Rising house prices are in the news again, meaning purchasing a property remains a hefty financial commitment. House buyers have to save 25% of the sale price as their deposit and then try to get a mortgage, usually about four times their salary. Stamp duty, legal fees and moving costs also have to be taken into consideration. And that’s just the beginning. Moving home can prove to be very expensive, so it pays to make savings where you can.
How to reduce your home moving costs
You can save money on actual moving costs and refurbishments, by opting to carry out the removals yourself, rather than hiring a firm of professionals. Simply hire a large van for a day, or two – it’s well worth getting the vehicle the night before so you can load it up and reduce the stress on moving day – and call in the help of a couple of friends.
Tempting though it is to kit your new house out with a load of just-bought furniture, remember that this is an expensive period, and consider, instead, how you might modernise existing items for far less money. For instance, rather than buying a new bed, jazz up your current one with a new headboard – try the Divan Beds Centre, for some ideas. Also, if you have a bedroom which needs furniture, instead of a bed and a chest of drawers, go for a bed which has storage underneath.
Expenses you will have to pay
You will have to pay conveyancing charges and stamp duty will work out at 0% – 7% of the purchase price, if the house is over £250,000. Search and survey fees will also have to be paid. In fact, a thorough survey will save you money in the long term; so don’t go for the cheapest option: click here, for more essential fees that you will have to bear in mind. Prices do vary, so remember to compare prices and ask for estimates.
Other essential costs
In order to get the best possible deal for your energy and broadband services, compare the costs in the area as prices can vary enormously. Make sure your new home has an Energy Performance Certificate (EPC); this will slash your fuel costs. Money Saving Expert.com suggests some vital questions that you must ask when moving home, including prospective renovation costs, and parking fees among others.
Do it yourself isn’t always the cheapest option
You can always save money by doing all the painting and decorating yourself, but make sure that you have enough time in your life to do the job properly. A badly painted wall can look terrible. Even if your new house is rewired and complies with all contemporary safety standards, if you are planning on installing additional power points, call in a professional. They will be able to provide you with an Electrical Installation Certificate (EIC), which you will have to show your insurer, in the event of an accident. Skimping on this can prove dangerous and costly. Your local council may well have a Trusted Trader website so you can compare services and prices.
Other ways of saving money
If you are planning on staying in your new home for a long time, why not do it up, one room at a time? This means that you can remain within your designated budget, and save money. You’ll also find that you’ll be able to take advantage of sales and annual warehouse reductions. As long as you have somewhere to sleep, wash and cook, you’ll be able to beautify your home at your own pace.