movers are:

  • Bedding and kitchen utensils, cited by 53% of respondents
  • New furniture, also cited by 53% of respondents
  • The cost of having mail re-directed, listed by 39% of respondents
  • The cost of having Wi-Fi installed, said by 36% of respondents
  • Having to change bill providers, named by 34% of respondents
  • 24% of respondents listed the cost of removal services

The study also uncovered the three most common reasons for moving:

  • 31% of respondents saying they want to own their own place
  • 29% cited moving in with a partner
  • 28% saying moving to a larger home

Be prepared when moving home

Kate Devine is the Home Insurance spokesperson at MoneySuperMarket, and she said; “With the housing market boosted by the Chancellor’s stamp duty holiday, many of us are considering moving home. Whether you’re buying or renting, make sure you’ve factored in all the potential costs you expect to incur.”

Kate continued by saying; “If you’re buying a home, our research shows that it’s not just stamp duty, legal and estate agency fees that should be on your checklist, but also things like cleaning, new household products, temporary storage space and professional movers to make sure your treasured possessions get from A to B safely.”

Kate Devine concluded by saying; “To protect you in case things go wrong when you move, we would recommend you have contents insurance before transporting your items to their new home – most policies will provide cover for your belongings against damage or loss while they’re in transit from one property to the next. But make sure you use a professional removals firm – many of which have their own insurance – to guarantee you benefit from this protection.”

If you are looking to make a move in the Melksham property market, and you would like to speak with local experts, please get in touch. If you would like to arrange a property valuation, contact us and we will set this up for you. You can phone Lock & Key on 01225 707 342 or why not come and visit us at 5 Church Street, Melksham.

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