A new UK-wide investigation has revealed that Brits need to budget an extra £2,000 when it comes to buying or renting a new house, or risk being caught out by some unexpected costs. While there’s lots of noise around the cost of deposits and associated legal fees for both buyers and renters alike, the costs don’t end there.
Aside from deposits, legal fees and paperwork, an investigation by Admiral Home Insurance found that renters and buyers in the UK should budget an extra £2k for these hidden costs of moving house. Average UK cost for services:
Home Removal £353
Storage space £532
Professional cleaning £147
Painting and decorating £873
Post redirection £34
TOTAL COST £1,939
On top of these costs for moving from one home to another, and getting the new property ready for your arrival, many people have to factor in additional costs such as childcare or pet care.
Brighton is the most expensive city for house movers outside of London, followed by Southampton and then Oxford, as revealed in Admiral’s cost of moving calculator.
Key findings
Over a third of Brits admit they could have done more research into the cost of moving home
83% of Brits say they’d have to rely on others to help them transport their belongings to a new home
A third of people use storage facilities when moving home
46% of people said they took time off work last time they moved, with most people taking between 3 and 6 days off work
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