talking in the kitchen

How to Budget for Your Move

As the seller, you typically have fewer costs than the buyer, who must pay stamp duty for any house which is worth more than £125,000. The buyer will also have to pay for the survey and mortgage fees. However, there are still significant costs to bear in mind so it's best to be prepared.

Initial repairs and maintenance

Don’t forget to take into account any initial repairs that need to be done before putting your house on the market, and the changes that you would like to make to sell at the highest possible price (see our article, ‘Which home improvements add value before selling’). Ideally set a budget for this, so you know what work you can afford to do.


Energy performance certificates (EPCs)

Anyone selling a home has to provide potential buyers with an energy performance certificate (EPC) for the property. This gives your house an energy efficiency rating, which then allows the potential buyer to get an idea about utility bills. EPCs are carried out by accredited domestic energy assessors and can be arranged through your estate agent. You can expect to pay somewhere between £50 and £120.

Estate agent fees

Estate agent fees are only paid by sellers, not buyers. Nearly all estate agents calculate their fees as a percentage of the final selling price. This is known as the rate of commission. Charges vary between agents and are usually between 1% and 3.5% including VAT. It is possible to negotiate this fee ahead of signing a contract, but be sure not to compromise on the service the agent will offer.

Although it is possible to go it alone and sell your home privately, most people choose to use the services of an NAEA Propertymark estate agent. Online estate agents can be cheaper – and may offer a fixed fee – but often offer fewer services, for example leaving you to arrange and conduct viewings yourself. Make sure you chose an agent who offers the services that are right for you.

Legal costs

The seller needs to hire a solicitor or licensed conveyancer to deal with the legal aspects of selling a property. This is known as conveyancing. The conveyancer or solicitor either charges a flat fee or a percentage of the value of the property. Fees are typically between £500 and £1,500 including VAT, depending on how complex the transaction is. If you are buying another home at the same time, the same solicitor can usually deal with that, in which case you can negotiate fees accordingly.

Removal costs

Removal costs will depend on how far you’re moving and how much stuff you have. If you only have limited furniture and a few boxes, you could hire a van and do it yourself. Otherwise, it is probably best to pay a professional removal firm. It is definitely worth shopping around to get a good quote once you have an idea of the distance you are moving.

Make sure that the movers are insured for any possible damage to your possessions. Some removal companies also offer packing materials and/or packing services. Bear in mind that there will be significant charges for storing your possessions should there be any delay between vacating your property and gaining access to the new one.




Estate agent at door

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